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

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..
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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 :-)

The chart is looking unsteady now at 107p.

Obviously people are getting cautious now.

hyleo98 - Only 0.2% of the shares traded today, I think most are content to hold for now

It's obvious from its share price...100p now.

think profit should have been locked in......again....people getting the gitters.....can see 70p coming.
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