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

Looks like the buying has picked up today.........consolidation period before the next leg up ?

The South Atlantic. Getting ready for kick-off ?

INTEREST REVIVING IN THE FALKLANDS WITH SECOND 2004 SURVEY ANNOUNCED.

BY JEREMY CRESSWELL.

GLOBAL Petroleum together with Cambridge Mineral Resources and Falkland Islands Company, is carrying out a two-month aero-magnetic survey of the Falkland Islands in a bid to better map the UK dependencys hydrocarbon, (coal, oil and gas), and other strategic mineral resources.
The partnership, known as Falkland Minerals Limited, (FML), is using Fugro Airborne Surveys, which will track lines at 1,000m and 500m spacings, with allowance for higher-density 250m spaced lines over previously identified areas of interest.
Results of this survey are expected to be available in the middle of this year and the intention is to follow up with selective land-based drilling.
The move follows a decision by Global early last year to buy 4,340km of South Falklands Basin 2D seismic to determine the most prospective offshore areas to commence exploratory activities.
In this case, Global is working in partnership with Hardman Resources, (30%), and Falkland Islands Company, (20%). They collectively hold 10 South Falklands Basin blocks off the island groups south and east coasts.
The South Falklands Basin is distinct geographically and geologically from the North Falkland Basin, which was the focus of exploration activity during 1996-98, with both seismic survey and drilling carried out.
While both basins are under-explored, North at least has been drilled, whereas South has only been subject to seismic, (8,000km shot in 1993).
This basin is said to be analogous to the Malvinas and Magallanes Basins in Argentine waters to the west, where a well drilled by Exxon in the early 1980s flowed 3,200 barrels per day of oil, demonstrating, according to Hardman, a nearby working petroleum system.
2004 is becoming an active year in the Falklands sector, which has been virtually moribund since the disappointing late-1990s drilling campaign.
During Q1, UK-listed Desire Petroleum shot seismic across a number of key targets in the North Falklands Basin, claiming promising early results.
In March, Energy reported that Pan American Energy had acquired interests in the Malvinas Basin offshore Tierra del Fuego in other words, Argentine waters, but which border on to the Falklands sector.
Pan American has secured a 35% interests in blocks 40 and 46 operated by Repsol-YPF. Total, which has a 31% stake in block 46, has apparently ordered a seismic campaign across both blocks, (aggregate area 6,500sq km), with a view to exploration drilling starting next year.
We reported in March that there was a twist to the Pan American transaction in that it would put BP in the South Atlantic as it is a 60% stake-holder in the company, with Argentinean corporation Bridas holding the balance of ownership.
Whether this campaign can in any way be made to link with Desires aspirations to restart drilling in Falklands waters is open to question, though it will perhaps be investigated. BPs indirect involvement could prove important to this regard.
The super-major did not participate in the Falklands drilling campaign of 1997-98 as its priorities lay elsewhere at that time. The Tierra del Fuego manoeuvre begs the question as to what BP might do next in the South Atlantic.
An industry source told Energy last month that the UK Government was making a serious mistake by not implementing and funding a systematic search for oil and gas in Falklands waters, especially as the North Sea is now in decline.
He questioned why 20 years had effectively been squandered since Prime Minister of the day, Margaret Thatcher, took Britain to war with Argentina over Falklands sovereignty.

up 12% today but must get past this 16p mark if get to 17p i think it will carry on riseing

RNS Number:3833X
Desire Petroleum PLC
06 April 2004


DESIRE PETROLEUM PLC

("Desire")

Seismic Survey Update


The 3D seismic survey over Tranches C and D in the North Falklands Basin has
been successfully completed.

In total, just over 804 square kilometres of 3D seismic were acquired and
initial indications are that it is of very good quality. Preliminary tests,
carried out by Robertson Research International Ltd., who will carry out the
detailed processing of the data, do not suggest that there are likely to be any
significant factors which would complicate processing. However, this is a very
substantial volume of data and processing will take upwards of six months to
complete before detailed interpretation can begin.

A number of companies have expressed interest in Desire's Licences and have
signed confidentiality agreements with respect to the data. Discussions with
thesecompanies will be progressed during the period required for processing and
interpretation of the 3D survey.

