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

For immediate release 29 March 2010

Desire Petroleum plc

("Desire" or "the Company")

Drilling Update


Due to recent press speculation, Desire Petroleum wishes to announce that the Liz 14/19-1 well, in the North Falkland Basin, has reached a depth of 3570 metres and logging is underway.

The primary Liz target was encountered at around 2550 metres with indications of hydrocarbons while drilling. Subsequent logging operations have shown that oil may be present in thin intervals but that reservoir quality is poor. Wireline sampling is still to be carried out. Deeper gas shows have also been encountered while drilling, particularly below 3400 metres and these have still to be evaluated by wireline logging and sampling.

Until the logging is complete and the results analysed it will not be possible to determine the significance of the hydrocarbons encountered and whether the well will need to be drilled deeper, suspended for testing or plugged and abandoned.

Operations are expected to be completed later this week when a full announcement will be made.
For further information please contact:

Desire Petroleum plc

020 7436 0423

Stephen Phipps, Chairman



Dr Ian Duncan, Chief Executive Officer







Seymour Pierce Limited

020 7107 8000

Jonathan Wright



Christopher Wren







Buchanan Communications

020 7466 5000

Tim Thompson


Chris McMahon


Is this good or bad? and if bad how bad? anyone any ideas on SP at 0800?

Not too great for this well, but they are still evaluating and drilling possibly sounds like there may be better gas than oil if anything commercially.

As far as other prospects, the chances are increased as this well proves working petroleum systems do exist in the South Falklands basin.

So, this news is pretty good overall.

Rose tinted specs poo...

No because I don't hold but I can read.

Just like all football supporters there are those who do and those who don't and won't under any circumstances view anything positive about a team they decide to dislike or just be jealous of.

Before we know it there will be violence on the streets as rival supporters meet and decide to settle their differences in the usual primeval fashion.

As said they are still testing and you dont test dusters.....

Actually Mark, they do!

For testing when they have other prospects to drill in the same geological environment.

well that price is a joke am buying

strewth ..... you could genuinely have bought at about 43 before shares were suspended again .... did not expect that bad a hammering

I agree with you TheFrenchConnection 4135 let the rollercoaster carry on. I maybe one of the buyers if the price is right. Never risk what you can not afford to lose that's my strategy. just tried to get a price from my broker and they say sorry not at this time try agian later .

markymar,
i agree just trying to decide on which to buy RKH or DES?

God......agghhh !....what a drop...

DES is still suspended, but RKH tradeable and offered at 31

whats happened to des? why the drop?

we're all doomed, doomed I say....... RKH best bet now..

des is trading i have just topped up, and Beth they are still testing....tum tum tum

acw

Is that a sick joke ?

80p I said and it drops to below 40p...hell....

rkh and des both good bets once the bandwagon joins in at the low price

Am glad am off to work as the drop is over done and glad i have topped up and news of Beth to come very soon.