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Desire Petroleum are drilling in Falklands (DES)     

markymar - 03 Dec 2003 11:36

free hit countersDesire 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

cynic - 13 Jan 2010 13:29 - 3372 of 6492

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

Chart.aspx?Provider=EODIntra&Code=DES&Si

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

halifax - 13 Jan 2010 15:20 - 3373 of 6492

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

Balerboy - 13 Jan 2010 15:45 - 3374 of 6492

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

cynic - 13 Jan 2010 15:46 - 3375 of 6492

quite so ..... hence my comment

markymar - 13 Jan 2010 16:08 - 3376 of 6492

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

cynic - 13 Jan 2010 16:25 - 3377 of 6492

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

hlyeo98 - 13 Jan 2010 16:25 - 3378 of 6492

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.

Balerboy - 13 Jan 2010 16:39 - 3379 of 6492

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

HARRYCAT - 13 Jan 2010 16:42 - 3380 of 6492

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

hlyeo98 - 13 Jan 2010 16:45 - 3381 of 6492

I will save my breath with u, Balerboy.

Balerboy - 13 Jan 2010 17:47 - 3382 of 6492

you mark my words... retrace coming.

cynic - 13 Jan 2010 18:20 - 3383 of 6492

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?

Balerboy - 13 Jan 2010 18:33 - 3384 of 6492

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

cynic - 13 Jan 2010 20:03 - 3385 of 6492

#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

robertalexander - 13 Jan 2010 20:19 - 3386 of 6492

when should you get the shares from the open offer i opted to take up option 2 and the money was debited from my account but i haven't seen sight nor sound of my new shares yet?

Alex

markymar - 13 Jan 2010 20:43 - 3387 of 6492

Alex

Q) When will shares show up on my nominee account?

A) Not until tomorrow and could be as late as mid afternoon.

Q) When will I get the balance of cash back?

A) Depends on your nominee broker but should be within next 5 working days or so

Q) When will holders of Certs get balance of cash back?

A) This will take longer and could be a couple of weeks

robertalexander - 13 Jan 2010 21:01 - 3388 of 6492

thanks Marky Mark, I thought they started trading today so was a little concerned that i couldn't see them. but as i am not planning on selling it won't be a problem.

regards
Alex

markymar - 14 Jan 2010 21:08 - 3389 of 6492

Another good day!!!!4 weeks till we drill


http://www.bgs.ac.uk/falklands-oil/download/news.pdf

Falkland Islands Government
Department of Mineral Resources
Newsletter: December 2009

robertalexander - 14 Jan 2010 21:22 - 3390 of 6492

Mark,
How do you see the SP going?
do you see some sellers taking an instant 50p profit.
i think there must be a pull back soon as nothing goes straight up but the question is when and by how much.
what are your thoughts?
Alex

markymar - 14 Jan 2010 21:53 - 3391 of 6492

Alex, there will be pull backs in the coming weeks but the price will carry on rise sing as we get nearer to drilling.

There will be profit taking along the way it depends on what your happy at selling out at,a profit is not a profit till you bank it, myself i think there is oil there and will hold and let the drill bit do the talking.
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