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

but not the mug punters of course! ..... that said, i do accept that to offer to the mug punters is a much slower process and also much more costly

it looks like just a 5% dilution which is not exactly drastic, and the placing price isn't giveaway either

Just wish I had delayed my purchase for 30 minutes though!
It would have been cheaper.

Always seems a bit unreasonable to inform the market after the event, but I suppose there would be huge volatility if we knew in advance.

certainly an opportunistic move ahead of rachel drill and RKH placing.

Level 2 is showing huge buys for DES

10% Filter on 857,000 v 300,000

Back in profit (just) on my purchase now. Wonder what the weekend press will make of it all.
TT

Huge gamble and very clever of Desire to get the finance now...I bet that they are relieved....I would like to get in, but at this price ?....the question is ; to be in or not ? when in a month's time the results filter through and not with just the usual hydrocarbon sightings on the way down !....at the moment with the sp as high as it is I won't be.....just not prepared to lose the nice profit already made on this company...huge risk coming up, and I will say bravo to those in with a big discovery under their belts...(that is more than 50 million barrels) that is !...

can't follow your logic rf, you short des when it's a hold and now avoiding when they're due to spud. It's whether to stay in all the way to TD deapth is the question surely??

And what happens if they come up dry ?....or a small uncommercial discovery ?....they run a flow test and announce that the well is uncommercial and from 160p, the sp will drop probably to 50 or 60p,.....I've already made some nice profits on this...no way am I going to risk that as a pure gamble.
On top of that, the stock is worth as it stands 550 million pounds...crazy !...that price includes a discovery the size of sealion.....what is this mania about the FI stocks...if you go around the world there are many companies with better chances and better value !.

Rf some times you have to think out side the box on the grander scale of things, not sit there with blinkers on or look at the day to day price.

In 1969 the first oil was found in the North Sea by a company called Phillips Petroleum discovered oil in Chalk of Danian age at Ekofisk, in Norwegian waters in the central North Sea.

41 years on they are still finding new oil fields, Peaking in 1999, production of North Sea oil was nearly 950 000 m (6 million barrels) per day.

What RKH have done is found a new North Sea which is in its infantcy, the potentional of all the other NFB operators is huge in fact its staggering as the Basin is now proven to hold commercial oil and gas in huge quanitys.

DES and ARGOS are are over priced at the moment but the upside could be staggering if they find oil and Rachel is only 15km from Sea Lion.

Sea Lion is a massive prospect and am sure we will get an upgrade of 500 mm bbl plus.

The Majours are fully aware of what RKH have hit and and am sure at some point they will play their hand and want a slice of the action or take over RKH for a large amount of money.

RKH and DES have some fantastic prospect some will yield oil and gas over the coming years some will not but the prospects they have identified so far goes in to many billions barrels of oil.

Show me a company that has more upside or acerage than these two have, we have found a new oil provence or new North Sea and they will be pumping oil and gas out the ground in 41 years time.

I dont think any of the operators will be there in 41 years time as they will all be bought out for huge amounts of money.

Am 44 years of age now and I could retire now but I belive this is far to early to pull out so I will hang on for a few more years as the upside and the transformation of all these compnys will change and so will my fortune for the better.

Thanks for that marky....your posts are superb...cheers...the only thing is that : this is not the north sea and that the only comparison that can be made is that : yes it is at the start but this is in the south atlantic.....and yes it is in british waters.....to me the next well is a gamble...and I'm not sure if I will be in...not at the current sp for Desire...
There could be a lot of oil and gas out there, but it's as if it is already partly priced in...that's the biggest problem ;
If the stock goes to 10 in a couple of years you could look back and say...it was cheap then.... but nothing is sure....

rf...."that price includes a discovery the size of sealion.."

What is the Mcap of RKH with Sealion oil discovery?

What is the present Mcap of DES, pre Rachel Oil discovery?

Chav we know the market cap and DES .... market cap of 514.mill..........and no oil ......As a desire man i will stand my ground......but we are painting rainbows which arent there yet.....time will tell.

PS Chav no more navy rations for you

Plenty of upside, should Rachel come good though Marky, at the present sp....if they had Oil already then we would be paying 3.50 odd for them.

Fantastic weather in the FI's still at the moment so the OG should be over Rachel now and gripped for entry.

Chav............... wooley hat sorted........take care

Chav

"OG should be over Rachel now and gripped for entry"

let's keep the smutty comments off this thread...

So,...anybody shorting for the possible bubble burst ?....

Surely that possibility is over a month away?

What over a month away Harry?

DES duster = burst bubble. (RKH value still intact).
(None of the pictures at the top are loading marky).