For more information contact:

Dr Colin Phipps 01684 892242

Dr Ian Duncan 01684 568415

Do you think if we all panic, we can drive the price ....lower...

ITS A BUY WITH THAT NEWS its just people selling who can not wait 6 months, a lot can happen in that 6 month period.

are MMs playing darty?

Well, no big shock at the length of time it's going to take to process the 3-D survey. Four months, six months - what the hell, we've waited long enough, a few more months won't make any difference. Drilling by Q4/04 or Q1/05.

what happened to block F ,oily as i have great respect for your knowledge on this subject do you think it will be less than 6 months as they have had some of the data for months and this could of being read already and do you think we will see one farm in partner or can you see more than one diffrent farm in partner on diffrent tranchers drilling.

I really don't know, Marky. As ever in the oil industry there are behind the scenes 'need to know basis' type stuff going on - and quite basically we don't need to know just yet............I'm sure 'F' was bombed too, we'll know soon enough in Desire's Annual Report.

cheers oily

the news released confirms to me that this is a potential 10x bagger, but it won`t be overnight as some seem to think, or expect. solid growth takes time and unless you are extremely lucky you don`t make mills in a few weeks. I`m in for more.
good luck and bestest

This is the best chance for a 10 bagger all year IMHO but it will take all year to achieve, I think yesterdays reaction to what is good news is a result of short termers. DES probably wouldn't be talking to third partyies unless they were pretty sure of the results. In which case you can assume that they have found the right type of oil and this cojmpany is worth significantly more than its current market cap.

In a recent interview with phipps on wall street reporter he said if 2 of the tranchers were on land they would be taking the oil out now....fact.

Is this stock not history repeating itself. Last time they did the survey, they even found oil, but not in commercial quantities. Extracting oil from the sea bed is many times more expensive than from land strikes.

Get a grip on reality this is going no where until 6 months hence, and even then there will be so many if's or but's, not least the political situation (Falklands Basin which a certain South American country has claims too).

Anyone remember the exploration fiasco last time out and then more fiasco when Cambridge Mineral found diamonds of a quality and quantity akin to South Africa, oh yes,not!

Perhaps those investors who are gambling on a rise in share price should take a note of this:

Post-Drilling Analysis of the North Falkland Basin

- Part 2: The Petroleum System and Future Prospects

P. C. Richards* and B. V. Hillier**

*British Geological Survey, West Mains Road, Edinburgh, EH9 3LA, Scotland

**Shell Production and Development Ltd (Falklands Branch), Shell Centre, London

Correspondence to p.richards@bgs.ac.uk

Manuscript of paper published in Journal of Petroleum Geology, vol 23(3), pp 273-292

Six wells were drilled in the North Falkland Basin in 1998. Five of these wells recorded oil shows,
and up to 32% gas was also recorded in mud returns to the rig floor. However, none of the wells
encountered commercially viable petroleum accumulations.



A mug and his money is easily parted.

Aww, c'mon, Stuckinrut, play fair !

You could at least give the full account of the post-drilling analysis from 1998.

OK, tell ya what, I'll give the link for you. Helluva deal, eh ! ;)

http://www.desireplc.co.uk/pdfs/journalpart2.pdf

Geo Pacific finishes seismic survey for Desire Petroleum

SEISMIC vessel Geo Pacific has completed its 3D survey in the North Falkland Basin on behalf of Desire Petroleum PLC.
A meeting of the Mineral Resources Committee heard yesterday that the vessel arrived in the survey area, Tranches F, C and D on January 20, 2004 and did not encounter many delays, apart from some kelp catching on streamers.
The vessel and her chase boat Thor Supporter made two crew changes in Stanley during the survey.
Desire Petroleum says it will be several months before the data will be processed and interpreted. The company will be seeking partners to initiate a second drilling campaign in due course.
Also discussed at the meeting was the aeromagnetic survey being carried out over the Islands. The aeromagnetic survey over much of East and West Falklands began in the week beginning March 22.
The Cessna 400 aircraft of Fugro Airborne Surveys NV is contracted to Falkland Minerals Limited to acquire data comprising lines at 1,000 and 500 metre spacing, with an allowance for higher density 250 metre spacing over areas previously considered of interest. Results from the survey are expected to be available in the middle of this year.

So, they did do tranche F as well, Marky. Good research !

cheers oily

this come fly with me all over it