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

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?

funnily enough have just checked L2 and it is indeed a skewed order book, as a lot of sell orders are at 115 and higher ..... at a very quick mental count, about 1m at 115 and above, so on reconsideration, realistic book is balanced or thereabouts

Thanks. I wonder how many of those limit sells around the 115p level will be withdrawn as we get nearer the TD date. Seems a bit pointless selling at that price if oil struck. If not... 115 is immaterial.

shares on offer range between 115 and 230

DES has been grossly oversold then.

Ah! 230p. Now you are talking! That would do very nicely!

doesn't follow .... it's only true if oil is found in good quantity .... that said, there has probably been a lot of selling from o'exposed positions

Relax -Theres oil there . Without question / caused a war for f*** sake. ,,As early as 1965 the CIA boyz said the islands were floating on the stuff..- hundreds of BILLIONS of bbls they said - /Shell verified in the 90s but with revised estimates of tens of billions ; but what with oil then at a pittance and available elsewhere coupled with the daunting drilling environment, and the absence of todays tec, they abandoned their project. But with oil now @ $80 p/b, latest tec and proffessional big shorters closing their positions on price p/bbl , oil is only going north. Question only being can DES or Fogl access this oil in both good quantity and quality ?.....as always mms are ruthlessly exploiting this criteria and lining their pockets..

lev 2 orderbook is indeed skewed -personally i find it hard to rationalize. Do u find it balanced Mr C ? Surely 96p is oversold

surely you're not becoming one of those tiresome conspiracy theorists (your post 3808)?

i agree that the odds of finding commercial oil are shorter than usual, but that sure as hell does not mean every well sunk is going to hit a bonanza; there will certainly be dusters and you/we had better hope that DES's first attempt is not one of those ..... like i said, 96 is only o'sold if oil is found