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

cynic you need to go and lie down.,.

not with you, that's for sure!

Guys : check out MML.....Medusa Mining and the price of gold...

i don't snore........only fart.,.

profit banked at 112.75 ..... profit of say 8.5p after commission; very happy after less than 48 hours holding

I go and get logs out the field and the price goes up...hmmmmmm

You've done the same Cynners.....put my gains into RKH....not sure about DES....market cap far too high on the back of Rockhopper...it's as if a big discovery is already been bagged.

not exactly ..... haven't added to my RKH holding, but merely banked a nice profit on DES which looked a good trading opportunity - and so it proved to be

Market very bullish for Desire Petroleum.....nothing booked as yet apart from the gas discovery which on its own is probably uneconomic...on the spike up, I could not resist the switch over....will come back after testing is complete....there could be a very sharp pullback for that company on a change of view...very sharp....slow climb turning into a 30p drop.....sp far too high at the moment...
Check out some gold stocks....being in one or two apart from CEY is a must....

There are some incredible pictures from space on the saffir-simpson weather site....2 major hurricanes and almost a third one over the Yucatan penisula (Mexico)....probably just a tropical storm but it has spirals....3 in a row....I fear it will be a miracle if one of the two big ones doesn't hit the east coast or florida....heading straight for it at the moment....could affect american suppies of crude....

Think you guys need to bin RKH and buy back into DES .

RKH will grind to a halt after Flow Test as DES will have the OG for 4 back to back drills...RKH kitty will also be nearly empty and need refilling before proceeding...postive flow test results may see RKH sp going up another 40% and a successful Rachel drill should lift DES sp by 200% or more.

Very interesting that Dawn/Jacinta will be the next target drilled after Rachel and that they expect them to have a different HC source than Ernie, despited being next door....migration from the North Kitchen for Dawn/Jacinta rather than a local source rock.

Who says that the next target will be successful....the risk is huge for DES shareholders...a dry well and you are looking at sub 50p again....

you're spot on RF
however, it's an interesting call as to whether or not DES is now undervalued relative to RKH
my money says that DES is a good trading stock in the present climate - so i do not mind at all that price has improved further since i banked my profit yesterday - as if the RKH flowtest is good, then though DES will benefit, RKH will benefit even more AND RKH happens to have a 7.5% stake in the relevant DES licences

Exactly, and I sold at just over 116p....so at the present moment not too bothered about todays rise.....so far.....

If the probablity is that RKH test will be good, I feel that it is too early to be out of any of these. Am holding with a limit sell, pending SL results. Calculated risk, but more upside that downside, imo.

For what it's worth, agree with Harry. All will be influenced by RKH, decision time is on or after flow test results. A hold for now.

Des will probably along with RKH go up.....not so much.....because so far it has next to nothing to show, but the pullback afterwards could be severe and I cannot watch all the time...some days I can...others I cannot...DES is overvalued now, so god knows how could it be valued at say 450 million pounds if RKH comes good...crazy....I fear a sharp drop back to reality....

RF, the flow test will be postive next to drill is Desire the only way is up.

You don't think that the market cap is too high ?...on positive results from Rockhopper : this could rise as well but not so much as RKH....and then with a market valuation in excess of 400 million I fear a pullback on punters thinking that the next well could turn out to be a dud....

StockMarketWire.com
Desire Petroleum started at Evolution with buy rating, 136p target price.