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

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

Hi berlingo

Yes loads of day traders will be taking profits all the time. It depends on if you are a trader or an investor. Buying on the corrections is a good time to buy, but if the main trend is up. Let it be your friend. This means timing isn't to crucial. The news is comming. DES is holding out for the best option. With this in mind I think it will please investors.

Good Luck

Eddie

Hi all

It looks to me the support will be about 0.65p. The next will be about 0.76, 101p, 142p. Before we see these supports you will see them as resistance first. Looking back on the charts to see how quick DES shot up. I have the following prices & dates.

18/05/98 174.5p
19/05/98 209p
21/05/98 414p
22/05/98 415p
26/05/98 445p
27/05/98 377p
28/05/98 260p

After that DES was in a down trend. So we must be carefull with our profits. Setting up a stop loss is a good idea. DES has more acurate information now. DES could not afford to get it wrong, as it could mean the end for them. I think investors would never look at them again if s--t hit the fan. The news should be positive.

Good Luck All

Eddie

Eddie, thanks for the opinion, it helps me sit in the waiting mode (top up looming). They are no doubt in a good position to negotiate a sound future and having the pattern of share price from the past to support how important it is to consider the investor's, I am hopeful of being rewarded for patients and a logical approach to the company and their position.

watcher.

Hi markymar

Good to have you back !

Eddie

Good morning all, Do you have room for a new "investor" & please allow me to emphasise investor. Been researching since November 2004 unfortunately missed the "overnight" hike which took place 10/11/04! Found your posting very helpful but still have a lot to learn about DES, didn,t think I could afford to wait any longer still, we shall see. IMO potential appears to be sound. Good luck.

Hi Eddie and all,

Good to back after break away with family and glad to be back next to computer and keeping an eye on my shares.

Last week watching the teletext on TV had the shares going up and down like a jojo.A lot of people expecting news soon and when it comes I hope I see many partners and many holes to be drilled and Encana are a 100% in the frame as one of the partners.

Time will tell if am right and the board of directors meet on a regular bases and if something needs to be disused a meeting is held when ever needed .News will come soon am sure I was under the impression it was going to before Christmas but this is a big deal and am sure this time next year we will be a lot wealthier and Jinknill welcome a bored the good ship Desire and hang on tight because this rollercoaster ride will be one which you will never forget.

Regards all

Markymar

Welcome back markymar and welcome to jnkill.Enjoy the ride.

markymar & berlingo, Thanks for the welcome-in fellows, appreciate it and your advice. Good Luck.

Hi, Eddie.

It's Kus here (from the COP thread). Noticed that you seem to like these OIL stocks! With the huge global demand already upon us - any others to tip?

Demand is only going one way (North!) so picking the right ones could yield a magnificant harvest!

Regards,

Kus.