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

T20's will likely start buying from Tuesday or Wednesday with more piling in late next week and the week after so you would suspect we should be on for an across the board recovery in prices for FI stocks as the hot money starts to slowly come back in.

RF - not disputed (not sure that gas for RKH has commercial value, but haven't followed that one), but as with a contract, nothing's in the bag until it's signed - i.e. commercially viable oil found, and extractable in good quantity

It's going to be tricky playing the ups and downs on these falkland prospects over the next year....what with this lot, and Tanzania, Iraq, the North Sea...and a few other places.....we are going to have our hands full following this lot...

first news of any discovery(or duster) should come from the news media as no doubt they have their informants primed on the Ocean Guardian.

sp continues to head quite sharply south, though looking at the order book on L2 over the last 7/10 days, i wonder if there is quite a heavy short book being built up ..... not sure that means one should buy, but there has to be at level at which risk/reward are favourable .... looking at the simple charts, 90 is a possibility

Interesting that RKH also being forced (?) down, even though it looks like buys & sells almost in parity.

no surprise there at all as it will move in sympathy with DES if not more so as its licences are even more risky

Sub 100p...now..

Bargin!!!! It will bounce!!!

getting nervous ahead of result. If positive could double in minutes

Drill for rubber now are we....... could see cynic in that......

As predicted, sp drifts as drilling continues, with no news & day traders + opportunists find other stocks to pillage. As TD approaches & anticipated RNS, the hype should push up the sp. All imo.

Question is though, Harry, when will TD be reached for Liz ? My own opinion, and that's all it is, is that they will have an ROP of about 60 feet per hour, give or take. Ok, you've gotta stop drilling to run casing, cement the casing, change out the bha, etc, etc, but I think that come mid to late next week we should be getting very close to the 2680 metres which is where Liz is located. Watch the SP closely then - it will reveal whether or not Liz is abundant....

Edit :

I just had a look on BGS website to try and find the ROP for wells in '98. Got a bit of a shock when I realised just how quick the ROP was. We could be hitting the pay dirt earlier than I anticipated. I just posted this on a d v f n too.

should be rechristened UNDES
either someone knows an awful lot more than us, or a big short position being built in case of no find

Good old Hilary.

Argentina celebrates diplomatic coup as Hillary Clinton calls for talks over Falklands

Nothing will happen.....The Falklands are British, end of story....it's just keeping the peace that's all,.....bought some more this morning...worth the risk : it will double if they strike anything at all....if not, roll on the next well !.

Support level : now watch the rebound...just becoming too cheap...has to go up....

Time to buy more and RKH too

the argies can bargie as much as they like, but your right - it will not ne iota of difference
however, DES order book still very heavily weighted with sellers, as it has been for last week or more

Are those 'limit sells'? If so, in what price range?