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

another doubter......greek careful

and you will also recollect that about 10 days ago BBC also reported that the rig would not arrive for a good while yet!

They were reporting from the Falklands they have a man down there on the ground.

and today's continued profit-taking shows just how hard it can be to get a reasonable sp value assessed

========

though whatever was put on the market has clearly been quickly mopped up - bid went as low as 107 and is back to 112 as i write

Those that have taken their profit (the traders, because for everybody else, matching rules apply, or in a sipp)) will want to get back in...there wil be a rebound ....the possibility of a massive strike will prove to be too great.

So glad am not a day trader as this is very volatile stock jumping all over the place,Colin Phipps always said if this was on land they would be pumping this out now.

Back up now Cynic

not exactly up, but yes i thoroughly agree with you

Post 3722. Personallly I think that a Chance Of Success of 17% is ultra conservative for Liz. This will be the seventh roll of the dice to find commmercial oil in the basin; law of averages are now on our side.

This might be of interest to some on here - Q&A: The Falklands oil row

certainly not complaining to see sp chugging back up (now 115.5 mid) but somewhat surprising to see volume pretty low at only 5.2m traded so far - unless there are some big incomplete orders still in process

I fully expect sp to race up in next few weeks as investors get in before the drill result is announced, otherwise risk sp being marked up massively on a strike. I agree that chances are favourable considering the history and DES wanting the first to be successfull, they will have chosen the best prospect to drill first. In the 90s the sp raced up to over 5 without a significant commercial find.

Anything sub 100p has got to be worth a small investment, imo. As for the sp 'racing up'.............now 105p.

the one thing that concerns me about this stock - other than the possibility of a duster - is that there are consistently 2/3x more shares on offer than there are bid

Is that bad? More buyers waiting than sellers?

Broker Fox Davies with a note out yesterday telling clients to hold.

Latest Broker analysis for Feb from hemscott premium...........

Desire Petroleum PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Fox Davies Capital
23-02-10 HOLD

Oriel Securities
19-02-10 BUY

Seymour Pierce
12-02-10 BUY -1.00 -0.29 -1.00 -0.29

very weak today, and 100 might be seen later ...... could be forced selling and/or stops hit

incredible, Venezuela add their 2p worth and that spooks the sp. Wonderful for day traders as this will bounce around but ultimately wouldn't want to be left without when the announcement comes - Marky when would you say the likelihood of news or the soonest possible strike?

towards end March

The share price was always going to be volatile in Desire it always has been and always will be!

Sabra rattling from Argies and thats it, Ocean Guardian is in British waters drilling for oil and while in British waters it has nothing to do with the Argies,for the Argies going to the UN in New York they will get a flea in their ear like every other time they have gone.

Drilling i think the earliest will be the 13th March and to be watch closely from then on. I think if they hit oil news will leak quickly.

Am going to stand on my box and rant now!!!!!!

Why they will get a flea in there ear......Just because they live near it does not give them the right to claim it.

The French founded the islands' first settlement, on East Falkland in 1764, and the British settled West Falkland in 1765. In 1770 the Spanish purchased the French settlement and expelled the British, but the latter's settlement was restored in 1771. In 1820 Argentina proclaimed its sovereignty over the Falklands, but the British took them back in 1833. Argentina invaded in 1982, and the British reclaimed the islands after a brief conflict.