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

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

Hi all

Well looking at todays trading, where the DES has opend at 0.68p, high 0.71p, low 0.67p & close at 0.68p. Put into a candle we have a long thin vertical (high & low)line. A thin horizontal line (open & close). The candle type is called Doji. This candle means the buyers & sellers have come to a crossroads. Meaning the market may be in transition. This could mean the sellers become buyers, sending DES upward. It could also mean the buyers become sellers, sending DES down. I have looked at the volume of sales, which has icreased over the past six days (712k, 1.225m, 1.421m, 799.0k, 1.55m, 3.092m). The fact that the volume has increased, makes me think news might be about to break. If we start to trade up after the Doji, we can take this as being a bullish signal. Down wouldn't be good ! The Doji says the market is in ballance, so which way will the scales tilt. Bulls or Bears ?

Any thoughts ?

Good Luck All

Eddie

Fibonnaci fan retracements have been very accurate in predicting the pull backs from each spike up. If indeed today was the high for this spike at 71p then i expect a retracement back to 66p to 64.25p.

Hi momentum

Yes I have also seen fibonnaci retracement. Each retracement has been broken so far, but to see the Doji candle at this level is going to be a strong indication of the markets sentiment.

Good Luck All

Eddie

Hi all

just looked at the candles in a different light. I blended them into weekly candles. The picture then looked different, on weekly candles we have already seen the doji & the gravestone doji side by side. These were over the christmas & new year period. The weekly candles show the two strong weeks since new year. There is a bit of resistance at 0.71p area. So lets hope we continue up. (The candles on moneyam are not the same as the program I use, but the chart below is as close as I can get it).




Good Luck All

Eddie

eddieshare what are your current thoughts and short term projections for sp ( subject to no news).I'm looking for one last top up.

Hi mingbeaver

I'm not a stock broker, but even they can get it wrong. So here goes. DES has just droped through the 10 day moving average but is still above the 20 DMA. (The red & blue lines). This is a good indicator. But as momentum pointed out 0.71p is a retracement area. This should be treated with coution. The main trend is up so there is no real reason why it should change, apart from bad news. I don't see any bad news coming so I think the 0.71p will be broken. There is support at 0.60p. If DES announces good news, the candles will shoot through 0.71p. So I think a top up would be in order. Remeber to decide where you want to get out, just incase DES goes down. If you already have DES you should be in profit.




Good Luck

Eddie

thanks eddie

yes already in profit but like you, only envisage good news between now and easter. I think the news will send des to circa 1.50 over a four day period. What sp do you think will be likely.(assume "average" news ie. farmin partners but be realistic about des%. Do the charts from the last rns about 3d give any clues as to how the sp will act.

thanks again

ming

Hi mingbeaver

I wouln't take just a three day look at any share. There has to be a whole picture ie news, results, direction of the share price. As I once read. Let the trend be your friend. The main trend is up for DES & should continue. To estimate a SP without news I would suggest upto 100p med term. The fact is we are exspecting news & this will definatly play a big part on the SP. In shares mag it was said if DES holds ony 10% after farm out the shares would be worth 400p or nothing if no oil is found. So news is important.

Sorry you meant 3 D survey.

Good Luck

Eddie

thanks eddie.

markmar where are you

Hi all

Looks like we are building support near at about 0.65p. Most of the recent moves have seen short term resistance. For instance we took a while to go through the 0.55p mark. This you can see by the candles goin sideways. Trading upto then closing bellow 0.55p. Retracement is generaly half way down any large blue (up candels). Looking at the chart bellow, when the red 10 day moving average drops bellow or comes close to the 20 DMA there are big blue candles to follow. ie this being seen as a good buying opertunity. Today has been evidence of support. DES fell sharply in the first hour of trading & then recovered during the session.



Good Luck All

Eddie

Well done Eddie.We should all be in profit from the recent rise.I am considering another top up,my third,and following your chart postings almost certain to go in again.Thanks for all the info .
Has anyone taken any profits yet ? I can smell an announcement any day!

Hi mingbeaver

Did you go for the top up?

What system are you using? If you don't mind me asking. If you want to answer in private you can click on eddieshare. I will respect your decision not to answer also.

Regards

Eddie