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

rf.....If you look at the actual drilling times for the previous Wells, then you would realise that news on Rachel result could be any time from the 18th Oct.

Bb, if I was offered DES at either 1.50p or 1.60p at present, I wouldn't give a damn which I bought, but then I think it is VERY unlikely!!!!! ;o))
C'mon Rf, you know your broker is just sitting waiting for your call!!

RF's logic is not silly ...... sp is currently very close to its all-time high, but has yet to find a canful of oil ...... a duster this time will see sp down to 100 or lower .... though the chances of this are less likely (shorter/longer was confusing!) due to the proximity of sealion, one's holding should take note of the potential downside (pain threshhold)

I think that a small find is likely to push RKH up and send DES down.....pure gamble this.....

Rf, if you had bought last week you would be in profit now!

and if you'd bought RKH 2 weeks ago, you'ld be nursing a loss!

and those who shorted fogl...........

i don't think you're right on that score .... i THINK fogl has slowly weakened across that period

FOGL a sell, Bor A sell, nothing going to happen for a good while,The rig they thought they had went to another company.

FOGL = sell
BOR = sell
DES = hold / top slice
RKH = screaming buy.

Pretty much where we are.

Humpty dumpty sat on a wall.....humpty dumpty might have a great fall....

Yeah, but that's a fantasy nursery rhyme. This is reality! ;o)
I presume you are not yet a shareholder here then rf?

Not yet....the problem is that I'm in AFC....and staying there ....cannot bring myself to switching into this...regardless of the possibility of the sp flying above 200p....but still going long on RKH....

Feel this is going to creep up from now on, on expectation. reckon you missed the boat rf......makes a change from jumping ship to early....lol ;))

Falkland presentation

http://www.desireplc.co.uk/pdfs/Shareholders_presentation_FI_Oct_2010.ppt

Very useful Marky - thanks. Some good information even if a bit rose-tinted

The rise is DES has legs, you can easily sell 100K at mid price, so the background demand is there.

Has the drilling mud shown traces of oil ? Something might be up, or not.

more likely to have shown traces of lugworms ..... btw, drilling mud is not what you think! ..... drilling mud is actually a non-haz compound that primarily lubricates and cools the drill bit

Yes cynic and when it comes back up to the surface if the bit has been going through oil containing rock the drilling mud will pick up traces and it will be show back on the surface when it cycles back up.

It does not stay down there, its cycled around the drilling bit from surface to bit to surface.................

drilling mud is a liquid and has nothing to with the gunge and debris that adheres to the drill bit