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

Not as much.....that would be with a terrible rns....negative throughout.....with loads of wells to be drilled the sp could not possibly remain as low as that ; I would jump in again....

This is ridiculous...we all ahead of ourselves here until Desire issue the news....anybody with any more information ?....fed up with this coming out before they tell us....(:(((...

Just to update you, I have received all necessary receipts to my emails.

From the FSA market abuse section, from the AIM regulator and from Seymour Pierce, which kind of suggests for some reason all are working on Sunday, well this Sunday. First was the market abuse, some hours later the AIM regulator and finally now Seymours have opened the mails.

We await the RNS tomorrow, but for sure if this article is in anyway wrong and considered malicious then all the right people know fully about it prior to the market opening.

If its true 100%, then fine.......

I suspect that someone has played with words and the LIZ prospect has oil shows but not commercial and so they are drilling down further into BETH and as we all know, one or other could have lots of oil, but not both.

If that is the case then the article is misleading IMO and its lucky that all the regulatory bodies have been made aware of it.

Certain of a morning RNS now from DES.

From III.


Email from Buchanans Surf-Noodle 4

I sent an eMail to Tim at Buchanans saying:

"As a Private Investor and shareholder in Desire Petroleum, I was very disappointed to see this news in the public domain today, without any official communication from the company. The headline alone is bound to cause many investors to panic and sell shares which will doubtless have a negative effect on the share price, and my personal investment. Can you please provide me with an official comment to either confirm or deny this story before the market opens tomorrow morning?"

He replied (and good on him for doing so IMHO):

"Thank you for your letter. This article was not sourced from Desire - a RNS announcement in response to and to clarify the situation will be up at 07.00 tomorrow, 29 March 2010."

Can someone please post the article that appeared in the times?

Click the link in Post 4103 on page 206.

My guess is (having read a number of other BB's) that the article is essentially correct & the journalist in question has covered his back fairly well. I would now assume that the DES RNS will be issued tomorrow morning, ahead of the intended time. The problem is that the sp is likely to be gapped down, so pointless putting in a stop loss or limit sell now.
Win or lose, we all knew the risks which have been debated on this and other threads, so trading them along the way doesn't seem like such a bad idea after all.

With regard to RKH the share price will possibly fall to 40p on Monday which is a shame as it has nothing to do with DES.
How could this company be valued at 400m is a mystery to me better prospects at COV where they have found large gas.

I assume there is at least some truth to this story, if not nearly 100% accurate. Much will depend on tomorrow's RNS and the market reaction, I imagine 50p is on the cards, but this was and remains very speculative and the first drill isn't the be all and end all. I'll assess in the morning and decide whether to take my medicine or stick with it. Hope no one has got the town hall riding on this!

The well drilling isn't over so 50p seems incredibly harsh.....might not be as bad as it seems...another year's drilling ahead at least....on the pullback : there will be buyers...I won't be selling....in for the longterm...unless the rns is terrible which I doubt.

Just speculating RF, no-one knows what tomorrow morning will bring, many scenarios spring to mind, not least Liz is non-commercial, SP tanks, Beth proves a winner, SP rockets. Probably wishful thinking though :-)

They are still testing and you dont test dusters!!!

So what you make of the articale in the times markymar?

more importantly is that DES has seemingly promised a clarifying rns first thing tomorrow

For all the people whom still believe then tomorrow you will be able to buy very cheap if the shares are not suspended.

Opening price of 60/65p first thing and who knows where by the end.

I still hold a small amount after breaking even so I will just continue the rollercoaster ride (been a long 4 year ride) with no big deal if they go to the wall but a nice smile if they can extract oil at a profit. Wishing everyone that has faith in DES every success

Markymar,Whilst not having a position in DES i can understand to a limited degree the indignation felt by holders, like yourself, who have followed them for years, or those, who are left exposed with an overweight position ..lt would have been less painful for s/p had DES issued a drilling statement ( admitting current problems but inherrant with positive noises for the future ) before the Times article made it look a bit of a dog. But surely that is the nature of the beast .lts a cliche; but Risk v. Reward /Greed v Fear is the main plank of capitalism . Surely. We cant all start getting uppity when variables totally beyond our control seem to conspire to doom us. Lets not forget this well was never given a high chance of commercial success . lt was an exploratary well . l agree an RNS keeping s/holders abreast of events- a drilling statement - should have been released long before a "source" { albeit seemingly reliable }within the ranks of Murdochs empire dotted the "i" s and crossed the "T" s for DES. ,That was wrong ,,ln situations such as this i have found the mkt always initially exxagerates a retraction .ALWAYS ! ,,,,,,,,,,but i could see 60p breached temporarily but as they say even a dead dog bounces ...Des will move on . the next well spudded. new buyers appear doing a little bottom fishing and the game starts again ,,,,,

Not too long to go now and we shall all now the real truth and the reality of the situation.


For those long in DES they are probably hoping this was a short wave radio hack who spread malicious information designed to be heard knowing that it would get fed back. Perhaps it was designed as a shorts closing exercise as they know that DES have hit something good and with testing ongoing they do not have long to close their positions now.

For those short on DES they will be hoping the story is true and will attempt to incite mass panic to get the lowest price to close their shorts.

Me, not fussed either way as I shall not be selling my wee holding here, far too many more drills to come. However, I do not like the potential for malicious intent which is why I have reported this to the authorities. If the Times article was based on malicious information spread by someone trying to cause problems, then its going to make news, not for the content but for the embarrassment it will cause to all when referenced to in future.

Only a few hours to go now :) Exciting...... :)

Basically Prose. thats part of my very point...Long term -This is merely the start of what is a pretty intensive drilling programme scheduled for drilling a number of leads , so why would anyone sell now ? .lts like leaving the match after your team goes down by a goal after 10 minutes / l believe that each,and every time, a well is on the cusp of a result the s/p will rise to about the same levels as now anyway . But we live in an age of Jam today.So short term - lf news is to be believed the s/p will be adversely affected - the damage is done. Even shorters will find margins on premiums restrictive .With not having held stock for over 4 years and having not properly researched DES during that time i am left pondering what would be a good trading entry point ....gut instinct says 50/55p ..but something tells me it will bounce before that level...and as drilling continues it will slowly creep back up to current level,,,,,,,,,,,,,,,,,