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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 22:14 - 3936 of 6492

it's not deramping .... it was just a load of rubbish written without any kind of supporting thought or logic .... not responding to my post pretty much sums it up

markymar - 12 Mar 2010 08:21 - 3937 of 6492

http://www.bgs.ac.uk/falklands-oil/download/news.pdf

Falkland Islands Government
Department of Mineral Resources

required field - 12 Mar 2010 12:04 - 3938 of 6492

Topped up for the last time until drilling update...plus a small spread...risky but 6 months for it to come right....

HARRYCAT - 12 Mar 2010 12:07 - 3939 of 6492

RKH might be a slightly safer play atm, as it will drop on a DES duster, but recover quickly as potential still there for their drilling campaign.

cynic - 12 Mar 2010 12:19 - 3940 of 6492

i can see no way in which RKH or any other of these falklands oilies can be safer than DES - safer being very much a relative word ..... where DES goes, so will the others for it is DES that will control sentiment across the board until such a time as the others start or at least get close to their own spudding.

HARRYCAT - 12 Mar 2010 12:24 - 3941 of 6492

Of course, but a DES duster would be a fait accompli for them, but would only affect temporary sentiment in others as punters would still expect results elsewhere, imo.

required field - 12 Mar 2010 12:31 - 3942 of 6492

Topped up in Rockhopper as well.....less downside....and in the event of a strike even with a small ownership percentage will rocket just like DES.....6 wells to come.....must hit something by christmas...change that to : must hope they hit something by christmas....

cynic - 12 Mar 2010 12:52 - 3943 of 6492

am i not right in thinking that drilling started about 20th feb? ..... that being so, surely news not really expected until mid next week at the very earliest?

markymar - 12 Mar 2010 13:13 - 3944 of 6492

Not long now news in the next 7 days i would think,i see there was a MM "scap" sitting there all morning soaking up all the buys and now has moved and it could be a good sign for the price to start to go up.

HARRYCAT - 12 Mar 2010 13:16 - 3945 of 6492

Trimming out the dross & hype, the consensus seems to be that, assuming they haven't encountered any serious problems, they should now be at or reaching the logging stage (i.e TD has been reached), to be followed by well testing. Next week would be about right for news.

halifax - 12 Mar 2010 13:21 - 3946 of 6492

looking at the chart the trend doesn't appear too friendly.

HARRYCAT - 12 Mar 2010 13:26 - 3947 of 6492

Don't encourage hlyeo! He'll start on his shorting tirade again! ;o)

cynic - 12 Mar 2010 13:27 - 3948 of 6492

he's welcome to short, as are we all, but he needs to back his posts with some sort of logic and preferably money too

markymar - 12 Mar 2010 13:31 - 3949 of 6492

The original well plan stated 2.33 days for final TD E-logging and 8.65 days for testing........TD was a few days ago.

Also i see Desire was tipped in share mag yesterday as a BUY at 1.03p...just for halifax that bit.....a screaming BUY as the risk to reward was so great and if oil is struck will send the share price in to Orbit.

Level 2 12 v 1

cynic - 12 Mar 2010 13:39 - 3950 of 6492

SCAP still selling - 10k on offer at 94.50

halifax - 12 Mar 2010 13:41 - 3951 of 6492

marky seems still a heads or tails situation,rather buy at 40p than 1.03!

cynic - 12 Mar 2010 13:44 - 3952 of 6492

i'ld be happy to buy at 120+ on hearing a good result!

required field - 12 Mar 2010 13:49 - 3953 of 6492

In your dreams !...on a very good result : that's if you are watching when the rns is issued : 140p minimum....you will struggle to get in, at barely a 25p premium.

required field - 12 Mar 2010 15:46 - 3954 of 6492

The higher crude goes, the more chances there are of Desire finding a commercial amount of oil....because it will be less costly to develop.

halifax - 12 Mar 2010 16:04 - 3955 of 6492

sp still sinking where will it bottom?
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