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

merely observing that it had already been noted in the markets and sp "adjusted" accordingly - in fact, though sp was depressed for a few days, it just gave a buying opportunity for those who wanted it

Well I'm not a bit worried with regard to the director sales. The sales were in relation to options :-

"The Company announces that on 10 February 2010 it was informed that Phipps & Company Limited sold 2,180,000 ordinary shares at an average price of 98.81p per share. The Company was further informed that Ian Duncan, Chief Executive Officer, sold 215,000 ordinary shares at an average price of 98.81p per share.

These sales represent the final sales by Phipps & Co and Ian Duncan in relation to their option exercise announced on 4 February 2010."

Perhaps they sold at that price/time because they were worried that the Ocean Guardian would be impounded/sunk before it reached it's drill position. ;o)

Blame wife's spelling for that one....i did query it with the one that knows all!! lol

sales to fund option nowt more

RNS Number : 4982H
Desire Petroleum PLC
22 February 2010



For immediate release
22 February 2010








Desire Petroleum plc



("Desire" or "the Company")



Liz 14/19-A Exploration Well Spud



Desire Petroleum PLC (AIM:DES) the oil and gas exploration company wholly focussed on the North Falkland Basin, is pleased to announce that, following the arrival of the Ocean Guardian in Falklands waters on 19 February 2010, the Liz 14 /19-A exploration well was spudded at 14.15 hours (GMT) on 22 February 2010.



The well is being drilled to an estimated target depth of circa 3,500 metres. Drilling operations are expected to take approximately 30 days and a further announcement will be made once drilling is completed.



For further information please contact:



Desire Petroleum plc
020 7436 0423

Stephen Phipps, Chairman



Dr Ian Duncan, Chief Executive Officer








Seymour Pierce Limited
020 7107 8000

Jonathan Wright



Christopher Wren








Buchanan Communications
020 7466 5000

Tim Thompson

Chris McMahon

Ben Willey

If they are going to 3500 metres then it looks like they will be drilling into Beth as well ? Two birds with one stone. Nice.


http://www.desireplc.co.uk/pdfs/figure-generalised-stratigraphy.pdf

cheers gibby Bloody FT reported charman as selling 2,100,000 which acc to you holders was merely an option being ecercised ..l hate that paper :-) cheers eveyone......good luck ...........water to cold for me to get involved here albeit i do own FOGL/ since floatation ..,,,,

meanwhile, some hefty profit-taking - sp now 114 mid after a high of about 128 earlier

including you i hope cynic....

have never had a huge holding .... in fact have just this sec topped up at 112.5, which with retrospect i see was just a smidge above 25 dma

ON August 14 1592. First recorded sighting THE FALKLANDS ISLANDS, by English sea captain John Davis in the ship 'Desire'.

Did you not know. Thats the reason the company DES is thus called, ,,ln addition vol of shares traded in relatively small tranches of 10,000 t0 50,000 in the last five minutes of trading was quite phenomanol.....

buying or selling out of curiosity, or were they fairly evenly matched?

I also reckon that some people have sold because of the 30 day rule in cgt hoping to come back in just before drilling results, of course those trading in a sipp will not be affected, nor our overseas friends....but I think that the sp could hit 150p a week or so before.....this drilling will carry on for the next 2 years at least...what fun in store !.....expect a rebound tomorrow ...

http://www.telegraph.co.uk/news/worldnews/southamerica/falklandislands/7293036/Oil-drilling-begins-off-Falkland-Islands.html

Oil drilling begins off Falkland Islands
Oil exploration has begun off the Falklands after a British rig arrived amid protests from Argentina.

Possibly a rebound tomorrow, but then 30 days of.......nothing, so would expect the sp to drift in the meantime.

Harry i think it maybe a lot less than 30 days,Liz sits in 500 meters am not sure what the depth of Beth is but she sits under Liz so with Desire saying they hope to drill to estimated target depth of circa 3,500 metres so Deire are going to drill 2 plays with one drill.

Now if an correct the last shell well was i think to a depth of 3,000 meters and was drilled in 16 days.

Oily how many days? whats your take on Liz?

Anyone else have any thoughts on how SP will move over next 30 days? Also what are the chances of good news in 30 days and whats likely price range if good news comes?

zz this was released on the 12th Jan

Desire Petroleum (DES, BUY, 111p), Rockhopper Exploration (RKH, HOLD, 78p) - Investor/Analyst presentation

Desire and Rockhopper gave a joint investor/analyst presentation yesterday. Both presentations reiterated the details presented in the previously published Competent Persons Reports (CPRs) although the companies confirmed they will cooperate during the drilling programme by sharing data to maximise the chance of success in the current programme.

Drilling plans remain fluid, with the results of the first wells expected to heavily influence the forward drilling programme (e.g. if Liz is successful Desire's next well is likely to target a follow on prospect in the same play). The first two wells are expected to be on Liz and Sea Lion. This will be followed by a well on Toroa on Falkland Oil and Gas's* (FOGL) acreage with a rig agreement currently being finalised between Desire and BHP

Following the recent placings and Desire's open offer both companies are well financed going into the drilling programme and will have flexibility to drill additional wells potentially using some of the contingent well slots on the Ocean Guardian, although this may change if the initial wells are successful and extensive testing programmes are completed.

Desire confirmed that the rig is making good progress down to the Falklands and is expected to begin drilling in February which we expect to act as a positive catalyst for both stocks.

In terms of upside valuation for the initial wells, a commercial success at Liz based on pre-drill resource estimates of 280mmb would be worth unrisked 635p/sh to Desire and 86p/sh to Rockhopper. Sea Lion based on a pre-drill of 170mmb would be worth 608p/sh to Rockhopper while Toroa based on pre-drill estimates of 1400mmb would be worth c3400p/sh to FOGL*

Richard Rose
Oriel Securities

+44 20 7710 7637 +44 20 7710 7637 Direct
Connected research

Thanks Markymar I appreciate that...

So do you think the SP will hover in the range 110-130p until the news is released?