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

True.....I'm dying to get a successful short on here....

I don't have sympathy for shorters, shouldn't be allowed to sell stock you don't own, i can't sell my neighbours house! DES is likely to perform much better than RKH, with loads of newsflow over coming mths and huge potential finds 10ps is not out of the question

you might not like or even approve of shorting, but if you want to take the moral high ground, you shouldn't trade in shares at all, as it is merely a form of gambling

Naked shorting, I'm with robstuff. Shorting with loan stock, well that's life.

Rf, as I have suggested before, instead of being all in, or all out, why not hold some & trade some, then, as in DES, if the sp keeps going up, you still have a foothold in the company?

I do that sometimes......with many a company.....but this time....I sold GKP....(at a good price)...and before the rise :.added to RKH .....plus switched all DES into RKH.....and now sold the lot....and now watching ...waiting....just not keen on DES.....should be below 100p....

cynic I don't really agree with you that holding shares is gambling. Trading regularly is more like gambling betting on the ups and downs but i have held these for well over 10yrs and have bought as low as 5p - that's investment not gambling. I also have been holder of NPE which should now go above 500 soon again from 50p the difference being high levelof research and track record of management with a little gut feeling throw in - guess it is somewhat of a gamble, check NPE out as it still has far to go

sold out my free ride today @ 162.625 ......was nice while it lasted and im not greedy ...but by inclination a % player and having bought original holding at 44p and 54p i thought it only prudent to crystalize profit considering DES which after all has nowt of its own ;and in my opinion is only hanging on the coattails of RKH .....but all the same good luck et al ...like rf shall be watching and waiting .........................0/t -Fail to understand all the fuss reg shorting - merely another tool in the trading toolbox providing liquidity and preventing mms from usual shinnagins

Somebody agrees with me.....cheers....

I think that people look at the sp and think...well if RKH's sp is 500p...DES's should go up by the same amount.....without taking into consideration the market cap....

TFC (and RF) - i took profits in some, but see/saw no reason to chuck all o'board ..... similar logic to my holding in RKH

ROB - it's a moot point but HMRC agrees with you; that's why there is no CGT on s/b

rf it's all about the potential size of the oil fields, if DES becomes another Tullow or Cairn the price will be approx 50ps or 18 respectively

Weather conditions staying good for the OG so hopefully get spudded by Monday...ish.

all pure hypothesis Rob, with very little of substance on which to base any estimate

Chav...sorry but you are dreaming....possible, but the risk that the next spud ends up a duster or uncommercial are huge.....minimum of 20 million barrels to be viable...

RF....where did you pluck the 20mbbls from RF????????????????????.....last offical info on that subject that I read suggested 60mbbls @ $50/bbl!!!!

Not sure what you think I'm dreaming about but RKH have made me a small fortune for a dream and DES are increasing the small fortune....hope I don't wake up!

Is next one to spud Rachel?

EDIT: Have checked & answer is yes, so am I correct in saying that if it is a duster then that would put a pretty firm line on the southern extent of the sea Lion formation, which would be minimal damage for RKH but severe blow for DES?

Chav....it depends on the cost for bringing into production on its own basis or with another nearby discovery.....your figures are probably more exact.....which means that they have to discover a lot....this could be a situation where most of the black stuff is with RKH and not much with DES....who is to say that the next well will be a success.....this will be an enormous gamble from the shareholders...buying in at any price above a pound...the stock is worth 500 million punds as it is.....a strike ..a big one is already in the sp.

totally concur ....a strike is patently factored into s/p here reg. Rachel . Frothy is the word..........3 dusters on the row would .l humbly suggest, see an immediate massive retracement significantly less than 100p.....mais qui sait ?........But current trading does appear a little soft ...../....dont know whats wrong with me today in so far that i have agreed with RF twice in a day...;-0 but current m/c of 500 million can only be justified by a sizeable strike

To be in or not to be in....? and at what price.....no way at the current sp....

sorry chaps to be 0/t but COV working up a head of steam - Looks interesting ...,,,,,,relative to the FI oilees of late its snailish by comparison but always good to have a little diversification