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

The trading action should hot up here over the coming week.

From late next week possible RNS and they wont make the same mistake as last time and let the papers leak it out.Lets hope they have learnt how RKH do things.....

let's hope it's oil leaking out and not methane

Nice to see that DES is remaining Blue, amongst lots of Red today.

but so is FOGL - for me at least!

what % have you got on your short?!

50% stake .,.... i wasn't THAT brave, even at 148

Certainly need more caution with shorts than longs imo.

creeping on up here:-)

Rf, you have missed the boat!!!! ;o)

unless it sinks with all hands on result ..... and if all is slick with oil, then plenty action of promised!

Still not in.....I can't believe the faith that you lot have in this coming up with a big discovery......if this was priced at 100 to 120p and that's high enough ...I might be tempted...but 160p....no way....plenty of other fish in the sea....I am in Rockhopper...going long....still can't get over your belief...perhaps you are right....I got it right on GKP, but that was at 14p...to 50p.....not at 160p....(just comparing the increase)...the percentage....if this does not come up with the goods....heavens....that's what is bothering me....the sp will only rocket with 50 million barrels plus.....anything less down to 20 million....stable....below 10 million ...back to 100p at least....now I may be wrong with the figures but that's the way I'm thinking....still undecided as to buy a few or not...but what's the point of just a few...?....

If they hit oil the sp will surge, imo. Then, when the reality of the size of the discovery sinks in, the sp will correct itself. So hype & expectation, followed by news & reality.

that is why i only have 50% stake

That's if they release a rns saying they have hit oil....but that is not enough....or will they wait until testing is done...in that case we are 3 weeks away...perhaps more....but you do have a point Harry....I have a little remaining capacity for a punt on DES....god....will I grumble if they come up dry ....

rf

I think you're missing the point, this whole exploration business is about proving the NFB. DES's first well set about that business with oil shows and gas, RKH made a significant find. Until more wells are drilled the size of the overall field remains unproven. If the current DES well is less than commercial but oil is found, it helps to prove the overall potential which is what will drive the SP.

It is already valued at 550 million quid...how much more can you add to that with not much to show ?....gas is no good unless you have 5 trillion cubic feet or more...I might have to free up some funds...but not at all happy with it....

Try & pick a 'down day' when the whole market is suffering. (i.e nearer 150 than 160).
But rf, you'll grumble anyway! Either you didn't buy enough or you shouldn't have bought at all!!!!! ;o) But you can't resist the buzz methinks???

Got to say...hate missing out....I've done well on DES so far...and very well on RKH....just not sure with this current well...it's not the same target.....as Sealion....might just pick up a few thousand.....I must be bonkers....

Had a re-read of the rns.....Rachel.....(might call her Raquel)...if successful.....was spudded on the 27th of september.....35 days drilling......there will not be any news until late october at least.....except for the usual "drilling is progressing" thing....