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

Should be overhang from the options now all clear.


RNS Number : 9523G
Desire Petroleum PLC
10 February 2010



For immediate release
10 February 2010

Directors' Shareholdings

The Company announces that on 10 February 2010 it was informed that Phipps & Company Limited sold 2,180,000 ordinary shares at an average price of 98.81p per share. The Company was further informed that Ian Duncan, Chief Executive Officer, sold 215,000 ordinary shares at an average price of 98.81p per share.

Details of these transactions and their effect on the shareholdings of the relevant Directors are set out below:

Director
Pre-tranaaction shareholding
No. of shares sold
Post-transaction shareholding

Stephen Phipps
38,882,633* (11.9%)
2,180,000
36,702,633 (11.3%)
Ian Duncan
700,169** (0.21%)
215,000
485,169 (0.15%)
Anna Neve
38,662,633* (11.9%)
2,180,000
36,482,633 (11.3%)

* These include an interest in 33,532,633 shares held by Phipps & Company Limited and 2,840,000 shares held by the Phipps & Company Retirement Benefit Scheme.
** This includes 107,143 shares held by Chase Energy Limited.

These sales represent the final sales by Phipps & Co and Ian Duncan in relation to their option exercise announced on 4 February 2010.

Good to see the share price moving in the right direction and hopefully that over hang in those shares has gone and the share price continues to climb from now on.
The share price has got some catching up to do so hopefully we have some exciting days to look forward to.

Rig arrival is still Sunday and drilling on Liz will commence on Wednesday the earliest...happy days!!

only happy days when drill comes up trumps - or something like that!

oh dear....2 directors selling shares...CEO = 215,000 the other = 2,180,000.
Not good when they sell at 98p..
Edit. chairman sold 2 mil, to..

Most of the other oil exploration companies that I have followed seem to attract punters up to the spud date, with many encouraging RNS to keep us all interested. Once the drill starts turning, there really isn't much to report (assuming no technical difficulties) so with no news flow I would then expect the sp to drift again until the testing starts.

Blue sky from now Harry!

space ships.

a bad analogy marky!
i think what you hope for for is clear water, or even oil on troubled waters

Cynic clear water is what that rig needs at moment as its a bit choppy out there and slowing progress down but still hopeful for spud date on Wednesday and arrival now late Sunday

DES certainly made an impressive rise yesterday. Well, Marky, I didn't mean to offend you but we will see whether OG arrives on Sunday and spuds on Wednesday. Good luck!

hyleo, without getting really silly about it, even you should admit that the news in the link you gave was significantly inaccurate, as was your implication in other posts here that argentina would mobilise within a few weeks

It was published by BBC, what can I say?

wasn't blaming you exactly (i was re argentina!!), but having followed this story for a couple of months, it was a fairly easy and reasonable guess that the story was recycled

ok chaps lets forget the past, we're all onboard now (hlyeo - you must have bought in when you had the opportunity i'm assuming by the change in your tone) and enjoy the ride - only up from here! imo

or is this just hot wind???

not in the south atlantic it isn't!

OG is experiencing bad weather at moment and is still making good head way and still expecting to arrive on Sunday i hear on the grape vine that HMS services are keeping a close eye on her arrival and have flown past to waves from pilots to crew.

Port Stanley is very busy and all equipment has arrived now for drilling campaign and they are just waiting for the OG arrival on Sunday to spud on Wednesday.

There may be more equipment going to be shipped as i hear more drilling slots been used by more operators but waiting for RNS or press to leak

Seismic contractor moves in on unlicensed acreage
AS the Ocean Guardian oil rig is scheduled to arrive in Falklands
waters next week, a Uk registered start-up seismic
contractor is aiming to carry out a speculative 6,000km multiclient
2D shoot on unlicensed acreage in Falklands waters.

Spec Partners hope to start the survey this quarter using the
Nautic Naiad vessel, owned by Oslo-based Nautic Offshore.
However, timing is uncertain. Mr Roberts told Upstream
reporter Rob Watts timing should be firmed up in the next few days:
There is an opportunity there and we want to take it, Mr Roberts
said. The survey would take place in an area covering about
60 blocks in the North Falklands basin, immediately north of where
the bulk of this years exploration will take place. If it
gets the go-ahead, the survey would last about three months,
with processing taking a further three months.

A second application was also made for a survey for a company
with existing acreage in the Falklands. Director of Mineral
Resources Phyl Rendell would not reveal which companies had
lodged applications, saying they were still at a very early stage.

However, Upstreams industry sources said they understood
the second application was by Nautic Offshore for the Naiad to
carry out a site survey on Desire Petroleums acreage while it was
still in the area.

Desire Petroleum was unavailable for comment.
Meanwhile the Environmental Impact Statement Addendum
submitted by BHP Billiton Petroleum (Falklands) Corporation
to drill one well within licence PL015 has been described by the
Environmental Planning Office as a well written document which
addresses the issues raised by SAMS (Scottish Association for Marine Science).

Note: A second application was also made for a survey for a company
with existing acreage in the Falklands. Des????

Borders and Southern submit EIS
BORDERS and Southern Petroleum submitted an
Environmental Impact Statement this week for
exploration operations in PL018 through to PL022.
The document is available to the public and
was due to be Gazetted today in an extraordinary
edition of the publication.
Representatives from Borders and Southern are to
visit the Islands towards the end of February.

The News Media inadvertently reported last
week that Borders and Southern had leased the rig
Ocean Guardian from Desire Petroleum. The error is
regretted.

Cynic, did you see that Argentina is causing more trouble now???

no, but does one care? ..... equally no ...... but i did see the taliban and their ilk were causing trouble in afghanistan, so that may also have an effect on the falklands

for myself, i greedily bought another modest handful this afternoon at 102.5 ..... just hope i have the common sense to bank some of the profit - i already have one! - before the drilling result