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

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....

Not at all convinced by this....market cap.....more than 350 million on nearly 100% potential with not much to show.....

attached is a comparative chart that surprised me no end ..... rkh (blue) lags DES (red) performance by miles!

wrong way round RKH has multiplied several times des hasn't

robstuff on DES thread has pointed out, absolutely correctly, that it is RKH (red) that has outperformed DES (blue) and of course FOGL (Green) - as it damn should have done

you total knucklehead cynic!!!

This will end up by being a short unless some big discovery comes their way.....at the moment a discovery is already priced in to the sp.....how can this go up to 400 million without any black stuff being proven....

Amazing pictures from space where in the central atlantic there are two hurricanes "Igor" and "Julia" side by side like two galaxies, heading west.....if any of these two heads for the gulf : up goes WTI....

cynic you need to go and lie down.,.