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

Update from Westhouse

"Malcolm Graham-Wood, director of broking at Westhouse Securities, comments: "What looks like an excellent result from Rockhopper and with 100%, if the well is on target for the mean recoverable number of barrels of 220 million then the unrisked value per share is 308p. We need further data and info from the company but we have said that they have the biggest potential upside (354p) of the two drilling this programme."

Proselenes,

Thanks for that. A lot clearer now.

in at 44.............out at 54 .....a bit premature i know........but have a feeling buying will tail off and finish day at 50p level..........good luck et al.........................edit >......and back in at 58p ....

RKH update from Oriel.




"Rockhopper Exploration (RKH, under rveiew, 77p) - Sea Lion oil discovery, initial thoughts

Rockhopper has announced that initial indications are that the Sea Lion well in the North Falklands is an oil discovery

The well encountered a 150m gross sand and shale interval with 53m of net pay in multiple pay zones. The thickest zone had net pay of 25m

Average porosity is c19%, but there was no indication of permeabilities at this stage. This remains the key uncertainty given the quality of reservoirs encountered to date in the North Falklands, including the Barremian interval being targeted in this prospect, has been variable

Additional logging information is being collected before a decision is made whether to abandon the well or suspend it for further testing at a later date.

The net pay encountered appears to be larger than that used to estimate the P50 pre-drill resources of 170mmb for the prospect. Our analysis of the seismic time section in the CPR suggests the targeted reservoir interval had pay potential of c20-30m to derive the pre-drill volumes, although this has not been confirmed by the company

Based on a notional US$8.5/boe valuation (may prove to be conservative in a US$90/bbl environment), a 170mmb discovery would be worth c600p/sh

Although early days this is clearly an encouraging result and the positive share price reaction is not overdone. The result also has positive implications for further prospectivity on both Rockhopper's and Desire's acreage in the North Falklands, particularly the Barremian fan plays on the eastern basin margin (Rockhoppers' analogue prospects include Fox at c144mmb and Stephens at c106mmb)

Our recommendation is under review pending a further update on the well, especially any data regarding reservoir quality"

TFC

I think i might have done better then that last month , done a DES day trade bought @ 40 sold @ 50.

Also bought RKH @45, sold today @ 81

TFC , you always seem to go missing, 3 years ago just before the toxic banking loan's then just before the BP oil spill and the trouble in greece...... lol

Hmmm. Decided to bite the bullet on Monnday night and set a stop on my DES shares. Didn't bother to log into my account until this evening and was quite surprised to find the position still open and obviously in better shape. Seems I missed being stopped out yesterday by 0.5p!!

good - you deserve some good fortune, though goodness knows what tomorrow will bring.
i have never ever seen such gyrations as have happened this evening on wall street, and don't want to again .... wonder where it will close tonight

Thanks Richard, I generally guess the direction right, but too early, get stopped out by a few points for a loss then watch it do what I thought it would. Hopefully DES will continue to 'piggy-back' RKH and hit a decent recovery themselves.

The performance of the DOW is incredible today, although fantastic profits to be made, happy not to be invloved.

nordcaperen - 26 Apr 2010 11:54 - 4374 of 4402
just another pump and dump oil stock

hlyeo98 - 26 Apr 2010 11:59 - 4375 of 4402
Marky is very speechless nowadays.

It's a bugger isn't it when a plan comes together!! I have been waiting (and in big time - for me!) for four years having been involved in the VERY early survey work in 1981.

Now let's see if it is another 30 years before Total and others start on the Antarctic Peninsula. They have already test drilled on Anvers Island in the Wedell Sea.

a
my data doesnt go that far back but all time closing high appears to be circa 124.5 and a fibonacci 50% level is 62.25. that may, or may not be considered the first major resistance level to overcome. which it did today, intraday that is.but it closed at circa 61.75 which is so close on its first attempt.thats pretty close which i find curious.
additionaly using the same 50% fibonacci of the oct 08 low of circa 18.8 and the jan10 all time high of 133sh we have 75.9 and todays high was 77sh. that also is pretty close which i also find curious.what happens next i dont know but i still think it has to get above 130sh and stay there to prove itself,. naturally this is my interpretation of the chart, which many say cannot interpret or show or have any meaningfull input on such r&d stocks . i disagree, but then this is all just my opinion and please dyor.
good luck to you.
regards
jkd

avsec - 06 May 2010 21:57 - 4403 of 4404 ....R U saying there that the Yanks have drilled a test Oil Well on Anvers island????!!!...Presume this was based out of Palmer Station if it ever happened?

No it wasn't the Yanks - they practiced drilling through a glacier to prove it was possible to drill through moving ice.
The French were on Anvers Island IIRC. I can always look back through diaries.

avsec...I have been to Anvers Island and enjoyed the tremendous hospitality of the Yanks at Palmer Station and find your suggestion of the Frogs drilling an Oil Well there, very hard to believe.

Desire rocketing now.....quite incredible days...

only on the back of rkh and thats now retreating so will des..

Balerboy on level 2 the buy book is double to sells which only means one thing.

too much hot money in here here for an old campaigner like myself ,,...l am an old fashioned percentages player ,,,bought back heavily @ 44p and sold at 54p and back in again at 58p and selling now at 93p,,,,,,im not a greedy m/fooker lookin to hit this one over the fence ...Reg. DES ,,,,,literally years b/fore any payload ...or come to that a wait until Q3 until spudding even- let alone a strike ......so ill await typical market fatigue and look to take a long term position at a later date. .......edit > Have a notion DES will return to lnitial PRE drilling s/p trading between 110p/110p parameters

roly - a reason for everything my old mate -dissappearing is my forte ...-hoping you understand ....im not ignoring you / spooks and regs on my case ..- juste survived FSA enquirry and face a naked shorting case next on dual listed berlin/bremen and LSE stock- ya know the typical route for bank holiday short sellers ..../ my ass always in hot seat ./ innocent as always !!!!. ...........dont want any guilt by association so dare not e-mail anyone.............avsec - You are quite correct .-we French spent a long time recogging Anvers well before yankee F$$K UPS arrived

Frogman - so the regs are chasing you are they ..... silly boy and trust you are squeaky clean ..... i don't happen to agree with re DES .... there is now proven commercial oil in the region and DES have fingers in several pies, so i reckon the risk/reward is pretty good

Hang on....commercial needs a flow test....not yet done...oil but not truly proven until flow for at least a few hours....but at a guess I'd say Rockhoppers discovery is large enough....it's the rest of the area that all is still in the dark except for their gas discovery....stock now valued towards level with GKP....a little high perhaps ?...