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

British warship has been dispatched to the South Atlantic and has starting patrolling in the waters off the Falkland islands, reports have said today as the Argentine government prepared to take its sovereignty claim to the United Nation.

Hlyeo i think everyone was out celebrating,the Argies are doing a great job on the PR front!!

http://www.channel4.com/news/articles/politics/international_politics/rig+arrives+amid+growing+falklands+oil+dispute/3550737

Rig arrives amid growing Falklands oil dispute

if i had been very greedy (stupid?) i too would have bought more today .... that said, none of us should forget there's many a slip etc, so never be afraid to act prudently and tuck away at least some profit

Why would they have to despatch a warship, there's already two and a half there.

because they're expecting trouble.....hello.....

You miss the point bb, but no surprise there

http://news.bbc.co.uk/1/hi/world/americas/8525734.stm

Falklands oil row dialogue sought by Argentina

I hope that the sp doesn't rocket up too much because it will force profit taking before drilling results are known.

totally disagree, and in case, your wish is unlikely to be granted

who cares whether the sp goes up before or after the drilling starts as long as it goes up!

for me, i'ld like to see sp at say 140/150 before the result so that there is a good chance of buying back whatever portion i might have sold after the news - always assuming the required result is achieved!

greedy bugger....

If Liz comes up trumps it will be worth 6 a share and if they drill through Liz and entre Pam and she is full of oil it will put an extra 4 TO 5 on the share prise so lots to play for.............then plenty more targets to drill after that. happy days!!!!

What I mean is I would not like to see a Northern Petroleum isle of wight situation, when the sp shot up only to plunge on duster results....if DES did that and there is a strong possibility, then profit taking, 50% sell or so might happen...this is going to go like a yoyo....I can see this coming...

links from another bb
http://www.oil-price.net/en/articles/oil-war-in-falkland-islands.php

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

sp shot up only to plunge on duster results....if DES did that and there is a strong possibility
while oil exploration is a high risk business at the best of times, with the strike rate rarely being better than 1 in 4 or even 1 in 5 - TLW has been the remarkable exception of late - DES is not exactly drilling in unknown territory ...... i therefore rather think that "strong possibility" is over-pessimistic, though at the end of the day, the result will effectively be 100% good or 100% bad

The good part is that they are probably going to drill a minimum of about half a dozen wells.....so a bad result on one does not mean the end of the world.

no, but the result of the first will set the sentiment, as for sure they will have initially gone for the one which they reckon has the best prospect

I tend to agree cynic, But I will take some profit out should the SP go to 140/150 for sure as there are No absolutes in this game however I do remain positive here as I do with FOGL ! ; ) fingers crossed all goes well !