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

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

Cynic, you are getting irritable by the way you talk.

Cool it, old boy, think straight and don't act on impulse.

LoL, Hyleo, you're an idiot, but I must thank you for your observations on the world in general and especially the financial markets; rarely does anyone have the stupidity to continually demonstrate their lack of intelligence and perspicacity on such a regular basis, you definitely get my vote :-)

But who are the clients?....intresting


http://en.mercopress.com/2010/02/12/falkand-islands-seismic-contractor-moves-in-on-unlicensed-acreage

Falkand Islands: 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 multi-client 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 notreveal 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). (Penguin News)

Article from the Saturday Telegraph (hope they don't mind)......it's got me worried a bit...

Falklands row deepens as oil ship blocked by Argentina :
A row over oil exploration off the Falklands Islands threatened to escalate into a diplomatic incident incident yesterday when a ship carrying drilling equipment was prevented from leaving an Argentine port.
Argentina's government claimed that the Thor Leader was loaded with pipes bound for the islands and accused Britain of "illegally promoting" drilling operations.
Geologists estimate that there are up to 60 billion barrels of oil under the seabed near the Falklands and a British company, Desire Petroleum, is due to begin drilling before the end of the month.
A 20 million offshore rig is expected next week.
Argentina, which still claims sovereignty over the islands, is objecting to the drilling and says it will take it's case to the United Nations.
The Thor Leader was carrying pipes made by the Techint group in Argentina and was stopped in the southern port of Campana.
Techint, the biggest producer of seamless steel tubing for the oil industry, insisted the equipment was going to th Mediterranean.
But Jorge Taiana, the Argentinian foreign minister said : "Evidence exists that indicates that the freighter was to be used to supply material linked to oil industry activities that the United Kingdom is illegally promoting in the Malvinas Islands."
"The Argentine government has energetically protested to the United Kingdom over each and every one of the British unilateral actions with which it has tried to explore or exploit natural resources in an area that is the subject of a dispute over sovereignty."
He said Argentina's claim remained "firm and permanent" and it would "take all necessary measures in the legal and diplomatic framework to preserve our rights and our resources".
The Foreign Office declined to comment.
The Argentine claims marked the latest in a series of diplomatic spats over the licensing of private companies to drill for oil and gas in Falkland waters.
Last week, the country's foreign minister summoned the British charge d'affaires to receive "a most forceful protest".
Before that, Argentina's senior diplomat in Britain, Javier Pedrazzini was hauled into the Foreign Office for a dressing down after Buenos Aires passed a law claiming sovereignty over the Falklands.
He was given a diplomatic "note verbale" - a firm rejection of the claim - to take back to Buenos Aires.
Argentina invaded the South Atlantic islands in April 1982, only to be expelled by British Forces ina 74 day conflict that cost the lives of 255 British servicemen and 649 Argentines.
Since 1993, the 3000 people on the Falkland Islands, a self-governing overseas territory, have all been British citizens.

I hope that this does not hold up spudding....Argentina is the last country that I would get any equipment from or have a ship carrying tubes or even having a ship destined for the drilling campaign stopping a night over, in a port.
To my way of thinking : Tornados and a British destroyer should accompany the rig on the last stretch of the long jouney from Scotland.

Would be interesting to know if a british nuclear sub was 'exercising' in the area. I wouldn't be surprised if that was the case, though we shall never know.

http://uk.reuters.com/article/idUKSGE61E08020100215


UPDATE 1-Falkland Oil in rig contract with Desire Petroleum

Says Ocean Guardian rig to drill in East Falklands
* Expects drilling to start in H1 (Adds details)

Feb 15 (Reuters) - Falkland Oil and Gas Ltd (FOGL.L) said it agreed with Desire Petroleum Plc (DES.L) to contract a rig to drill the first ever well in the East Falklands Basin.

The AIM-listed oil and gas explorer said it expected the drilling to start within the first half of 2010.

Last year, Falklands Oil, which focuses on south and east of the Falkland Islands, conditionally raised about 7.6 million pounds to help fund capital expenditure on long-lead drilling equipment, and general and administrative costs through 2010 into 2011. [ID:nBNG422973]

Falkland Oil shares closed at 152.75 pence on Friday on the London Stock Exchange. (Reporting by Anirban Sen in Bangalore; Editing by Unnikrishnan Nair)

Things are hotting up in the South Atlantic.

DES sp is getting boring.

lol - you mean it's failing to crumble for your benefit?

So when is OG arriving and when is the spud date, cynic?

much sooner rather than later ..... as far as i can see, the delay such as it is, is due to bad weather and no more ...... markymar is clearly very much closer to this (possibly physically) than anyone else here, so am more than happy to take on board any comment that he may care to make on the subject

The Ocean Guardian is scheduled to arrive at the Falklands late on February the 17th and has been delayed by very choppy sea and they have taken thing slowly to prevent any toe lines from getting damaged...better safe than sorry!!!!

OG is expected to be over Liz Prospect Thursdays night or Friday morning weather permitting, the weather has be dreadful round the Falklands for a while but is meant to start improving.

Lets hope the share price does as well!!!

toe lines?????
i thought those were attached to finger puppets

Nope. Toe lines are attached to the ham strings! ;o)

quite right .... indeed, exactly so

http://www.wunderground.com/MAR/satlm.html?map=wave

You can see by the link above how dreadful the weather has been for the OG and the size of the waves she has had to contend with,not long now....get that Rum ready.

1.10p end of play me hopes

http://www.bloomberg.com/apps/news?pid=20601086&sid=aUQlKgfCXhYg
O.G. due to arrive at 2.00pm tomorrow, according to Bloomberg.