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

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

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

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

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

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

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

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.

seymour pierce buy note today....hence price rise today

Desire Petroleum 3,4,5 (BUY) - Drilling update

DES.L (118.75p) Market cap: 378.4m

Desire anticipates spudding the maiden well in its Falklands drilling campaign around the middle of February. There are ten undrilled high graded prospects on Desire's acreage in the North Falklands Basin and these have, at the P50 level, a total net unrisked prospective resource potential (taking no account of prospect dependencies) of just over 2.0 billion barrels of oil. Of these ten prospects, whilst the drilling schedule will be flexible based on well results, Liz is likely to be the first to be probed. Net to Desire, Liz has an unrisked P50 resource potential of 260 million barrels.

To put this in context, based on the NPV calculations in the economic assessment work done by the independent expert, if the resource was to be converted to reserves (success case) we estimate that it would be worth the equivalent of 675 pence per share. Liz partly overlies the Beth prospect and can be accessed by the Liz well.
Depending on the Liz results, Desire will decide whether or not to drill an appraisal on Liz or to deepen the well to test Beth. To put Beth in context, the prospect has a net unrisked resource potential of 166 million barrels. Using the same factors as in our estimate for Liz, on a success basis, we estimate that Beth is worth the equivalent of 430 pence per share.

Alan Sinclair | Oil & Gas Research | 020 7107 8094 | alansinclair@seymourpierce.com
You can see on the map above where Liz and Beth overlap and for them both to come up trumps is over 11 per share.....Ifs and buts until the drill bit goes down but this is what will drive the share price up until they drill,

The 'Big Four' Falklands Oil Shares
Date 15/01/2010
Penny Sleuth - The Penny Shares Expert | By Tom Bulford


http://www.fleetstreetinvest.co.uk/oil/supply-demand-oil/falklands-oil-update-98463.html

Desire Petroleums Chairman Stephen Phipps, Chief Executive Officer Dr Ian Duncan and Finance Director Eddie Wisniewski are due to arrive next week for a round of meetings with government officials and others. They will be accompanied by Ben Romney from Buchanan (Desires PR consultancy) and Robert Watts, a journalist from the oil industry magazine Upstream.
Three representatives from Rockhopper Exploration are also scheduled to arrive next weekend.

The Ocean Guardian, under tow by the Maersk Traveller, is still on schedule to arrive in early February; Desires Falklands representative Lewis Clifton confirmed this week.
A second Maersk anchor handling tug supply vessel is due to arrive late this month, and the third rig support ship, a platform supply vessel, will complete the offshore drilling support package, he said.

The pace dockside is about to pick up with the first of two cargo ships, Thor Leader, carrying oil equipment from UK, arriving next week. The second cargo ship, Honest Rays, arrives on January 15. Mr Clifton said discharge operations would be undertaken 24 hours a day until the 14,000 tons of equipment onboard were sorted and stored, pending the arrival of the Ocean Guardian.
Onshore specialised support personnel will begin arriving in Stanley during the next few days. Mr Clifton said up to 12 personnel would be based in Stanley for the duration of the drilling programme.

As with oil rig workers, these personnel will rotate 28 days on and 28 days off.
The shore support personnel will be largely based out of the integrated pipe yard and laydown facility being constructed at Coastel Road by Byron McKay Port Services, of which Mr Clifton is a director. The facility will include modularised office and warehouse accommodation, and the silo plants (muds and cement bulk storage), although other private sector facilities will also be utilised.

Mr Clifton said Byron McKay Port Services had secured an on-shore services support contract, and were working with AGR Petroleum Services - the oil operators contractor - to provide the ship-shore-ship logistics support interface.
A number of local appointments have been made to support the contract terms. These include an aviation coordinator and a number of operatives, slings men, labourers and stevedores. A two week training programme for operatives was undertaken during early December under training guidance brought in from Aberdeen, said Mr Clifton, adding that security personnel would also be appointed for the duration of the drilling programme.

Helicopter support operations are to be provided by British International with an airframe due to arrive on the Ministry of Defence freighter next week. Mr Clifton said work was also progressing towards bringing back on line the helicopter refuelling facility at Cape Dolphin on East Falkland, which was set up during the last drilling round in 1998. However, unlike in 1998 when the Borgny Dolphin oil rig was visible off Cape Pembroke, the Ocean Guardian is unlikely to come into sight on arrival, said Mr Clifton.
Source: Penguin News