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

TFC, guess you're referring to the use of a carrier pigeon? Daresay, you're right though, even the military have problems keeping a lid on on unwelcome news. The Chandler kidnap incident being a case in point.

......Carrier pidgeons? Sheeesh YUK !...had a neighbour years ago who had a squadron of them.... Sh** everywhere ...Everybodies roof within a 100 metre radius was white

If they hit gas/oil this early in the drilling, that would mean that all the seismic data was way out, which would not bode well for future wells, so the comment, 'No news means no oil/gas' is as expected.

Looking at how the sp is going, anyone would think you hit the sea bed with a pick-axe and hey presto oil gushes out.

looks like a short (if you can get one) with a tight stop loss.

And why does it look like a short?
Perhaps you'de like to give entry and exit levels?
You'll have no problem taking a short position if you want to back up your post

short is insurance if you are already exposed on the long side... just common sense but don't forget the tight stop.

Look,....they don't send a 50 million rig to the south atlantic for no reason...big money in here...patience, if dry, on to the next depth and then the next well....plenty of chances for this to come right !.....if in spreads or cfd's ...you will never get out in time except if you have a guaranteed stop loss and the brokers might not do it on this.

Perahps answer the original question - why does it look like a short?

It doesn't....I'm remaining in.....I take too many risks but when it comes right : it comes big time !.

RF

I don't disagree with you but I'm interested as to why halifax thinks it looks like a short.

pth what do you think will happen to the sp if the first drill is a duster ...... wakey wakey! It's a heads or tails situation.

ptholden if you start to listen to the likes of Halifax youre in trouble!!!!!He cant see the wood from the trees.

On the ocean Guardian the crew keep in touch over the internet with their family and friends and you cant monitor the likes of face book ect .

There will be no news until they get to the acquired depth.....

marky wake up don't you think family and friends won't talk to the SUN or the MIRROR?

agree to a degree halifax . Can understand what u mean by a short-as s/p of late bounces up and down from 96/7 to 107/10 in double quick time -l dont think u mean a short of that nature but surely if first well is a duster u wont need tight SL,,/,,,but in saying that why would a sensible man like yourself overexpose himself on what, you yourself, see as a turn of a coin ?

marky ,,,were you in on des years ago when s/p was buttons .......seem to remember you

Oh, so it's a short IF the drill is a duster. I take it then it's a long IF the drill is a gusher?

Your post is totally without logic or common sense, no surprise there, in fact it's utterly inane and stupid.

Now if you had supported your comment with some TA, I would have been all ears. From a chart perspective it's a possible short if it makes a lower low and breaches trendline support with momentum rather than just piercing it intra-day.

Marky, I don't really listen to anybody on FBB, but I like to see comments backed up with a cohesive argument. As far as the crew of the rig are concerned, I have no idea what restrictions are based on their communications, although as previously stated I doubt they have free rein.

TFC the tight stop on the short is protection if oil/gas is found, and then we run our long position...get it?

If oil or gas is found, your tight stop will be left a long way behind and you'll be taken out much higher up and therefore worthless. If you're trading with SBs or CFDs recommend you make it a guaranteed stop and pay the premium.

PS. Why does it look like a short?

pth you don't need technical analysis either DES makes a strike or it doesn't so backing this donkey both ways means you can end up a winner providing you have intelligent stops in place, surprised you don't understand what is an easy strategy.

pth guaranteed stops are always a must don't you know?