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

sp still sinking where will it bottom?

http://www.falklandnews.com/public/story.cfm?get=5647&source=3

Mineral Resources Report (March 2010)
March 13, 2010
by Phyl Rendell

FALKLANDS DIRECTOR OF MINERAL RESOURCES REPORT (March 2010)


A meeting of the Mineral Resources Committee took place on Thursday, 11 March 2010. Following is the Directors Report by Phyl Rendell.


Approvals to Drill


Since the last meeting on 8 February the department has been focusing on ensuring that all the documentation is in place for the licensees to drill their wells. In addition to environmental and fiscal assessments of the basis of design and geological well plan for the Desire Petroleum 14/19-1 well (known as Liz) have been approved and the well was spudded on 22nd February. It is expected that the well will take 30 days to reach its target depth. Similar approvals are also in place for Rockhopper Exploration well 14/10-B (known as Sea Lion) to spud on completion of the first Desire well.


A review of the Safety Case for the drilling rig Ocean Guardian, was completed by the Health & Safety Executive in February with a recommendation that the rig was fit to drill in deeper water to accommodate BHP Billitons shallower well site. As a result, BHP Billiton has agreed a contract with Desire Petroleum to use the rig to drill one of their wells. The approval process is underway now, to ensure that BHPB complies with all the environmental, health & safety and technical conditions set out in Legislation. A comprehensive Environmental Impact Assessment Addendum was reviewed by the Mineral Resources Committee at the last meeting. Since then, the public consultation period has ended and there have been no further comments for BHPB to address. The Chairman has therefore approved the addendum. A waste management plan and oil spill plan have been submitted by BHPB and the latter will be considered at a meeting of Executive Council, as required by the companys licence terms, late this month.


Media Coverage


February saw considerable interest from all sectors of the media in oil exploration and a large number of enquiries have been responded to by the department. It has been important to clarify to the press that the current drilling programme is only the second in the northern basin and it may be a number of years before conclusive results indicate whether there are commercial hydrocarbons present. However, the investment by the industry is very much welcomed and the Falkland Islands Government is keen to facilitate their approved activities.


In addition to UK press enquiries there has been contact from Argentina and other South American countries and it has been useful to present the facts to these journalists.


Visit by Borders & Southern Petroleum


The Chairman, directors and managers of Borders & Southern Petroleum (BSP) visited the Islands during the week of 22nd February. Their objective was to present their Environmental Impact Statement to the public and their consultant from RPS accompanied them for this purpose. BSPs Chief Executive also gave a public presentation on the company and the findings from their work in their licensed area to the south of the Islands. After acquiring an excellent 3D seismic data set, BSP are keen to press on and drill two promising prospects identified from the data. To do this a deepwater rig or drillship is required and the company is actively seeking such a facility in order to drill their prospects.


Drilling Activities


Since the rig arrived on station and started drilling on 22 February the programme has been going to plan in spite of some difficult weather conditions. Movements to and from the rig have been going well and the shoreside base is in good order for the re-supply of casing, drill pipe, drilling fluids etc to the rig. All those who have worked on the lay-down area and port facilities are to be congratulated for their commitment and hard work in such a short time to establish a comprehensive oil facility for the industry.

Director of Mineral Resources, 6 March 2010

The world's most southerly marathon being run today - The Stanley Marathon. Weather is wet & windy, so seems unlikley that the runners will be able to see far offshore on their travel round the island.

harry keep a lookout for the flare!

Halifax i think you may get some burnt fingers tom!!! should be a very intresting day trading.....If some one can find a nice picture of a rocket to post up if this rumour does come true.

not quite an objective view Mr M, though it would certainly be good to see a positive day after so much negativity

Rumours on the other boards we've hit the black stuff.

Its looking very promising from what i hear!!!! I have a rocket handy just in case

rumour till it hits the s.p.

from 30p sh the up trend on the chart looks ok to me. didnt buy and not in. not done my research but just eyeballing the left hand chart it does appear to have broken that up trend line to the downside.
looking at the right hand chart it does seem to be in a downtrend, maybe it might now be considered oversold and due a bounce. the one on the left already has a high plus 3 lower highs, chartwise this isnt considered good .unless already in at much lower level and want to hold then this is pure gambling for us others.
just my view and opinion as always and please dyor.
( dont buy, thats my honest opinion, better to let one get away than gamble.)
good luck
regards
jkd

Happy Days....... do like a good rumour

hey marky, don't get ahead of yourself old son, though it's good to see some very heavy traffic so early in proceedings - 830k traded already

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5 x MM trying to buy at 95 and 1 at 96
hope they get badly disappointed!

'Buy on the rumour, sell on the fact' - not unless the rumour is true, of course !

for once, you're right!

when they drilled in 1998 the last week in went from 1.50 to 4.80........we are in the last week........a good ramp

You dont send wire logs off to be tested if there is nothing there to be tested,now where is halifax and his charts?

I guess you are right, markymar. It makes sense that DES has hit something, big or small is anybody's guess at the moment.

RKH is moving up too as it will be the next to drill. I think it is a good point of entry at 55p.

still a dearth of hi value individual trades or swathes of T traders of any significant size to suggest news either way - merely small time trading / Albeit momentum is there which all goes to show . ..You cant beat a good rumour

Hlyeo totaly agree,RKH will be next then FOGL then back to RKH then DES so if you have your head screwed on RKH are a V good bet

Both are really charging now.....

quicker than a whores ass on pay day ...........mm/s soaking up the sells -no prob - albeit playing very coy