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

i did, and thought the damn thing would fall off!

try vasiline.,.

Lol!

Still think that DES is a short.....it's worth 500 million pounds wit has assets .....not much........name a company on the market valued as much with next to nothing apart from a gas discovery.....the crazy thing is : are the stock holders going to hang on and wait for the next well results...?....some big profit taking will kick in here....

marky...left my phone charger at home so knackered for texting!

Having held RKH till drill results of sealion Oil discovery, and behond, I will find it quite compelling to hold DES till the lovely Rachel gushes forth!

Who says anything is going to gush ?....it's hit or miss....500 million....nuts.....

lol

DES needs a strike and I hope they get one with Rachel. Given the comments by Pierre Jungels yesterday that Sea Lion is the biggest fan in the North, it means that Sea Lion is likely to be upgraded by significant amounts over time with more data and then an appraisal well or two.

RKH also has another billion recoverable barrels potential with Fox, Stephens and Jason and they are all very close to Sea Lion.

A DES strike at Sea Lion should see DES catch up in market cap terms to RKH, although RKH should be a lot higher by then. They both have, imo, about equal size potential in the East of the North and therefore once DES hits oil then the market cap of DES and RKH should be about the same.

Its exciting times ahead, I am 70/30/0/0/0 in terms of Falklands holdings, and thats RKH/DES/BOR/FOGL/ARG.

The three zero's will stay like that for a long time to come I think and the other weighting will stay 70/30 as, at the moment, I like the look of Fox and Stephens prospects and, at the moment, Rachel is not proven, Sea Lion is.

So come on DES, strike oil with Rachel and its going to all round celebrations again.

The downside is of course if DES do not strike with Rachel then DES alone will take a hammering, possibly back to 60p levels before a more timid rise into the next drill. But thats the name of the game and why my weighting is only 30% DES at the moment and 70% in with the already stamped commercial oil find under the belt stock.

Indeed DES will take a smack should Rachel be abit dusty, however DES will take a very large spike should she come in like sealion.

RKH are now out of the news for a bit whilst DES take the OG over for 5 months or so...RKH will also raise some more cash before the next phase with sealion.

For those reasons I've sold RKH and solely into DES for now...3rd time lucky for DES drillbit???????????

marky...Weatherford did the testing at Sealion

http://www.weatherford.com/Products/Evaluation/TestingServices/

chav, thats a very risky route you have taken.

RKH still has plenty of upside from Sea Lion alone, it should be over 700p before too long.

The upside is that RKH has 7.5% of any Rachel success, will be moving to main listing and off of AIM and also there is lots more news to come as the flow test results are integrated into the model and therefore possibly a nice upgrade in the recoverable size.

So plenty of "insulated" upside still to go on RKH. Thats why I am 70/30 - never have sold a single RKH and no plans to for at least another 18 to 24 months.

DES is exciting, but very risky, worthy of new money being put in, but not, IMO, worth selling RKH to buy.

Good luck, hope it comes off for you.

Crazy Chav.....sp already has a strike priced in....sold RKH for DES.....bonkers....expect a sharp pullback on DES at some time....I'm thinking about shorting the stock....

Not yet, rf, imo. DES should be dragged further up by RKH momentum.

Agree with Pros (4557) -even FKL are being swept along on the crest of the wave.

I am surprised by Chav who normally gets it right. My current 60/20/20/0 of RKH/DES/FKL/FOGL covers Falkland Oil for me. I was overcommited in RKH but decided to take the punt - hence the relief at the news.

Broke a number one rule of posting - DPP (don't post pissed!)

I guess we shall see whether I've made the right move or not in circa 5 weeks, when Rachel result should be known.....RKH for Grannies and DES for Chav's!!

At this price I will not be in when the results filter through ....sp will have to come back to a reasonable level....

The first Oil Charter flight flew into the FI's yesterday, so that will improve logistic's hugely.

What's an 'Oil charter flight'?

New regular flight service to the FI's from/to the UK, chartered plane but a regular schedule.