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Desire Petroleum are drilling in Falklands (DES)     

markymar - 03 Dec 2003 11:36

free hit countersDesire 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

HARRYCAT - 11 Oct 2010 08:39 - 4762 of 6492

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

cynic - 11 Oct 2010 08:42 - 4763 of 6492

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

Balerboy - 11 Oct 2010 09:01 - 4764 of 6492

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

cynic - 11 Oct 2010 09:03 - 4765 of 6492

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

markymar - 11 Oct 2010 09:08 - 4766 of 6492

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

Proselenes - 11 Oct 2010 09:10 - 4767 of 6492

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

Pretty much where we are.

required field - 11 Oct 2010 09:19 - 4768 of 6492

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

HARRYCAT - 11 Oct 2010 09:23 - 4769 of 6492

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

required field - 11 Oct 2010 09:32 - 4770 of 6492

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....

Balerboy - 11 Oct 2010 10:48 - 4771 of 6492

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 ;))

markymar - 11 Oct 2010 11:16 - 4772 of 6492

Falkland presentation

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

avsec - 11 Oct 2010 13:45 - 4773 of 6492

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

Proselenes - 11 Oct 2010 14:22 - 4774 of 6492

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.

cynic - 11 Oct 2010 14:49 - 4775 of 6492

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

Proselenes - 11 Oct 2010 14:59 - 4776 of 6492

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.................

cynic - 11 Oct 2010 15:06 - 4777 of 6492

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

markymar - 11 Oct 2010 16:00 - 4778 of 6492

Watching this like a hawk.......nearly 1 million more buys but it has a crazy Market Cap: 568.03m

RKH has found 242 mill barrels and Market Cap: 885.52m


My head is saying sell some Desire and the other half is saying hold for now.

chav - 11 Oct 2010 16:11 - 4779 of 6492

You know you really want to buy some more DES marky...makes sense!

markymar - 11 Oct 2010 16:16 - 4780 of 6492

Am twitchy Chav, did you read that clog i chucked at you this morning.

Level 2....des looks strong

chav - 11 Oct 2010 16:32 - 4781 of 6492

I did thanks...in a short time we will all know which way the cookie crumbles!
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