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

All I get is a red X marky! Presumably that marks the spot of the next gusher??? ;o)

I hope so Harry.....it wont let me edit it for some reason....time to take the dog for a walk in the rain before the computer gets an axe through it. Grrrrrrrr

Just about to do the same Marky but the sun is breaking through here in the SW. DES relatively steady as RKH slips.

Time DES had a RNS out.

Agood post from Synchrouk on iii


Source rock = same as Sealion. The oil has been expelled from above, below and to the side of Rachel. The oil has not had to migrate far. The oil was generated all around the Rachel sand body. The maturity of the source rock has been proved in the Sealion well. No immature oil was found at Sealion, which was a very high pre-drill risk. Mature oil at reservoir depth, means this risk has been removed.

Reservoir = same as Sealion. The sand has been generated in a river, to the east. The sand has been deposited into a Cretaceous lake, on the eastern side of the lake itself. The eastern side of the lake had the deepper water and the water became deeper, quicker, compared to the western side. The organice rich claystones surrounded the Rachel fan. A risk with the reservoir is that the sand grain size distribution is different to Sealion and that this will have a detrimental effect, in so far as the porosity will be different. All the fans drilled in the Sealion well, showed good porosity, so I am confident that this will be the case in Rachel, for the reasons mentioned above, same sand source, same depositional slope gradient.


Seal = same as Sealion. The organic rich Barremian clays were deposited above and below and to the side of the sand body. This meant that the locally prodcued oil could get into the sands, but not escape.

Post Depositional effects = same as Sealion? I have no reason to assume that anything could have happened at Rachel, that would not have happened at Sealion. However, this cannot be ruled out. The main risk to the North Falklands Basin is tuff. A volcanically produced, ash deposit, which can reduce permeability, through chemical alteration, over time. It reduces the ability for a fluid to travel through a rock and may have been present at the Liz location, we will see. Not a great risk, as Sealion did not have this and Sealion is of the same same latitude.


As mentioned previously, I give Rachel a 85% chance of Success.

I'll add some expected STOIIP at some point. These are the current ones from the OUTDATED CPR. I expect the true updated, Rachel predrill figures to be much higher now.

STOIIP
P90 MMbo 163
P50 MMbo 839
P10 MMbo 1892
Mean MMbo 962


Compare these with the pre drill Sealion figures.

STOIIP
P90 MMbo 234
P50 MMbo 568
P10 MMbo 1348
Mean MMbo 710

I'll go into more detail of the geology at a later date also.

I think that Rockhopper would benefit probably almost as much as Desire Petroleum if they struck a commercial amount of hydrocarbons...but in the event of a no show...DES's sp would be slaughtered ....but RKH's would probably hold up quite well......

KeywordCompanyEPIC/TIDMSEDOL/ISIN Print Monday 27 September, 2010Desire Petroleum PLC
Rachel 14/15-1 Exploration We
RNS Number : 3822T
Desire Petroleum PLC
27 September 2010



For immediate release
27 September 2010






Desire Petroleum plc



("Desire" or "the Company")



Rachel 14/15-1 Exploration Well Spud



Desire Petroleum plc (AIM:DES), the oil and gas exploration company wholly focused on the North Falkland Basin, is pleased to announce that the Rachel 14/15-1 exploration well was spudded at 15:45 (BST) on 27 September 2010.



The Rachel prospect is located in Tranche D and has an estimated target depth of 2,850 metres. Drilling operations are expected to take approximately 35 days and a further announcement will be made once drilling is completed.

It's been spudded....good luck all...

Three weeks of relaxation before possible news of Rachel's ability to produce the goods.

Should be some cash jumping across from FOGL/BOR, into DES this fine morning imo.

Relaxation !...???....be very nervous about finding anything above 50 million barrels...

lol

required field a lot more that 50 mill i think Rachel is a 50-50 chance of hitting.

Marky, your post #4685 says 85% chance of success. I took that as gospel! ;o)

My daft short is turning into a daft closure of a short....

it can't have made much of a turn methinks

Harry thats not my post.....that was copied from iii from Synchrouk....but i respect what he has to say.

Got a few more whilst the price is right.

Chav whats with FOGL news? no rig

Appears that way Marky...guess they backed out as the price wasn't right!....I haven't heard anything locally about the Transocean rep being in Town, so guess that was incorrect.

Interesting conversation the other night with a DES guy down for the Rachel drill and his opinion on Sealion results so far.