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

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

Annual General Meeting of the Company to be held at the offices of Buchanan Communications Limited, 45 Moorfields,
London EC2Y 9AE on 8 June 2010 at 10.30 a.m.

Technical Review

3. Future Drilling
Substantial new information has been obtained from the Liz well which
will have a bearing on the remainder of the drilling campaign.

(a) Reservoir Liz encountered new sandstones which if better
developed elsewhere in the basin could be major targets.

(b) The oil and gas petroleum systems have been confirmed with
the possibility of an additional wet gas system.

(c) Liz encountered a number of different pressure regimes
indicating good seals in the basin enhancing hydrocarbon trapping
possibilities.

(d) The geological model for the basin has been confirmed.

Given the excellent news on RKH you can see the shorters on DES desperate to close positions now :)

LOL

Now where is Hlyeo!!! happy days!!!

Would be lovely to see RKH past 100p later today :)

Make them shorts burn as they struggle to close their positions.

Just closed for +10.5 - not bad for 17 minutes work :-)

DES does not have an interest in RKH's sea lion oil discovery so why the rise in the sp?

Shorts closing.............panic by shorters.