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

Nuts to short more like!

i can't see that it's the brightest idea ...... shorting FOGL makes better sense

No......long time to go before results for the next well.....perhaps early november.....is this going to remain with a half a billion pound tag on it for that time ?......remember....so far : zero barrels of oil..... zero....!...like I said it's only a smallish punt.....

Maybe a rise in the RKH sp will help support the DES sp? What kind of stop have you put on Rf? Plus I think there will be a temporary rise when DES spuds.

RF if there is an RNS off RKH in the coming days, and the field is double what they first thought RKH shares will double where would you see Desires share price the same day?

This is what EK said today:
"I have shorted Desire Petroleum (DES) since it looks to me to be getting ahead of events. And do not forget that the Argentinians might surprise."

Frankly,...it could be the situation where on spudding the sp drops....not a rise....how on earth can the sp go up any more ?.....DES has a market cap of (I keep on saying this) of half a billion pounds on a non commercial gas discovery (on its own)....what is it going up to ? 700 million pounds ?....or more with nothing to show....GKP has a hefty market cap of 900 million but they have anything between 2 to 7 billion barrels of oil...this has just hope....the sp just has to come back down to 120p at least...perhaps around there it will stabilise.....

so have you married money to mouth or are you just talking about it?

Just a small short.....

with sp currently about 150 and depending how small the position, a fall of 30p is unlikely to pay for a decent night out for you!

Good takeaways in cardboard city.......

think it's going the other way...... sorry rf, don't reckon this is going down.,.

Patience......this no big deal....just a punt.....the well has not spudded yet and we have only just had the Rockhopper effect.....

Is anybody going to be in this later on...?....the risk is huge.....biggest risk of the Falklands campaign so far......

I would think they should spud some time next week......Wed or Thur, weather permitting and the forcast looks good for the next 5 days.

So results early november.....

RF i would like to think we should here news around about 19th October onwards but will get a better idea once we have a spud date.

One thing for sure i cant see the OG leaving the FI not now!

iii still down.

The OG should be anchoring over Rachel on the Weekend and spudding early next week.....Expro testing guys should get 4 weeks holiday before their next stint on the OG!

Too risky to be in....the sp will drop like a stone unless there is a commercial discovery.....

RF .... so is your short still running or have you been closed out?