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

There has been a significant drop in the Falklands Oil shares today...What has happened???

Significant drop in most shares over the last few days, profit taking, oil down to $74 p/b, Falkland oil exploration companies thought to be overvalued & possibly slight nervousness concerning Argentine interest.

Agree with Harrycat. There have been multiple news items re the Argentinians getting out of their tree again.

If the Argies sink the rig on the way to the Falklands : I will go down there myself to sort them out !.

It would be better for the Argies to capture the crews on the rig and enslave them to dig for oil.

More likely that would like to participate in the drilling and setting up maintenance facilities along with refineries on the mainland.

One minor detail; I thought Argentina was broke? (I seem to remember they had the biggest ever Sovereign wealth fund default). In which case they are not likely to upfront the enormous costs of drilling in a joint venture.
Either, best to let someone else do the hard, expensive work & then occupy the sites, claiming sovereignty, or think very hard as to how the U.K are going to export the oil, if found. South America is the easiest land mass through which to route this crude.
Rf, you might be needed yet to go & defend our honour!!! Suggest you brush up on your language & military skills, pdq!!! ;o)

that would likely lead to yet another mfu

DES is getting weaker by the day...aargh.

Good support at 90p! Don't tell me you got caught up in the hype, hlyeo?

hate to say "i told you so"......

If the sp breaks the 105 support the next one is 90p

Bpoole explain how it hit a 1 low yesterday and then bounced up to finish the day at 109p... i think that sinks your 90p theory!!!!! Yarn..............

If you look at the sells today it a lot of smaller sells either people panicking as the share price retreats or a lot of people taking profit after getting there certificates yesterday and selling and making a quick profit.

They will be drilling on Valentines Day and the share price will significantly higher than it is today!!!

"People getting their certificates"...........? I don't think so!

I got mine Yesterday and also i few freinds got theres.

I think the majority of people who are active investors, trade on-line & therefore do not receive certificates.

Phew! It stabilise end of day...but for how long???

Better day!!!! not long now till drilling

Obviously a buy note out yesterday from Oriel but dont have details. (hemscott premium)

Desire Petroleum PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Oriel Securities
27-01-10 BUY

Seymour Pierce
22-01-10 BUY -1.00 -0.29 -1.00 -0.29

Yippee! Keep on buying DES.