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

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 !

Falkland Islands: The oil exploration will start
Posted on 20 February 2010 at 10:29.


The goverment of the islands announced that The oil search will begin next week despite the strong objections made by Argentina.

Officials from Argentine government reported that will extend restrictions on the transport of ships heading to the islands, but the oil platform from the UK has already reached the Falklands islands.

Representatives of Desire Petroleum, one of the oil firms, said that the dispute will not affect their drilling plans, though its was known that the plans have fallen in the last month.

Everything is ready to begin, and it will start after the arrival of the Ocean Guardian, the sea oil drilling platform that arrived from from Scotland.

The Legislative Assembly of the British territory claimed that the activities will begin next week as it was planned.

Patricia Garip, the director of the energy analysis group Argus in Latin America told to international media that they will be drilling four wells at least, though the results will be seen in months, perhaps years.

She added that There will be some preliminary results in the coming months. This process is not immediate, but these companies will carry out the operations, making some noise about it.

Garip warned: There is too much speculation about the possible deposits of hydrocarbon in the region, which promise to become a new oil and gas reserve. However, nothing is assured.

And that It will be too early to declare victory, they will have to wait until the wells are done.

Argentina presented a complaint to the UN and asked for support from the countries of the region.

Falklands authorities said that they are not surprised by the measures taken, although they said they were disappointed by the behavior of the Argentine government.

But claimed that all the infrastructure and the necessary inputs for the oil industry are already in the islands and the ships, including the Guardian Ocena platform, havent had to navigate in Argentine waters.

Patricia Garip maintains that the measures taken by the southern country will not have much effect.

And predicted that There is no doubt that the complaint will be felt in the UN and other forums in the coming months, but the rhetoric of sovereignty and bombastic statements wont affect British interests.

Oil now over 80$ a barrel.

http://www.oil-price.net/


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unless or even until DES finds commercial quantities of oil, it matters not whether crude is $10 or $100 .... forget that at your peril