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

it's like the paper bag threatening the powder puff

Sorry, I will use shorter words next time.


Argentina warns UK about Falkland Islands oil
Sat, 06 Feb 2010


Argentina and the United Kingdom are about to lock horns over UK companies' oil and gas explorations plans around the Falkland Islands, or Islas Malvinas.

Buenos Aires has reiterated its rejection of oil and gas exploration programs by Britain around the south Atlantic islands and warned of the 'consequences' of such an action.

"Argentina again warns the UK about the illegality and consequences of this new unilateral action, extensive to all private actors involved, that they will be liable of future legal demands in the maximum tribunals, for the potential exploration and exploitation of Argentine resources," the South Atlantic news agency, MercoPress, quoted unnamed sources with the country's ministry of foreign affairs as saying on Friday.

Argentina's objection to the scheme comes after the UK-sponsored Falklands' government announced 'imminent' drilling around the islands by British energy contractors.

"The Falkland Islands Government is encouraged by the investment being made to establish whether there are commercial quantities of hydrocarbons in the Falklands. However, any potential revenues from exploitation will not feature in the Islands' economic planning unless and until commercially viable reserves are discovered," the announcement revealed.

Argentine authorities reacted strongly to the declaration, with Foreign Minister Jorge Taiana saying that oil exploration in 'Argentine waters' poses a direct threat to the interests of his country.

Taiana has presented a formal complaint to the British Embassy in Buenos Aires.

In his New Year address to the residents of the islands, British Prime Minister Gordon Brown said, "The British Government will continue to support the development of your hydrocarbons sector, the British Government will continue to work with you on this agenda."

He also said that there are "no doubts about United Kingdom's sovereignty over the Falkland Islands."

Britain seized the Malvinas Islands from Argentina in 1833, which triggered a 73-day war in 1982 during which nearly 650 Argentines and 260 Britons were killed.

Argentina disputes UK's control of the islands and views them as part of its own territory.

so hyleo, do you actually think argentina will dust down its weaponry and send in the gunboats? ..... well i sure i don't

I am not saying the Argentinians will definitely attack but there is always a possibility. They have done it once before, so why would they not as there is a potential of oil discovery now.
This conflict will escalate within the next few weeks.

now go and take a cold shower and then read the long article in Sunday Times

The article is not all positive - it says commercial oil may not be found and if found, Argentine may cause trouble in the region.

This time next week the rig will be in the Falklands,12 years i have waited to be proved right or wrong if oil will be found.........i have a six figure in shares saying i will be right!!!!!!!The last shell hole to be drilled was capped it was free flowing.

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article7017865.ece

Oil hunters invade the Falklands
Rising prices are tempting explorers back to the waters of the south Atlantic

it is always true in any oil exploration that oil may or may not be found ..... however, for a change the odds seem quite well stacked in favour of at least the northern block being successful

i am sure argentina will make lots and lots of noise if/when oil is indeed found, but she has neither the clout nor the will to go to war - it would be a damn-fool decision if she did in any case ..... that does not mean that argentina will not be given some slice of the action in some way

yes agree with you cynic, but that could be good for des in order to distribute it. Anyway, next few weeks will see sp shoot up whatever the speculation as that drill bit gets closer.

They should be drilling 16th or 17th of Feb and we should see the price start to rise from now on.

cynic, reckon you could be put in the ramping catagory......not like you..
..
~

as you well know, i'll often put in my two-pennyworth when i hold a differing view from that expressed ..... if i felt that bullish about DES, i prob wouldn't haven't top-sliced

Personally, I doubt Argentina have the will or the military muscle to mount another Malvinas offensive, probably just as well, as the UK military are in no position to rebuff a concerted effort, nor ever will be again!

"the UK military are in no position to rebuff a concerted effort (from Argentina), nor ever will be again!"................I refer to your knowledge of the U.K's military capability......enough said.

sorted Harry........................LIZwill be a GUSHER

we are too far widespread around the globe already. undermanned under equiped under funded. the argies know this. this makes us also a loong way away of being able to repeat our successes of 82. anyway none of that matters if we are and have been sensible about it we wont have to, we will already have sufficient forces stationed, both land and sea, so as to deter or repel a similar situation occuring. unless of course it has been overlooked or cut back by expenditure needs.
i said on this thread some time ago that this(oil) was probably the reason for us not giving up our falkland rights. seems it might now be coming home to roost.have we then overlooked the need for defence after such 82 sacrifices or not? i do hope not.
how many fronts can we fight on or have the stomach to do so? we are already stretched. just my opinion as always.
regards
jkd
edit it is still no guarantee that oil is there, just the possibility.

http://www.guardian.co.uk/uk/2010/feb/07/falkland-islands-oil-britain-argentina

There is a big difference between 1982 and now : the airport !.....extended and capable of accommodating Tornados and Eurofighters....at a guess I reckon there are 6 chances out of 10 of finding commercial oil in the northern basin...perhaps not with the first well but they are going to drill half a dozen wells at least.: this could turn out to be a superb investment by late summer !.

all this sabre rattling is exactly and no more than that ..... it's almost an irrelevant sideshow, the only thing of importance to all, and that includes the argentinians, is whether or not commercial oil can be found

Indeed Harry and so you should :-)