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

more upside today

Same again more sells than buys and the price goes up unless there is news some burnt fingers on the cards.

volume begining to rise again 3.5 million traded today
although 64% were sells the sp went up 6% to 61 bid - bit odd
good rise already this week hope for more
any more news of partners, noted post on possible link to shell
but have not seen any news
has anyone any more info

regards HUSTLER.

Market beginning to discount positive news. Imho fair value is 150p with positive news. How much the market discounts before news arrives is anyones guess.

Hi all

Well looking at the candles the resistance was at 0.55p as I said on my last post. Now we have gone through this 0.55p area I don't see any resistance untill 0.69/0.70p area. Looking at the MACD it has only just started to rise, so all being well it should continue. Even without the news, DES has been in an up trend, so there is no reason why it won't continue. Looking at the 10 day moving average DES has been close to it since the last big rise. Des is now above the 10 DMA which is also a good indication of its direction. The 0.55p which was resistance should now be the new support level. Only bad news would cause a sudden drop. Corrections may be within half of the rise which is now in progress. Other good indicators are DES has now move through its 5 year high of 0.55p. Good news may be ready to break. Let the trend be your friend, as I once read. A stop loss may be a good idea!

Any one any thoughts please!

Good Luck All

Eddie

Let's hope the rise continues.

Capt did you get the direct mail sent a few mins ago.

info[did you get the address?].com

info[snip]com is me

OK got it

bowman ref post 361
can you reply as to source of info ref partner with repsol and shell

regards HUSTLER.

Hello Chaps!
Thought I'd drop in to see where you've all been off too.

Looks as though the price is steadying this morning. I was hoping that guardian article would have added to the impetus, by implication it seems the farm in is done & dusted.
Marky, any word on L&C.
Regards
Jon

Desire Petroleum PLC
15 December 2004


Desire Petroleum plc

('Desire' or 'the Company')

Press Comment

The Board of Desire notes the recent rise in the Company's share price and press
comment that the Company may enter into a farm-out agreement and that it is
considering conducting a fundraising.

The Board can confirm that it is considering all the alternatives available to
Desire to commence an exploration drilling programme in the North Falklands
Basin and, as previously announced, Desire is in discussion with a number of
companies which may wish to participate in such a programme.

An announcement will be made in due course if and when the Company decides to
conduct a fundraising and/or an agreement is concluded with another company.

For further information contact:

Dr Colin B. Phipps (01684 892242)

Mr Stephen Phipps (020 7409 2138)

SWW, can you tell me why the SP is in the red, is this negative news???

They mentioned "......it is considering conducting a fundraising"

Without qualifying the remark, the inference is a share placing. Of course they could go to a bank, or sell the farm out agreements.

I know that is not all bad news, bearing in mind the potetial earnings, but look at what happened to SEY in a similar position, even after the placing.

No need to panic till it becomes clear, even then probably no need to worry.

cheers for that SWW

Hi all

It looks like the market didn't know which way to take the press release. I suppose there are lots of investors with different views on which way DES should go. Either way DES will be drilling for oil & gas. DES may not want to take the first offers from farm out partners as the return to its investors my not be as attractive. It must be difficult to come to a decision, as we all want to hear the rigs are ready to drill. But we all want the best return for our money. The announcment will only test the market for support, which i'm sure the support is there.

Any thoughts ?

Good Luck All

Eddie