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

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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try not to fret ..... never mind if now too late to have locked in profit, but if buying more, try to do so for the right reason rather than just trying to catch the knife xxxx

not fretting.....not in....wearing gloves..

Didn't I told you all to be cautious but nobody listens...95p now

yes, but for entirely the wrong and hysterical reasons

1.4m traded today in 25 mins, so I assume a large portion are sells as the sp was heavily marked down at the open???

there could be quite a lot of forced closing, so arguably DES presents an interesting falling knife ...... there is certainly no news on Reuters or Bloomberg that would disturb anything .... indeed, the last news was yesterday afternoon from AGR (norwegian) being approached by DES etc for logistical and other support

Without ramping : I think that this is a good time to buy into your favourites .....in a few months time it will look like a great time, DES,RKH,AFR,GKP and many others looking cheap if an upsurge in crude is just around the corner....buy when people take to the hills...that's what they say...

PS : I thought I saw a ghost yesterday...the french connection....no it can't be !...

looking at L2, the brokers seem to have quite a lot on their books at around 100, which has meant that buy order book is quite heavily outnumbered at the moment.

good time to buy?
on balance, my thought would be marginally in favour of doing so, but it's still pretty brave, but less so if you do not already hold

I've bought quite a few things as of late.....some of these prices will seem like an bargain later on....job to guess where the bottom is but I have confidence in the ones I've picked of rebounding way higher than what I've paid...