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

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.

if hyleo is currently short, he'd better think about covering his arse pdq ...... chances must strongly favour a (temporary) surge in sp when OG arrives and/or spudding starts ..... thereafter is somewhat in the lap of the gods

OG is in British waters..

Looks like the argies have had their noses put out of place. Nice one foreign office.

Come on desser get that oil gushing.


http://www.telegraph.co.uk/news/worldnews/southamerica/argentina/7253160/Argentina-increases-tensions-over-Falkland-Islands-by-seeking-to-control-shipping.html



The Foreign Office brushed off the Argentine move, saying the decree would not affect shipping through the area.

In a statement it said Argentine territorial waters were "a matter for the Argentine authorities. This does not affect Falkland Islands territorial waters, which are controlled by the islands' authorities."

A British Embassy spokesman in Buenos Aires added: "The way in which Argentina applies its laws within Argentine territory is a matter for Argentina.

"The United Kingdom has no doubts about its sovereignty over the FalklandIslandsand the surrounding maritime area." The Argentine statement stirs up an already escalating row between Britainand Argentina over oil drilling operations in the South Atlantic archipelago

Argentina claims Falklands ship controls February 17, 2010 - 7:19AM

Argentina has asserted greater control over shipping to the Falkland Islands, saying ships headed through its waters to the disputed British-held territory must have its permission.

The move, which will stir up an escalating row with Britain over oil drilling operations in the South Atlantic archipelago, came in the form of a decree signed by President Cristina Kirchner and announced by her chief of staff Anibal Fernandez.

"All ships that wish to move between ports in continental Argentina and ports in the Malvinas Islands (the Falklands), or that wish to cross Argentine territorial waters as they head to the islands" require prior permission, Fernandez said on Tuesday.

Britain and Argentina's rival claims of ownership over the Falklands exploded into war in 1982 after Argentine military rulers seized the islands, only to be defeated and expelled by a British naval force.

Argentina claims the islands are an integral part of its territory; Britain has held and occupied them since 1833.

Now, British oil drilling operations around the Falklands have whipped up new tensions with Argentina almost 30 years after the two countries went to war.

The former foes locked horns again last week after Buenos Aires blocked a shipment of pipes it said was bound for the Falklands.

Authorities boarded the foreign flagged "Thor Leader" in the southern Argentine port of Campana after learning it was about to take on a cargo of pipes destined for the Falklands.

Earlier this month Argentina lodged a protest with London about drilling in the seabed around the Falklands, which contains up to 60 billion barrels of oil, according to geological studies quoted in the British media.

Buenos Aires is furious that London continues to skirt UN resolutions calling on both governments to renew a dialogue on the sovereignty of the Falklands.

Britain in January rejected Argentina's latest claim to the islands.

Buenos Aires has urged a solution along the lines of what Britain agreed for the Chinese territory of Hong Kong.

The 1982 conflict lasted 74 days and cost the lives of 649 Argentine soldiers and 255 from Britain.

handbags at dawn ..... they're taking too many rugby pitch antics to heart!

http://www.businessweek.com/news/2010-02-16/falkland-battle-lines-form-over-jurassic-oil-search-week-ahead.html


No Point



Theres no point in Argentina continuing to call on international bodies such as the United Nations and the Organization of American States to press its claims, said Carlos Escude, 61, a foreign policy advisor to Argentinas Foreign Ministry in 1991 and 1992. Neither has the power to make the U.K. change its stance.

There is no future in pursuing those options, Escude said in a Feb. 9 interview from Buenos Aires.

The U.K. government reiterated the Falkland Islands right to pursue oil and gas exploration. We are absolutely clear this is a legitimate business in Falkland Islands waters, a Foreign and Commonwealth Office spokesman said by e-mail. Argentine reaction is a matter for the Argentine government. Argentina is an important partner for the U.K.

The development of an oil industry would enable the windswept islands, which now depend on sheep farming and fishing, to diversify its economy, according to Edwards. Some 4,200 people live there, with about 1,700 of them based at the Mount Pleasant military complex.



Jurassic Layers



Oil around the Falklands lies within Jurassic or Triassic layers under the seabed, dating back more than 145 million years. These are deeper than most of the worlds offshore discoveries, according to New York-based Bernstein Research, an investment research company.

Crude oil futures traded at $74.94 a barrel on the New York Mercantile Exchange at 9:31 a.m. London time today. Prices have doubled in the past year.

The price of oil is not the main reason for the lack of success in 1998, Moody said. The world is a different place and theres been a huge leap forward in seismic technologies.

The Falkland Islands are currently home to a number of UK-listed oil companies, including Desire Petroleum (DES), Rockhopper Exploration (RKH), Falkland Oil and Gas (FOGL), Borders & Southern Petroleum (BOR) and, most recently, mining heavyweight BHP Billiton (BLT).


However,David Hart, research analyst at WestHouse Securities, commented: "This is not a new issue for them. Desire, and indeed Rockhopper and the fellow oil explorers, have known for a while that the use of the ports would be restricted. The fact that this has occurred now has not come as a nasty surprise and I am sure they would have prepared sufficiently for this move.


"I can't see it stopping other UK-listed companies from entering the region in future either."

http://www.iii.co.uk/articles/articledisplay.jsp?section=Markets&article_id=10078825