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

Oil

For oil, since September 1995, and after years of discussions a formal agreement which was endorsed during a meeting in New York of President Menem and Prime Minister John Major, has opened the field to cooperation and joint exploration and exploitation of the south Atlantic.

The agreement has enabled the government of the islands to licence areas for exploration to the north and south of the Falklands/Malvinas which successfully took place last July 2nd., while it sets aside a joint special area, to the west where the areas with Argentina overlap and will be jointly managed.

The discussions over the legal framework for the licencing of the joint or special area, which is scheduled for next year are going ahead full steam.

The oil licencing round of the local government was preceded by the contracting of several seismic surveys done by Geco-Prakla and Spectrum Geophysical which revealed promising data. A total of six consortia, representing fourteen oil companies showed up on the closing day of the licencing, among which: British Gas with YPF; LASMO, which includes Desire a local Falklands/Malvinas partner; Amarada Hess with Evergreen; International Petroleum Corporation with the Swedish company Sands Petroleum. The fact all companies participated in consortia is because of the high cost of the drilling in this new province which is estimated between 10 and 15 million pounds for each well.





Fig: Illustrative project returns and revenue shares for a 500 million barrel offshore oilfield assuming exploration and appraisal costs of $50 million, $5 per barrel development costs including capital and drilling expenditure, an $18 per barrel oil price, start of production in year 8 of the project and peak production of 135,000 barrels per day four years later.

http://www.falkland-malvinas.com/about.asp?TEMA=fk&IDIOMA=Ingles

Hi all

Nice find markymar. All the news seems positive. Looking at your last post, its no wonder its taking a while to negotiate. This size of the project needs big money. Buyers out numbering sellers at the moment (11.00am).

Good Luck All

Eddie

I see another day goes by and no news but its another day closer and roll on 2005 and may a wish everyone all the best for 2005

2005 am sure will be the buzz word for the Falklands as we can see how things have changed this year with the likes of Falklands oil and gas and its many Co- Partners and Borders and Southern Petroleum and the most intriguing one for us Spives is Crude Oil & Gas and there acreage. When you look back poor old Desire were sitting there all by them selfs and when you look at the map we have plenty of neighbours now and this can only be a good thing.

Yesterday I posted a bit about the (special area) will be licensed by agreement between both the Falklands and Argy's together which means they are talking the same language now and working as one and the Governor of the Falklands is back in London at the moment having a series of meeting with officials and am sure this will the last barrier broken and news will be very soon of a farm-out Partners.

Just looking at the potential interest parties in the Special area set a side between Falklands and Argys and you have the likes of: British Gas with YPF; LASMO, which includes Desire a local Falklands/Malvinas partner; Amarada Hess with Evergreen; International Petroleum Corporation with the Swedish company Sands Petroleum it makes you wonder who Desire potential partners are with that world class 3 D seismic and am sure we will have a year not to forget in 2005.

All the best and thank you all for your input on this thread

Markymar

Have a good one Markymar & thanks for all your efforts re this thread.. keep up the good work. News will be forthcoming early next year & hopefully all will be rewarded.

Chris

http://www.falkland-malvinas.com/Detalle.asp?NUM=4912


2003, said Mr. Blair was a year in which efforts to diversify the Falkland Islands economy were deservedly reaping rewards; the agricultural sector had strengthened, while oil exploration projects also held out the prospect of positive benefits to the economy.

Looks like we have broken the 60p mark now so the next one to break is the high of 64p and if that breaks we are in to a new area 70p.

70P looks great Mark and 100p later in the year...

And when they do start to drill 4 to 6 depending on how many partners and how many holes.

Then the big if do the hit oil and how much ?

She is all blue today next stop 70p

Once it breaks through the 64p barrier, then we will see 70p

Hi everyone,
Well a good start to the New Year.There`s been more shares bought than sold in the last few days.Hopefully we will see an imminent announcement soon regarding the farm in . There is deffo a positive feel about DES at the moment. Does anyone know what DES`s P/E ratio is ? The smaller the better so i believe but what papers do list DES dont have the P/E !
Thankyou
Berlingo

Des dont make a profit therfore dont have a PER

Thanks for that Momentum.

Still finding it hard to 'break on through to the other side', 64/65p seems to
be an obstacle...........any views. C'mon DES

They have changed there name...intresting to know why?


December 2004 - New Licences in North Falkland Basin issued to Crude Oil and Gas Ltd [now known as Rockhopper Resources]
Crude Oil and Gas Ltd, [now known as Rockhopper Resources] a new UK exploration start-up company, has been awarded 2 licences covering 16 blocks in Quadrants 25 and 26 of the North Falkland Basin. These blocks (see A3 map available from the Downloads page) surround Desire Petroleum's blocks in the southernmost part of the North Falkland Basin. They are located in relatively shallow water (all less than 200 metres), and represent an opportunity to explore a part of the North Falkland Basin with a distinctly different structural style and stratigraphic infill to that observed further north in the area drilled during 1998.

Rockhopper Resources plan a 2D seismic survey over their new licences within the first year of operation.

Hi all

Just posting this chart. DES is looking good still. The resistance that we had at 0.55p became the support. So 0.60p became the new resistance. So we may see DES visit the 0.60p (the new support) a few times before going through the 0.65p resistance. The candles are above the 10 day moving average, which is also going up, another good sign.

Good Luck All

Eddie

We have broken 65p now will it hold and next step 70p

hi guys, a very healthy looking chart for today, but can the momentum be maintianed. I wonder if the DES board will feel the need to dampen the spirits, they have kept a steady control on enthusiastic volatility in the past somewhat. Any way fingers crossed we do not slip back on no positive news tomorrow, but you never know. I for one will be sitting tight as you REALLY dont' want to be out on this one when the news breaks (especially after 6 years!).
Marky you are are doing a stirling effort on all the boards (ADVFN is my usual).
How did your conversations with Ledingham & Chambers pan out last month, did you manage to glean any information about potential parters & progress out of them.

heres hoping for more days like to today.
Jon

Hi Jon B

I think that only bad news would send DES down. I can't see DES wanting to give its share holders bad news. So I'm sure when they make their announcment they will be grining from ear to ear.

Good Luck

Eddie