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

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

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

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

due to arrive this weekend

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

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

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...?.

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

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

exactly so!

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

why any delay?
the politicos will do their own thing in their own time and their own inimitable way
meanwhile, those with financial responsibilities, will proceed as planned - and there is nothing at all to indicate otherwise

words of wisdom at last.......weldone h98

I think that they will find oil but there is bound to be a duster at some stage....they will be there for 2 years at least, drilling loads of wells so there is bound to be a failure along the way but I would be mighty disappointed if they don't come up with the goods with what's planned so far...a 10p down and up is not going to bother me in the short term....delays go with the nature of the business...it looks good overall.

think you under estimate the argi's cynic, but stand to be corrected later on, imo

You'll be disappointed!!!!!! How do you think markymar will feel? He must be a major shareholder by now!;o)

it's political sabre rattling for domestic consumption
it's assuredly not in argentina's interest to stop someone else doing all the hard and expensive work, even if she has a longer term imperialist agenda

I frankly think that we have hit the bottom for the sp.....look at the rising pattern on the graph....this is a support level and for it to drop further : 2 things : firstly the rig has been hijacked by some Somalis on holiday and secondly crude has dropped to $65 dollars or less.

Trendline support at 90p or thereabouts. Just noticed it gapped up a while ago, the bottom of which is at 66p; gaps are not always filled, however.........hmmm

More downtrend tomorrow.