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

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http://www.malverngazette.co.uk/news/8090199.Mathon_based_oil_firm_plugs_initial_Falklands_well/

Mathon-based oil firm plugs initial Falklands well

Fair price presently is around 70p a share (with Liz as a total failure) however, if news comes that following lots of work the gas in Liz is considerable and could well be in future, with other finds and a larger total volume, commercial, then the fair value price would be far higher than 70p.

Simply, yes, its oversold presently.

People buying now should easily be able to make a good profit in the coming 6 months, more than you will get in a bank.

Lots of news to come on what the did actually find at Liz, how it effects the total knowledge pool, new targets and of course, lots more drills from DES.

The last remaining shorts now appear to be closing out, and the bottom fishers moving in, following by momentum players so yes, could well be nearer 60p by end of the next week.

Marky- One day i forsee the basins of the Falklands yielding great bounty. Of that fact i have no doubt. As reg, current situ :and i re-iterate the current situ; What could possibly be a series of petroleum systems yielding both oil, coupled with its equivalent heavy condensate, and much lighter gas is to say the least very a most complex ,complicated and diverse one: lts more like a maze -and after speaking to Jean Laherrere -a friend of Colins -One that will require a lot more interpretation, employment of state of the art tec, and most importantly a lot more drilling , and i mean a lot more drilling-much of which will be purely remedial to alleviate probs encountered at Liz which in turn will need a lot of financing ........l personally dont think DES can finance a programme of such proportion without farming out a big percentage to a component of "big oil" ..But at what cost ? J/Vs with "Big oil" are like a double edged sword with a tendancy for operator marginalizing smaller interests .......ln saying that if DES should encounter a less demanding resource in later drilling programme then big oil would be q/ing up for a stake. ...,,,,,,,,l believe they are watching and waiting,,,,,,,,,,,,,,,,,,,,,,,,,ln previous mail i was not suggesting shorting this stock. Simply that it was a complicated call

DES and RKH appear to have steadied up for the past 3 days. Is there a pm due soon? I hold both but I am getting itchy feet.

However I have been in heavily with FOGL and BLT for a couple of years and I'm pleased to see them continue to move steadily upwards.

Just to let everyone know - i have edited my post4357(p218) as follows,
i have added the following 3 edits, (page199), (this page) and "plus my posts since". all else remains the same as original post.
regards
jkd

From todays DES results :

http://www.investegate.co.uk/Article.aspx?id=201004200700094297K

".....However, notwithstanding the potential positives we see from our own geophysical work and from Senergy (GB) Ltd's independent report in to our prospects, only by drilling wells will we truly be able to unlock the potential of the North Falkland Basin. Our first well, the Liz 14/19-1well was spudded on 22nd February 2010 with a target depth of 3,500 metres. After drilling to a depth of 3,667 metres the well was plugged and abandoned as a gas discovery, with 17 metres of net hydrocarbon pay between 2961 and 3031 metres within a zone of over-pressured, predominantly sandstone, reservoir. In addition dry gas was recovered from a deeper interval below 3,400 metres, good oil shows were encountered in the Liz fan and oil shows were encountered in the Beth fan. In each case though, reservoir quality was poor, and further detailed work will be undertaken to assess the results. A more detailed appraisal of the Liz well results will be included in the Annual Report and Accounts.

The Liz well proved to be complex yet it was highly encouraging. Hydrocarbons have been found in at least two separate intervals, the geological model for the basin has been confirmed and at least two petroleum systems have been found to be present, with hydrocarbon shows recorded over a wide interval. It was the first well to be drilled in a multi-well campaign by Desire and, after more detailed technical work has been carried out, Desire will decide which play type is to be drilled next. The Ocean Guardian is now subcontracted to Rockhopper Exploration and BHP for three wells and Desire expects to resume drilling sometime in the third quarter of 2010."

Business Financial Newswire
"North Falkland Basin-focused Desire Petroleum posts a full year pre-tax loss of $3.8m - up from $1.5m in 2008.

Operating losses for the year to the end of December rose to $3.9m - up from $2.9m last time but administrative expenses fell to $1.1m from $1.5m.

The firm has current cash at hand of $88m.

Chairman Stephen Phipps said: "It has been an exciting year for Desire and the company has made much progress in the period.

"Further detailed analysis on the Liz well is currently being carried out and we look forward to updating shareholders on the results when the analysis is completed within the next couple of months.

"We remain upbeat about the resource potential within the North Falkland Basin and look forward to recommencing drilling later this year."

" good oil shows were encountered in the Liz"......sounds promising

Hell!!! they've let marky out for good behaviour....

Peter Bassett, analyst at Westhouse Securities, commented: ""We consider that the shares have overreacted to the news on the Liz well. The well result adds to our confidence that there is a significant working hydrocarbon system in the North Falklands Basin, which could lead to commercial discoveries as drilling progresses. We maintain our BUY recommendation on the stock."

Rant........will someone tell the thick reporter they are drilling in the Falklands now and i see its just Desire causing a row..nothing to do with RKH or FOGL drilling cant even get a basic story out.thick!!!

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7611685/Desire-Petroleum-plans-more-drilling-in-Falklands.html

Desire Petroleum plans more drilling in Falklands
Desire Petroleum, the UK oil explorer, expects to resume drilling in the Falkland Islands in the third quarter of this year, potentially creating a new row with Argentina.

hear hear marky and the 3i piece was pretty crap as well.

Chav did you watch iball on iii seemingly RKH are drilling Beth its just shoddy reporting not even getting the basic facts correct.


http://iball.iii.co.uk/2010/04/21/rockhopper-amp-desire

I looked at iball yesterday and it defies belief that the media can employ such dumb nuts when there is so much unemployment.

just another pump and dump oil stock

Marky is very speechless nowadays.

gloating is unbecoming

aldwickk
re your post 4352 p218 and my reply 4354 same page.you may like to look at and see a "spike " in action in real time.over at the MATD thread.current price 58p.
is this a spike? or not? no one knows, as of today, i certainly dont.
regards to you and always DYOR
jkd

just did a bit of revision on this thread.
well done to halifax.
regards
jkd