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

I thought you were pretty blasabout the whole Argentine thing??? Slight change of stance now!

Yeah, cynic, I thought you were a peace-making Indian chieftain smoking peace pipes.

http://uk.reuters.com/article/idukwlb774220100217

LONDON, Feb 17 (Reuters) - British oil explorer Desire Petroleum (DES.L) said its drilling program in the Falkland Islands will go ahead as planned despite a move by the Argentine government to restrict access in the area.

Argentina, which claims sovereignty over the British-ruled islands, said on Tuesday that boats sailing from its ports to the Falklands would need a government permit, deepening a long-running row over exploration in the disputed archipelago [ID:nN16238065].

"This whole situation has unfortunately been anticipated for months," said a spokesman for Desire on Wednesday.

"Desire's logistics are unaffected."

The drilling rig the 'Ocean Guardian', currently on its way to the Falklands, would be the first to drill in the South Atlantic islands since 1998.

Desire's shares were down over 3 percent on Wednesday following the Argentine announcement. Three other explorers planning drilling in the area were also down - Falkland Oil & Gas (FOGL.L) was down 3.2 percent, Rockhopper Exploration (RKH.L) was down 1.6 percent and Borders & Southern (BSTH.L) was down 4.4 percent

my stance and attitude remain unchanged ...... just so much sabre-rattling and handbag swinging

as soon as drilling starts the argies will back off until a major strike is achieved.

of course and at least ..... as i posted a little while back, it is not remotely in argentina's interest to truly hinder the exploration, which is the risky and expensive bit ..... if commercial quantities of oil are indeed found, then a different ballgame starts, but that will still end with a diplomatic solution

You are probably right, but the reasons for the previous conflict were not to necessarily acheive anything matierial, but to deflect attention away from a poor military government by achieving a moral/physical victory & thus placating the restless natives. I'm not sure that the economic ills are any better now in Argentina.

the natives are always restless in Argentina but they ae not stupid , the military know they do not have the financial resources to take us on again.

Desire Petroleum and the Falklands on ITN news at 10pm tonight,must thank the Argies for all this free PR


17:03 UPDATE 1-Argentina's permits won't affect Falklands oil drill AFX UK Focus
By Rosalba O'Brien and Jonathan Saul

LONDON, Feb 17 (Reuters) - An oil drilling project in the Falkland Islands will go ahead as planned despite a move by Argentina aimed at restricting access in the area, analysts and an exploration company said on Wednesday.

Argentina, which claims sovereignty over the British-ruled islands, said on Tuesday that boats sailing from its ports to the Falklands would need a government permit, deepening a long-running row over exploration in the disputed archipelago.

Desire Petroleum, the British oil explorer which is due to begin drilling in the islands shortly, said the move would not affect its drilling programme.


"This whole situation has unfortunately been anticipated for months," a Desire spokesman said. "Desire's logistics are unaffected."
Arbuthnot analyst Dougie Youngson said the company should be able to work around the restrictions.

"Logistically it makes life a bit more complicated but it's manageable," Youngson said.
Argentina protested to Britain earlier this month over plans to begin offshore exploration drilling near the remote Falklands, which are called the Islas Malvinas in Spanish. The nations fought a short war over the islands in 1982.
"It's all sabre rattling," Youngson said. "They want to exert a bit of muscle but I don't think it will come to anything."

John Dalby, chief executive of maritime security company MRM, which provides risk assessments to shipping companies, said drilling companies could bypass Argentina and pick up bunker fuel and other resources at ports in Brazil.

"If a company wants to establish a platform out there serious consideration should be given to chartering a relatively small tanker loaded with fuel oil and marine diesel and ship-to-ship transfers could then be conducted, weather permitting, en route," he said.




FRONTIER EXPLORATION

Britain's Tristan da Cunha islands, which are quite close to the Falklands, could also be used as a logistics hub, he said.


J. Peter Pham, an adviser on strategic matters to U.S. and foreign governments, said Argentina's move could create "momentary disruptions" for companies, but added they would divert their shipping needs elsewhere.
"Ultimately it may determine where these energy supplies will be shipped through and that will be in Argentina's long term disadvantage," he said.
The drill is likely to become a more significant issue should oil actually be discovered, analysts said.

Arbuthnot's Youngson said earlier this week in a note on Borders & Southern, which also has interests in the area but has not yet contracted a rig, that this was "frontier exploration" with a 20 percent or less chance of success.

Desire has contracted the 'Ocean Guardian' rig, which is due to arrive by the end of the week and would be the first to drill in the South Atlantic islands since 1998.
Desire's shares pared earlier losses of over 3 percent and were up 0.46 percent at 1642 GMT, while Borders & Southern was down 3.62 percent.

Two other explorers with Falklands drilling campaigns planned were also down - Falkland Oil & Gas fell 3.49 percent, while Rockhopper Exploration slid 0.39 percent.
(Additional reporting by Sarah Young, Editing by Paul Hoskins and Sharon Lindores) Keywords: FALKLANDS/DRILL

Watch out they will want Gib next.

http://www.offshore247.com/news/art.aspx?id=16104

Island government used to Argentine threat

http://news.bbc.co.uk/1/hi/business/8519807.stm

Falkland Islands: Oil boom or no oil boom?

Level 2 looks intresting now and ready for push up


http://www.thesun.co.uk/sol/homepage/news/2858607/Falklands-oil-argy-bargybr-sparks-1982-re-run.html

Falklands oil Argy bargy

Rig over Liz Prospect on Friday and should be drilling late Sunday come Monday

where have i heard you say that before or something very similar?

Cant do any thing about the weather!!!! The weather is a lot better now and come Monday we should get RNS and the share price should start to make good head way........

thought you might rise to the bait - lol

Greetings Cynic did you get into any of the FI FOGL OR DES ?

only DES ..... i figured that not only was FOGL far riskier, but that DES, being the leader of the pack, would set the pace anyway

indeed .. Interesting times ahead