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Desire Petroleum are drilling in Falklands (DES)     

markymar - 03 Dec 2003 11:36

free hit countersDesire 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

cynic - 11 Mar 2010 12:38 - 3911 of 6492

BB - not telling you; it would be bad for your health

Balerboy - 11 Mar 2010 12:45 - 3912 of 6492

lol

required field - 11 Mar 2010 13:07 - 3913 of 6492

We could have a situation where they discover oil or gas but just below a commercial quantity : now what would the sp do ? shoot up in the hope that the next well comes good or drop because the market would think that big amounts of crude will not be found !...tricky !....n'est-ce-pas ?.

required field - 11 Mar 2010 13:09 - 3914 of 6492

By the way anybody any idea as to how much crude WTI should be found for it to be declared commercial ? or gas ?....

cynic - 11 Mar 2010 13:21 - 3915 of 6492

if you use HAWK as the criteria, then anything more than 100 bpd is bonanza time!

markymar - 11 Mar 2010 13:22 - 3916 of 6492

http://www.desireplc.co.uk/technical_economics.php

The price is bouncing around today!

required field - 11 Mar 2010 13:26 - 3917 of 6492

At a guess I'd say 30 million barrels....which coud be extracted with another well somehow not far away....just a guess....the cost is staggering in such a far location.

cynic - 11 Mar 2010 13:26 - 3918 of 6492

bouncing is not quite the word i would use, unless related to a deflating balloon

required field - 11 Mar 2010 13:30 - 3919 of 6492

Are you in this Cynic...kamikaze cfd's or less risky shares...?.

markymar - 11 Mar 2010 13:55 - 3920 of 6492

Some good buying this afternoon.....good call Cynic if you jumped in.

cynic - 11 Mar 2010 14:11 - 3921 of 6492

i bought a few more at 95.00 ..... more money than sense!

RF - i have slanted eyes!

required field - 11 Mar 2010 14:35 - 3922 of 6492

Well let's hope this comes right, I was pondering a spread bet on Desire (going long) but chickened out....plenty of shares though in the pocket.....

markymar - 11 Mar 2010 14:59 - 3923 of 6492

If oil is found in commercial quantities we will all be quids in!!!The rig is set to drill a minimum of four wells for Desire with the possibility of an additional two wells so plenty of ups and downs for the next 8 months.

Good volume today

Come on Desire get in to gear!!!!

HARRYCAT - 11 Mar 2010 15:16 - 3924 of 6492

Just to bring everyone down to earth for a moment, on another BB, one of the crew coming off the rig at changeover was asked if there was any kind of news, to which he replied that he didn't know & didn't care as he had no investment in the company, but was just doing the job to earn a wage like everybody else.
If only he knew....................!

watcher - 11 Mar 2010 15:23 - 3925 of 6492

like that rings true.....i am on a rig....drilling for oil.....and i dont care if we strike

if your in......your in

cynic - 11 Mar 2010 15:30 - 3926 of 6492

they work extremely hard on these rigs and i dare say the guy was too damn tired to answer ..... and certainly not impossible that the crew are under strictest instructions to divulge nothing

cynic - 11 Mar 2010 16:05 - 3927 of 6492

L2 now looking very interesting .....

12,000 bid for at 95.25
below that, 140,000 at 92.0

on the other side there are
5,000 on offer at 96.5
and the next offered are 10,000 at 101.0

markymar - 11 Mar 2010 16:10 - 3928 of 6492

5 V 1 so its going to creep up...a few more buys will get her up to 98p,all the MM backed off to 98p as well.

cynic - 11 Mar 2010 16:23 - 3929 of 6492

sorry - i was talking balls yet again

Balerboy - 11 Mar 2010 18:16 - 3930 of 6492

bit like this share.....no balls!!
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