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

http://www.shephard.co.uk/news/rotorhub-com/british-international-helicopters-support-oil-exploration-in-the-falklands/5806/

British International Helicopters support oil exploration in the Falklands
March 08, 2010

British International Helicopters (BIH) is assisting in the hunt for oil in the Falklands.

The Dorset-based company, famous for its Isles-of-Scilly passenger passenger service has had two S-61s based at Mount Pleasant on the islands since 1998 operating under contract to the UK Ministry of Defence supporting the British garrison there and its various outposts.

But now the company has sent a third machine to help support the efforts of the offshore exploration companies who will soon begin drilling efforts to the north of the islands.

Tony Jones, managing director of BIH said: 'The S-61 is the ideal helicopter for operations in the Falklands, the wide landing gear is ideal for the sloped landings the military contract requires us to do, something that a narrow-tracked type like the Super Puma is not suited.'

'It made sense for the oil companies to come to us, we have the infrastructure and experience of operating there,' added Jones.

The helicopter was shipped down on the regular supply ship which operates between the Falklands and the UK and went into action on 1 February supporting AGR Petroleum Services who are using the drilling rig, Ocean Guardian. The rig is due to be rotated amongst several other prospectors including Desire Petroleum and BHP Billiton.

'I was flying with Bristow, the last time companies were there exploring for oil,' said Jones, 'Now the oil prices have risen enough to justify it, I think we are looking at a major long term programme of oil work there.'

British International currently operates eight S-61s and a pair of AS365 Dauphins for the Royal Navy.

By Tony Osborne - Rotorhub.com Editorial Team

Getting forever closer to Liz; reckon Friday will be rendezvous time.

Oily do you remember that the BGS used to quote that they thought 110 billion barrels had been expelled and how that a mere 60 billion barrel have been expelled!!!

Now was that cut as the BGS got there figures wrong after all them years or are they telling a whopping lie and just trying to keep a lid on political situation and playing every thing down like Desire PR company, as its gone Very quiet on the PR side.......

of course nothing to do with the political situation and the Argies spitting the dummy out big time if oil found.........not long now....He Who Dares

if oil found......if oil found....when.......

You have a bit play with that cube watcher!!!! Thats real oil from the last shell well drilled.

http://www.rockhopperexploration.co.uk/exploration/falklands_oil_cube.php

Can't believe these are still around the 1 level, with possibly just days/hrs until news. If they strike on this first well I would expect nothing lower than 2.50 immediately. What do your think Markymar?

According to what seems to be a reasonably reliable source, 5-7 days seems to be the consensus based on drilling knowledge.
EDIT : A summary of technical opinion from various other sources (no plagiarism intended):
"If the 9-5/8" has been run and they are now drilling 8-1/4" then they will be sampling the cuttings coming back and gaining info from that.
Once they reach TD they would have to pull out and then do dedicated logging runs.
That would not be until Sunday /Monday going by the time required to drill to TD and pull out, make up logging tools etc.
The crucial piece of information seems to be whether they have run the 9-58" casing. Answer, unknown.
However, people will know when 9 5/8" left Stanley because it will be obvious, it'll weigh hundreds of tons, but that pipe will have probably sat on deck (as early as possible) while its tallied and rabbited."
They will still have to drill the 8-1/2" section after setting 9-5/8" casing. The well should be logged while drilling this section and probably wireline logged after TD.
With the 9-5/8" casing run and cemented the next few days means drilling 8-1/4" into the Liz and Beth reservoir sections and will be the point of getting information back to surface to indicate if hydrocarbons are present."

Hi Rob....am as gob smacked as you!!!!

Well i have all shares online now and have gone to level 2 and ready to start trading in and out in the coming months.

Today looks like there has been a seller in the market and looks to be finished and we could see a bounce me hopes.

Some of the rig crew are on the way back to UK after swap over and we my hear something in the near future.

bring it on pugwash!!! 3v1

From stu

If I look up the EIS there is a Gantt chart detailing the drilling schedule for well 1.

It goes...

Spud date 0 days.
Drill 36" top hole_________0.76 days
Run 30" connector________0.85 days
Drill 17 1/2" hole_________1.24 days
Run 20" x 13 3/8" casing___1.43 days
Run BOP________________1.45 days
Drill 12 1/4" hole_________4.06 days
Run 9 5/8 casing_________1.75 days
Drill 8 1/2" hole__________3.4 days
Log Reservoir___________2.33 days

Testing (contingency)
Run 7" liner_____________2.47 days
Perform DST____________6.18 days

P&A___________________2.5 days


Total__________________30.48 days

According to the EIS TD is shceduled on day 17, which is... TODAY.

Logging is scheduled to take 2.33 days.

The 30 days quoted by DES includes a contingency DST program!

Gentlemen start your engines.

It's all due to Hilary the traitor. UK should just withdraw from Iraq and Afghanistan and leave it to the US.

Marky - very dangerous if you start trading it now, you've waited so long, I'd stay put. In and out very rarely works.

Rob just ticking all the boxes in the right places to keep ahead of game, not long now!

Price should rise today as you cant keep a secret long!

you mean like no oil? :-))

I would like to think we are at a sensitive stage !!! AND THIS SHARE PRICE NEEDS A GOOD KICK UP THE ARSE

"Calm down dear, it's only a graph!"

Should now be logging & then well testing to come:
"Well testing involves bringing out a facsimile prod unit, choke manifold, portable seperator, surface tree and associated hoses, piping etc, to allow the well to flow to the flare boom on the rig. There would be a clean-up flow for perhaps 12 hours to clean up the well and get rid of anything that could impede the flow. After allowing the well to re-pressurize back to where it was, they would then begin the well test. This is then burned off for perhaps a 12/24/48 hour period to determine how much flow and productivity the well would produce through a set orifice, or on various sizes of orifice (choke size). The well is then closed in and pressures allowed to build back. This gives an idea of the size and quantity of the reservoir being tested"

+/-100 is a pretty good support level (in normal circumstances) ..... should this well be a dud, then expect a prompt fall to +/-60, at which point, it arguably becomes a buy again

of course, should at least a respectable amount amount of oil be found, then expect the acrid smell a burnt bear fur

i'm not frightfully good at interpreting L2 numbers, so i would appreciate someone else's input

my reading of the position is that the selling (offers) at realistic prices has now nearly dried up, and that buys (bid) at similarly realistic prices pretty much match numerically, or even outweigh

if that interpretation is correct, then the brave may fancy at a punt at this level

need a very long pole.........very deep round the faulklands.....don't fall off cynic.

i use it for dancing, though HSE now insists that this falls under the "working at heights directive" so it is mandatory to wear a full safety harness, hard hat and steel-capped boots