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

late this morning cynic......sleep on your shirt tail..

had more important things to do, like real biz ...... meanwhile am contemplating what to do here and with RKH, shorting being not remotely in the equation

bet the mrs enjoyed that.....

152p to buy atm. Assuming Marky is right that RKH will go up even further on imminent AGM & RNS, there must be a little more upside in DES. Worth trading, imo, though risky hold at this price.

Got to be worth shorting soon......

Dropping like a stone....damn...should have listened to myself....

Yes, but with trailing stop. Impossible to predict where the bounce will be.

well don't just talk about shorting ..... if you feel that way, then act .... personally, i think it's poor risk

I would think it will settle back to 100-120 before the 1st drilling result then either 50-70 on a dry well, 200-300 on a strike - money to be made on trading over nextfew wks but very high risk, and not for me I am long term holder with view to 500-10000 in next yr-18mths

on consideration, have slashed my o'weight holding here back to "norm" ...... decent enough profit, and shall hold balance, at least for now

This will have to come right back down to a reasonable level ...(not sure what that is !...)....to make me want to invest....

Seymour Pierce Broker note:
"Rockhoppers (NR) Sea Lion-1 well has successfully tested at equipment-constrained rates of over 2,000 b/d. The oil is good quality, medium gravity and showed no water. As mentioned before, the Sea Lion discovery validated the geological model of the basin and de-risked Desires adjacent prospects. In fact, it actually added another prospect Elaine to the Desire portfolio. The successful test of Sea Lion indicates a potentially commercial project which would help the viability of other discoveries in the area. As Desire highlighted last week in its interim results statement, oil fields seldom exist in isolation. The rig will drill Desires Rachel prospect, spudding later this month. BUY"

DES really has no reason to reach 150p ... not a drop of oil found.

Sice when is the market logical

Over-buy and over-sell is the name of the game. Pay your maney and take your chance

Monet or Manet...?...2 fine artists.....

Hmmm... I find the water lilies a bit dull. Very well painted but not a lot to keep me interested.

Buy for the potential and sell when realised!

does that mean when it hits 50p?

Taken out my first ever short.....and guess what ?.....EK has done the same....!...

EK did that some time back and has assuredly caught a cold