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Desire Petroleum are drilling in Falklands (DES)     

markymar - 03 Dec 2003 11:36

free hit countersDesire 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

cynic - 09 Feb 2010 08:43 - 3531 of 6492

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

required field - 09 Feb 2010 08:47 - 3532 of 6492

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...

cynic - 09 Feb 2010 08:49 - 3533 of 6492

old adage - just because a share price has fallen significantly does not mean it cannot fall further

required field - 09 Feb 2010 08:50 - 3534 of 6492

If we draw a line upwards across the rising trend overall : the sp looks like to me being at a support level.

cynic - 09 Feb 2010 09:11 - 3535 of 6492

support is only support if it supports - lol!

required field - 09 Feb 2010 09:15 - 3536 of 6492

Yep.....in this market everything is very tricky....once the drilling starts, things should liven up a bit.....so many small companies spudding this year, quite incredible....to me this is a great chance to buy in to a lot of minnows that have enormous potential....

hlyeo98 - 09 Feb 2010 09:33 - 3537 of 6492

I think DES will fall back to 85-90p in the next few days... that is my support level.

required field - 09 Feb 2010 09:35 - 3538 of 6492

Doom man is back.....

cynic - 09 Feb 2010 09:42 - 3539 of 6492

he's not necessarily wrong just because his views don't coincide ...... certainly traffic in DES today is exceptionally heavy, with the daily norm already exceeded ..... L2 shows sell order book remains comfortably in excess buy

cynic - 09 Feb 2010 10:16 - 3540 of 6492

quite a difficult call on DES, though hyleo is absolutely right that commercial oil has still to be located .... that said, history is unequivocal that there is oil in reasonable and perhaps significant quantities in the northern basin

required field - 09 Feb 2010 10:17 - 3541 of 6492

Anybody any idea where the rig is ?....crossing between Rio and the Falklands is where I would think it is.

ptholden - 09 Feb 2010 10:42 - 3542 of 6492

You might be able to find it by logging into an AIS site, just type in the name.

robstuff - 09 Feb 2010 10:43 - 3543 of 6492

due to arrive this weekend

robstuff - 09 Feb 2010 10:46 - 3544 of 6492

i think this may be last time it's sub 100 so just topped up

cynic - 09 Feb 2010 11:53 - 3545 of 6492

the order book has not evened up at all, which would certainly discourage me from buying any more ...... and although hyleo has been nonsensical and hysterical about argentina sending in the gunboats, it is still bad news when a share misbehaves, especially against the (current) grain

required field - 09 Feb 2010 12:02 - 3546 of 6492

The bottom line is if they find oil in the next couple of wells : 200p....so who gives a damn about 5p down or up at the moment...?.

cynic - 09 Feb 2010 12:09 - 3547 of 6492

you're right, but the oil has yet to be proven

halifax - 09 Feb 2010 12:11 - 3548 of 6492

.....and if they don't?

cynic - 09 Feb 2010 12:18 - 3549 of 6492

exactly so!

hlyeo98 - 09 Feb 2010 13:40 - 3550 of 6492

rf seems to think oil is already gushing, let's be sensible, drilling may be delayed at this rate.
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