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

ptholden

Bennies? I for one find the use of that name objectionable.

I lived there; the use of the name shows just how little you know the Islanders themselves.

I still have close friends living in Stanley and in Camp - and I don't mean the isolationist experience of Mount Pleasant.

avsec, lighten up, it was a joke, how about Stills instead? However, to protect your sensitivities I have removed the reference.

Incidentally, I know quite a bit about the FIs and the inhabitants.

Well it looks like next week will be incredible...with results from drilling from this lot, Aminex (TLW), possibly Sterling and Heritage, Gulf keystone might follow as well....(posted also on SEY).

From another BB, reliability & accuracy unknown:
"Desire results announcement next week. Steve Massam who works for BUCHANAN communications, the company which handles publicity for Desire Petroleum, yesterday announced that a statement regarding the drilling of the Liz prospect would be issued by Wednesday."

Well the sp might react beforehand as leaks to certain elements always happens, I'd be surprised if nothing gets out !...

of course wednesday (31st) as DES has pretty much telegraphed that

a little bit of end week selling appearing, but volume well below average

hope that indicates...the sellers have got so many shares they are having a champagne weekend.....its been a long week

Media report out in the Sunday Times.

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article7078788.ece

Very confusing as it says its a flop and yet later says "still drilling" but claims "non commercial" but only from "sources".

I suggest all DES shareholders contact DES with copies to the FSA, Broker and AIM regulators demanding a clarification prior to market opening, or a susepension of the stock pending clarification of this media speculation.

To be clear, if the media article is correct 100% then I have no problem with it, however if any part of it is wrong then I have a big problem with it as it is akin to market manipulation if any information is wrong in it.

Emails to

dpl@desireplc.co.uk


Copies to

aimregulation@londonstockexchange.com
market.abuse@fsa.gov.uk
enquiries@seymourpierce.com

I just do not understand why he says its a flop but then says "they are still drilling".

So why does he say its a flop and then say they are still drilling ?

Unless he means that LIZ has had oil shows but not commercial, and now they are drilling down into BETH ????????

It was always stated that either LIZ or BETH could have loads of oil, but NOT BOTH.

But if that is the case then his report is written in a very bad way, which means its imperative the company clarify whats going on before the market opens.

I am negative about DS's prospects.

i rather think this report is accurate

This will fall 35% tomorrow.

Who can tell ?.....does this information come from Desire Petroleum ?.....then there's been a bad leak.....2 targets in the same well, so they haven't reached the second target yet but have found oil....so there will be more wells to drill yet....if this is correct ; the sp will drop followed by a good recovery as they have found oil.......this should come from the company itself and not from a sunday newspaper beforehand....

i think that categorises as whistling in the dark
will the fall be overdone? - quite possibly or even probably, but at what point would you determine fair value?

Anybody contacted Desire yet to find out if this is true ?.

DES isn't going to say anything!

A sp drop followed by recovery....if they have found oil....it's a vast area so chances are that there is a very very big chance of finding something worthwhile yet !.....

I just knew there was no oil in the first drill still another 12 more to go for.

as the article says, oil has been found but not in commercial quantities ..... for sure there are other wells to drill and equally certain is that DES will put on as positive a spin as possible ..... nevertheless, DES would have expected this well to be their best chance of scoring with their first hit