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

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

Bought some DES at 101p this morning.

Well done!!!! Guess who picked up a load of MWH share last week...now do i sell today or hold..the writing was on the wall if they won.

hlyeo, you bought DES at 101p today, whereas you could have bought DES AT 94p on friday! Was that just cash availability or .............????

even a rumour has a 50% chance of being correct . -Marky - Post shell drilling l dont think anyone doubts pres of hydrocarbons - but the real meat lies in the payload . l would take a gamble here usually but am already o/exposed with Fogl .....Also watching the trading of past feweeks i wont be surprised if its back at 93/4p end of day

very much depends on whether there are any positive leaks - genuine would help!

Took a small profit on the spreads...little pullback....in again...

hlyeo98 - 11 Mar 2010 19:27 - 3932 of 3980
Sell DES at all costs... it will be sinking like the Titanic!

and

hlyeo98 - 15 Mar 2010 09:42 - 3975 of 3980
Bought some DES at 101p this morning.

I was drunk both times, pth.

fear of missing the boat, l guess

The rumour mill is in overdrive.......... Its looking good with news on the jungle drums to myself but untill we get a RNS its just rumour.

The last sentence is the only bit of their report from the Indy today which says anything constructive, but even then they have contradicted themselves:
"It could all kick off in the Falkland Islands at the end of this week.
No, were not talking about another military scrap over the islands sovereignty, as in 1982, but according to sources, Thursday or Friday is the first time that the Aim-listed Desire Petroleum could announce that it has found oil in the territorial seas to the north of the Falklands.
The groups exploratory drilling has caused one huge diplomatic spat between Argentina, which claims ownership of the islands, and the UK. Desire has been unusually quiet about the drilling programme, largely because it wants to keep its head below the parapet. However, if the drilling has gone as well as the company dared to believe, we should all learn about it soon. Analysts expect that, realistically, it could take another couple of weeks for the group to tell the market how it has got on."