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

anyone get in at 42 just tried tou buy now offer price is 53

Point being Greek, you either believe in TA or you don't and as a believer it was all in the chart, hence my chagrin this morning. Having said that, anyone short was leaving themselves wide open to unlimited losses, being long is containable, you can only lose a quantifiable amount!

Don't get caught up in the short-term rf. These are traders stocks and will run for some time. Just keep your head, buy at low levels and over a 6 mnth period you should at least break even. Motto is don't panic!

BB - certainly wasn't one to short even if possible as guaranteed stops would have been impossible .... bought a few more this morning because drop looks stupidly overdone, which i may well just trade

buy at low levels rf and hold for ever..............

Overslept this morning and missed all the fun.

it's ok mitzy, nothing missed,, except marky.... he's got his head in a bucket, trouble is it's got holes in (like DES) and drowning is difficult.

Ptholden,

I 'do' get your point. But just think what you would have thought about the chart if the results re Liz had come out this morning being totally positive.
I think charting is fine for many companies, but not for companies where a blue sky or bust type RNS can change the sp drastically within minutes. Anyway, as you hint, it is academic now. It's still down to just watch and wait time.
Agree re shorters.

regards Greek.

Lol Balerboy.

Greek, I would have thought, bugger, TA didn't work for DES!!

L2 is fascinating, sorry to keep harping on about it but LIBC are moppping up stock and clearly are filling a large order, as long as they remain on the Bid this will keep going up, they all clearing through the Book, taking out all the sell orders and getting amongst the other MMs, who will retreat, thus driving the recovery.

Surprised no-one has questioned whether the possible true results are being masked or damped down due to Foreign Office involvement in order to "manage" the Argentine problem. DES could never had been allowed to report a blockbuster at this stage... think about it.

Bull s***, and back to about 70p to level out

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Looks like LIBC trading on their own account, have appeared on the Sell side, recovery over for now, won't see above 60p until they've squared their book.

I'm going to have to blame somebody....the cat...that's a good idea,.. now where is that moggy...come here... Mioooaaaa....hey ! where are you going ?...come back here...well that didn't work...now ...who's next ?...my little sister ?...yes I know.. I'll ambush her....ouch.....she's just kicked me in the shins...the little cow...that's gratitude for you for investing her pocket money in a dud stock.....I better go and have a cup of coffee...

PS...no animals or little cows were hurt in the blog making...(disclaimer)...

The important thing for DES now is to find out how much gas is there at that well. Potential for lots of it. Wait for logging news on the deeper stuff.

If you want sensible discussion on the DES news, read here.

http://boards.fool.co.uk/Message.asp?mid=11879935&sort=whole

If Liz see's flowing gas from those deep orange Syn-Rift sands (and there is a lot of it, as per the graphic) things become exciting again but it needs to flow and be of size.

http://i50.tinypic.com/3338snr.jpg

So the logging news and the gas news is very important to come from DES. People who have sold RKH/FOGL on this news were plain daft, those that sold DES today (with 5 more wells to drill and deep gas news potential) were in too much of a panic or were margin players and not paid up holders.

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I get the feeling that the gas might be significant in this equation and why the rush to leak the bad oil news, as its devastated the price and not allowed the company to update on the gas as its not tested yet. Had they been allowed to say perhaps "no oil but 10 Tcf of gas and its flowing" then things are better, so perhaps why someone wanted bad news out before any good news could potentially be found, hence the leak to the Sunday Times - who conveniently do not mention the gas.

Hi Robstuff,

Re 'Surprised no-one has questioned whether the possible true results are being masked or damped down due to Foreign Office involvement in order to "manage" the Argentine problem'.
Can't really see any point as the truth whatever it is will be out anyway one way or another within days.
Also it would be market abuse at it's worse, just look at the effect todays RNS is already having.

thoroughly agree .... also, unless i am much mistaken, gas finds in this area have no economic value

Depends on the size....liquid gas can be frozen and transported.....at the moment the UK is importing the stuff from I think Bahrain, Qatar or thereabouts....frozen all the way to Wales....so the same thing can be done from the Falklands and a discovery between the main players in the Falklands (Rockhopper don't forget have already booked one) would be of national importance....and the sp's would respond likewise....