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

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....

Gas is presentlly imported from Qatar to the U.K. by tanker to Milford Haven in Wales.

in at 40p - and out at 51.25.....as always merely playing the percentages . That RNS couldnt have been worse had it been written by a jealous rival or a heavily exposed shorter. and methinks a truly terrific amount of gas-eg 5 trillion + scuffs at least would need to be found to support anything like even the current depleted s/p. .Oil was the remit reg DES and not GAS ! .....HH price of gas would make the costs of transporting the said gas via pipelines a non commercially viable project for starters ect ect

Exactly !...thanks....now couldn't the same be done from the south atlantic...if they find a lot....5 to 10 trillion cubic feet...between the main players....the answer is yes.....hey ! ; I can convince myself of anything !...

50p to buy but I am still not convinced they are a BUY.

Bought at 51p now...grossly oversold imo.

beg to differ- shorterm ............ Long term is a different story

Careful now hlyeo as they could fall another 50% short term.

If you are buying for the long term ....but short term....it's a gamble and the next well is mainly for Rockhopper...

The thing was to buy on the rebound into DES this morning sell out and into RKH...

Gas would be very viable IF IT FLOWS and if there is a large amount there.

I mean, look at the orange Syn-Rift (where they hit gas) it is massive and the potential is for a huge find.......so do not write off the gas just yet. Admittedly its a very slim chance, but if it comes in then DES is very cheap presently, especially with 5 more drills to do.



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This sounds like a duster in which case the shorters are right and PI's should move on till the next spud.

29 Mar 2010 13:47 - 4200 of 4201
Gas would be very viable IF IT FLOWS and if there is a large amount there.

I mean, look at the orange Syn-Rift (where they hit gas) it is massive and the potential is for a huge find.......so do not write off the gas just yet. Admittedly its a very slim chance, but if it comes in then DES is very cheap presently, especially with 5 more drills to do.

.....not quite correct, Pro. You're not including Desire's farm-in into FOGL's 'Toroa' field - details of which have yet to be released, as I'm sure you're aware; also, one of the five wells is a double-whammy, ie., two birds with one stone, much like Liz/Beth scenario only this time it's Jacinta/Dawn, hence we really have another seven bites at the cherry before we all go and jump off Arbroath cliffs or somewhere similar !, (if nowt is found, of course !).

By the way, you're a breath of fresh air on the boards with your very informative posts. Cheers !

Anybody want to hazard a guess whether this is up or down tomorrow?

more down yet.....i am affraid.....next positive news before it turns blue....so maybe sometime in april......catching the falling knife time.....got my fund ready....

still a holder......

There is little oil in the Falklands so I dont see the attraction.

perhaps more than you think mitzy....more shots at the target to come this year....keep your eyes open for positive RNS

mitzy thinks CHAR has more in that blue sky of theirs!
that said, i don't think the update from DES later this week will be anything to cheer about ..... the only question is whether or not it will affect sp in either direction

Mitzy,

Although not in Des (in three other FI shares) the comment 'There is little oil in the Falklands, so I don't see the attraction', is not the sort of post that makes any sense, especially when the poster can only Guess.
OK they may be right, but the several years spent on gathering all the viable data, indicates differently.
So unless they have the magic gift of seeing into the future, I respectfully suggest they resist from making, 'grab in the air comments, when they don't have the evidence to back them up.

Opinion/views are different from a comment that reads as if it is fact.