Desire Petroleum

<>Desire Petroleum plc (Desire) is a UK company listed on the Alternative Investment Market (AIM) dedicated to exploring for oil and gas in the North Falkland Basin.

Desire has recently completed a 6 well exploration programme. The Liz well encountered dry gas and gas condensate at 2 separate levels while other wells recorded shows.
Together with the Rockhopper Exploration Sea Lion oil discovery in the licence to the north, these wells have provided significant encouragement for the potential of the North Falkland Basin. The oil at Sea Lion is of particular interest as this has demonstrated that oil is trapped in potentially significant quantities in a fan sandstone on the east flank of the basin. It is believed that over 50% of this east flank play fairway is on Desire operated acreage.

Desire has now completed new 3D seismic acquisition which provides coverage over the east flank play, Ann, Pam and Helen prospects. The results from fast-track processing of priority areas are provided in the 2011 CPR. A farm-out to Rockhopper has been announced. The revised equities are shown on the licence map (subject to regulatory approval and completion of the farm-in well). Desire Petroleum

Rockhopper Exploration

British Geological Survey

Argos Resources



Latest Press Realeses from Desire

City commentator Evolution Securities has speculated that online bulletin boards will be rife with rumour and gossip in the period between spudding and completion of new wells off the Falklands by Desire Petroleum and Rockhopper Exploration.

After the two companies made a presentation to analysts in London yesterday, Evolution reported that Desire and Rockhopper have indicated they will only issue regulatory news releases on the spudding and completion of those forthcoming wells in the North Falklands.

However, with wells expected to take less than 30 days, we expect the bulletin boards to be rife with rumour and gossip in the intervening period, Evolution commentated today.

The Ocean Guardian rig was due to commence the first well for the two companies next month and is now travelling down to the South Atlantic.

Desire and Rockhopper are on course to spud the first of up to ten wells from next month Evolution observed, with the plan to test a number of different play types in order to extend their understanding of the geology of the North Falklands Basin, and the two companies intend to share exploration drilling results.

The principal risk is the presence of decent reservoirs, sufficient to hold and flow commercial levels of oil, given that they will be within a muddy basin, the commentator stated.

Analysts Presentation (11/01/10)

http://www.desireplc.co.uk/images/uploaded/6214697_4368899.pdf

"Muddy Basin"!!!!!!!!!!!!!!! Nobody said anything about that before! Oh Cr*p! Well, that's it then. Might as well pack up & go home! ;o)

that'll teach you to wash your rugby kit at home!

As requested by Marky M....

As to future price....... you tell me?, no historical data to go on so I would have to turn to fundies for a valuation if I were interested in buying the stock.

Looks very bullish to me though.

and here's one for pea-brains like me ...... 5 year chart showing previous all-time high
well and truly shattered



from an investment/trading point of view, i would be disinclined to jump in at this late stage, and if i were (am!) a holder, i'ld take a prudent top-slice before drilling result

cynic DES is all froth and little substance at the moment, but........

my view exactly...kindly blow it off and get sp back to where i can get on board..

quite so ..... hence my comment

http://finance.aol.com/quotes/desire-petroleum-plc/des/ise/historical-prices?tf=9%2F1%2F1997-12%2F31%2F1998&gran=d

Goldfinger many thanks here is some data on price movment back in 1998



Balerboy there is only one direction this is going and i expect more news soon.

1.25 + end of week imhp

certainly ticking away nicely as is DGO, very much to my surprise

Balerboy, I've told u last week to get into DES or RKH or both but I still think u r not too late now to get on board. See RKH thread.

oil on it's way down... des will be sub 90p soon, time to short it hlyeo98,,

So DES sp is valued on estimated recoverable b/o? I don't think so!

I will save my breath with u, Balerboy.

you mark my words... retrace coming.

you're right of course BB, but when and from what level?
my guess is that there is still some upside, certainly until closer to the result of the first drilling
of course the big Q, is how much and how far does one let greed run?

oil over flowing, warmer weather now coming, no demand oil sp back to mid 70's

#1 is bollocks for we still deplete reserves faster than they are discovered
#2 is a couple of months early and not entirely relevant
#3 is possible, but that is no disaster