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

Satisfied then crucified.

It's April fool's day mitzy.....sp going lower is a joke....come on lighten up..

Oh I forgot it was April today I get it now.

as there is no news.....the s.p. will slip down.....these things dont have a tendancy to be positive unless there is positive news or rumours.....and not yet... is the phrase

those whose proclivities lie that way find crucifixion very satisfying, so not the other way round

Do you like Rock Goddess..?

Black Sabbath (or dominoes) will do for me

men in black do for me.......

Thats kinky.

and they were a good rock group ...Ray Davies and all that

can someone explain why TLW has reacted favourably to the following P&A rns .....

Oil and gas company Tullow Oil says the Likonde-1 exploration well in Tanzania has encountered thick sands with hydrocarbon shows.
The well, which is now being plugged and abandoned, is the first of a two-well programme within the prospective Ruvuma delta region.

Tullow says the encouraging results will be followed up with detailed technical work before selecting the next drilling location.
Exploration director Angus McCoss said, 'Likonde-1 is an encouraging well with follow-up exploration potential. The valuable technical insights gained are now being incorporated into our regional geological model to further evaluate this promising basin in Southern Tanzania.'

Not every well will flow 5000 barrels of oil.....but if you find the edge of a reservoir : you get traces ....this is probably what has happened....

Ps...wrong thread.....talking about AEX...of course...

RNS still drilling...getting toothache!

What RNS?

this one .....

Desire Petroleum Plc (AIM:DES) the oil and gas exploration company, wholly focused on the North Falkland Basin, wishes to provide a further drilling update on the Liz 14/19-1 Exploration well, where wireline operations are continuing.

From the interpretation of the logs received to date, it appears that the deepest play type is still undrilled and Desire's intention is to drill around a further 200 metres to test this play subject to operational constraints.

Wireline logging and sampling have been completed on the lower section of the well, primarily below 3,400 metres where the deeper gas shows were encountered. Petrophysical interpretation indicates that gas pay has been penetrated but that the reservoir quality in this section is poor.

Wireline sampling and pressure recording has still to be carried out on the primary Liz target and a number of other zones where hydrocarbon shows were encountered.

Final completion of the well is expected late next week.

Thanks for that. Escaped me somehow.

Memo to self, must keep awake.

cynic,
do you consider this RNS a glimmer of hope for DES's first well or do you foresee a P&A? Crystal ball type question i know. I hold and consider it a glimmer of hope but not enough to top up yet [sat on a 60% loss] though i did trade a few on the bounce
Alex

Very interesting news on DES, the non mention of Beth all the time, and now the mention that the "deepest play remains undrilled".... so far :)

The bad one might turn good by late next week.

If it does I wonder how many people will be really upset they sold ?.

robert - no good asking me i'm afraid; marky is much more technically informed .... however, on the basis that DES thinks it worth continuing to drill and P&A is not necessarily as dire as it sounds to us amateurs (see post 4282), then the jury remains out ..... market (non)reaction, even after this rns, implies that the specialist analysts are also unsure