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

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

http://www.timesonline.co.uk/tol/news/world/us_and_americas/article7034903.ece

http://www.desirepetroleumshares.co.uk/

Channel 4 getting carried away with them selves.....7 billion barrels!!!!

I love your statement, cynic. I would like to see DES exploring if oil is $10 per barrel.

http://www.telegraph.co.uk/news/worldnews/southamerica/argentina/7279507/British-cruise-ship-tests-Argentine-blockade-in-Falklands.html

British cruise ship tests Argentine blockade in Falklands

The higher the bottom oil price is (hope that makes sense) : the more likely Desire and Rockhopper will declare any discovery "commercial" and will proceed later to drilling an appraisal well at a future stage.....the recent sharp rise in crude can only help their prospects...expect the sp to jump 10p on monday.

Dont tell hlyeo that he might go long!!!!! 20 willl do me

http://contrarianinvestoruk.blogspot.com/2010/02/portfolio-update-february-21st-2010.html

Falklands Islands Oil (Falkland Oil and Gas FOGL, Desire Petroleum DES, Borders and Southern Petroleum BOR) Its been an exciting week for the Falklands Oil stocks as Argentina issued a decree that any vessel passing through its waters would need a permit to visit the Falklands which made investors somewhat nervous. On Friday, the Ocean Guardian Rig, contracted by Desire Petroleum arrived on the Liz field in the North Falklands basin and is due to spud this afternoon. I took the opportunity to top up my holding in Desire Petroleum despite some reservations about my significant exposure to the Falklands Oil sector. The risks are significant but the geology of the Falklands basin and oil finds in the previous drilling campaign by Shell/Lasmo gives more than hope that oil will be found in economic quantities. If the Ocean Guardian Rig does strike it rich then I would expectd Desires share price to be closer to 20 than 1 so the risk/reward ratio still looks enticing despite the strong run up in the Falkland Island Oil shares. Falkland Oil and Gas and Borders and Southern Petroleum have been relatively benign for a couple of weeks now, so a rise in these Southern Basin stocks would be expected on any news from the Northern Basin drilling campaign.

http://www.desirepetroleumshares.co.uk/latest-related-news/123-channel-4-news-reports-on-the-ocean-guardian

CH4 news last night

20.....in your dreams, this will never compare to Cairn energy discovery.

Balerboy....what do you know,on one drill if Liz and Pam are a gusher adds 11 a share.

http://news.bbc.co.uk/1/hi/world/americas/8527307.stm

Drilling for oil set to start off the Falkland Islands

will wait with baited breath..:))
edit, explain where this great wealth of oil is going to be exported to and how?

In an attempt to determine the immediate SP of DES during the next week or two, there's certainly room for a rise to 170p. Just an uneducated guess )