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

maybe my eyesight is better than most........

maybe....

steady decline today (7%),is something brewing?

as far as i can see, DES is a bit peripheral insofar as it owns little of note itself, and rather hangs on the coattails of RKH ..... for sure if ernest came up trumps, DES would rocket as it has licences abutting to the south ..... however, if ernest draws a blank, as seems more likely, then DES is assuredly not the stock to be holding

indeed, there is a good argument for shorting it, as in the event ernest is a dud, then 40/50p could be immediate

to complete that, RKH could drop to 200/220, but more likely 240 given Sealion

FOGL is anyone's guess, but if 70/80 held then holders should think themselves lucky

"FIG Mineral Resources Department.

"Rockhopper Exploration spudded their Ernest well (26/06-1) in licence area PL024 on 23rd July and have announced that the well did not encounter any oil shows. The well has been safely plugged and abandoned This was another first; the first well to be drilled in the southern part of the North Falkland Basin and the data will be of huge benefit to the understanding of the geology in this area and will assist companies in deciding where to drill future wells.

The Ocean Guardian has moved to Rockhopper Explorations Sea Lion well, (14/10-B) that was drilled in April/May where hydrocarbons were encountered, resulting in the well being suspended for re-entry and testing. After testing, the well will be permanently plugged and abandoned. The current programme includes anchoring up, re-entering the well, drilling through cement cores and locating the hydrocarbon intervals, testing and plugging the well, is anticipated to last 25-35 days. Actual flaring of hydrocarbons is likely to last less than 48 hours. These are encouraging steps but there is no gua guarantee that the well will produce commercial hydrocarbons until more appraisal wells are drilled and further analysis is carried out over the following months and years to establish the economic viability of the field.

After the drill stem test on the Sea Lion prospect, the rig will be contracted by Desire Petroleum and their Rachel structure will be drilled which is located south of Sea Lion in licence PL004."

There was nothing fresh in the latest DES/RKH EIA's that have just been through FIG...merely extensions of the current ones till at least Feb 2011.

http://sartma.com/art_8016.html

Falklands : DIRECTOR OF MINERAL RESOURCES REPORT FOR FRIDAY, 27 AUGUST 2010:
Submitted by Falkland Islands News Network (Juanita Brock) 05.09.2010 (Current Article

StockMarketWire.com
North Falkland Basin-focused Desire Petroleum posts pre-tax losses of $6.4m for the six months to the end of June - up from $265,000 a year ago.

Operating losses were $6.5m compared with $350,000, in the corresponding period last year.

The firm had cash and cash equivalents of $68.7m compared with $40.6m a year ago.

Chairman Stephen Phipps said: "This drilling campaign in the North Falkland Basin has started very positively.

"Our first well Liz discovered gas in two zones and on the Sea Lion prospect drilled by Rockhopper Exploration, a potentially significant oil field has been discovered.

"The confirmation of oil in the NFB has clearly significantly de-risked the rest of the drilling campaign.

"With the 'Ocean Guardian' rig due to return to Desire within the month, we now enter an exciting period of drilling activity which may see us drilling up to four wells back to back."

Chances are that one of the four's going to produce the goods you'd think.....?

Off topic : massive hurricane heading west...I think its name is Igor.....could add to the bull run on oil.....to view amazing pictures from space live, log on to www.nhc.noaa.gov/, and then click satellite, and then their floaters or best of all is the atlantic wide view via flash or java.

You've got too much time on your hands rf! Go out & do some gardening or service the car! ;o)

Not a bad idea.....in fact I have not enough time....too much to do....

Posted hurricane heading wrong way....corrected...heading west...looks a bad one....

Sea Lion prospect drilled by Rockhopper Exploration, a potentially significant oil field has been discovered.
Like that wording......someone with a bit of sense.

sp powering away today with bid 3:1 against offer ...... not a bad punt i look to have taken yesterday

Becoming very desirable......this is 100% on potential.....nothing concrete....will crash if nothing commercial found....looking good today...anyway....

would not disagree ..... have primarily bought to trade

At this rate it will be a job not to take profits because results from the next well are perhaps 2 months away.....and this is flying on the back of RKH....and RKH has a lot and DES.....?.....some minor gas discovery.....

sp almost dangerously strong .... though DES has lagged of late, it's worth noting that RKH has improved only relatively little

Turned all DES into RKH......done well on the switch....now overweight on Rocky ....will get my fingers burnt if Prosels and the gang are wrong....