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

I have done a rough schedule. Provided things went roughly to plan they have found something to test and have spent time running 7" liner and doing DST. Certainly means hydrocarbons have been found IMO. News should be this week of how testing went.





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The lack of a P&A RNS on the 15th March is also why suddenly the price spiked up, as those with extensive shorts had to reduce their risk level and close some of them. Certainly at this stage there is hydro's and so the COS is much higher, therefore greatly increasing the risk on those with short positions, and reducing risk for those with long positions.

http://www.falklandnews.com/public/story.cfm?get=5653&source=3

FALKLANDS OIL THE SOURCE ROCK IS KEY

By J. Brock (FINN)


Its been nearly a month since Ocean Guardian spudded its exploratory well for Desire Petroleum in the Liz Prospect. Indications are that despite the thick source rock and the length of the drill there will be significant reserves of crude beneath it. However, we wont know if this well is successful until the source rock is penetrated. The late Dr Colin Phipps mentioned that the rock could be as much as 2km deep thus the month drilling through it.


Having thick source rock means less hydrocarbons will escape through it to form oil slicks on the ocean surface. Still, after all of that drilling, nothing could be found. Its a game of hit and miss with one exploratory well bringing up nothing while one near-by could have a significant find.


On the way down the well could produce indicators like gas hydrates, making a discovery more likely but not a certainty. Whether or not samples have winged their way to the UK is minor news. Samples sent north when the rock is penetrated will better tell the complete story of what (if anything) we have discovered.


I think the longer it takes to drill through the source rock the better chances are that we will find something. Quantities will only be known when the rock is penetrated and it is possible there will be an announcement any time past the 23rd of March.


Time spent penetrating source rock in the Liz Prospect is a good indicator of how long other exploratory wells will take to drill. Thats good news for Falklands Businesses having a stake in the exploratory round and eventually excellent news for investors.

Post 4050 is the actual pre-drill estimates from DES, put against actual dates starting with the spud.

Therefore, a P&A should have been 15th March for a complete duster.

That is now gone.

Therefore they have found something and are testing it, and news could be anytime from this Wednesday onwards now.

Proselenes if i am correct the rig in meant to move on to next target on Tuesday.

Too soon....they probably have only just reached the first target, never mind the second one.....I must say that I would have thought that the sp would have been 20p higher than it is...

sp too cheap, have topped up again.

Maybe worth picking up a few at 94p just to trade them on the bounce??? Trading seems to be fairly brisk today, so am happy to trade some & hold some.

Proselenes,

I don't think that the test spread is there to do a DST.
Also, as they were to drill to two targets, Liz and Beth, there should be two logging runs. Logging before 9-5/8" casing, drill out and log before 7" liner, drill out and log before P&A, which would probably be in Beth if all this assumption is correct.

Hello !....sp starting to rise ?.....any news anybody ?...

The longer no news the better as it means further testing in on going...at least that what am tell myself!!!

Come on Desire!!!!!!!

greedy shit that i am, i bought some this morning at 96.0 having failed dismally to do so at 93.25

May i just ramp here and say come on millwall!!!!! now do i sell i have a sack full,,and buy more Desire or RKH.

Looks like news is coming..........and good news at that ?

Yep, L2 was going like the clappers there for a while!!

There have been 3 similar bounces over the last two months. Why is this one any different? (Except that news is now not far off). I bought some yesterday at 94p & will now be happy to sell at 102p. The rest of my holding is going along for the ride.

arguably, and indeed more likely, just some bears closing their positions to bank profits

utterly irrespective of trading ratios and with NO definitive news is in the public domain mms are the real ones making the money here by bouncing this stock from the 93/4p to 106/7 with a median of around a 100p . Talk about dancing to their tune.The pied piper lives on . greed and fear being the only variables in play

Pehraps you should follow L2 and you will note that the MMs rarely feature on the Bid/Offer (which isn't to say that they don't).

and yes -l am aware it is their very job to make and stimulate a vibrant trading environment but this pricing become something very predictable Too predictable .And all this based on a well estimated at a 20% chance of success which in itself constitutes something of a wildcat........l believe strongly there is oil around these lslands but i believe if an RNS is not issued within the next few days Des have not been successful in finding the jubilee type field many of you seem to believe to be inevitable one day; and yet the next day are utterly despondent and sell ....and i do follow L2 ......and if you believe for a second that mms are not having an input you are sadly indulging in self deception