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

got my limit order in for 75p in case Rachel tanks. if it succeeds then my RKH will jump so win win me thinks[so longs as DES finds something at some time in the future obviously].
if it doesn't drop that far then so be it, am top heavy in RKH anyways.

GLA

Alex

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Sorry Harry no!!!

I have a 6 figure number in Desire shares and decided to de risk when they were drilling Liz and sold a few and bought RKH

DES is my largest holding I have been buying shares from a low of 7.8p to a high of 1.47p over the last 12 years waiting for this time.

I think Desire is over priced at the moment and have thought about off loading some and I may do that tomorrow but tomorrow is another day but I will tell you if I do, I think I have been quiet open with my strategy and said when I have bought and sold.


I have waited for 12 years to get to this pointits the dream and I cant sell the dream..its all or nothing.even though I think DES is over priced.keep knocking on that thick head of mine Cynic and for once I agree with RF.

But IF Rachel comes in its the dot com bubble againhence DES overpriced at moment.

Over 800 hits on this thread today and only a hand full posts...a lot of silent posters.... would be good to hear from you and thoughts.

Must admit I top sliced more DES today, still have a holding but the risk is too high as a 2nd failure for DES would be devastating.

A 150m barrel find is already in the price (based on the market cap of RKH for 242m and what the DES market cap is now with nothing), and so I am worried even good news might be bad news.......

eg a 100m barrel find is excellent news, but DES has 150m in the price already so it would still be overpriced.

I hope they hit a 200m barrel find..........but any oil will do as it will give a boost to my RKH shares that oil is that far south :) !

If Rachel proves to be Oil charged then DES is worth a lot more than just Rachel as it will derisk a lot more targets and give punters a lot more confidence for future drills...3 of which are already funded....Rachel comes in dry then it works the other way, of course, however I don't think it's overpriced currrently.

Chav Its valued 200 mill less than RKH with out a 242 mill find of oil under its belt,DES havent found any thing yet!

Level 2 i see there are new mm..RENA,ARBT,FOXY, i make it 10 now

I was hoping for a pullback to 120p.....just not going to happen, but I shall have to miss out on this because 173p is just ridiculous at this present moment.....

Marky, I thought from all of your previous posts, that RKH was your well researched Eldorado with a long term 'hold' strategy and that DES was just a punt. Now you are saying that RKH has run it's course & DES is the new rainbow you are chasing??? I agree with most posters here that DES is overpriced & that a duster is going to trim the sp by 60-70%. That's very high risk with hard earned profit from your RKH holding.

Is RKH valued correctly marky?

come off it rf, with 8-10 days to go .....a pull back???? you dithered and now you got to sit back and watch. Notice how some are changing their tune to what you've said all along.....even the ramper pp.,.

I don't mean a pullback now....I was hoping for a drop a few weeks ago....I'm also very much invested in a few others and it's the enormous risk of getting my fingers burnt now that's putting me off...hands up : I've badly mistimed any possible re-entry here....

I am sitting here still wondering what to do. From what I know everything in the DES camp is going well but as pro said there is a 100 mill find priced in to the share price and I know this is a dot com stock, if they hit oil it will go ballistic and be over priced even more.

RKH I think is a solid buy with a 242 mill find and potential upgrades on the way which I believe will be 500 mill plus.still holding a 5 figure number.

RKH is good value

my position here is now that i can sleep easy in the event of another duster, but have a nice base if bacon comes home

I'm slightly confused by the placing. Surely they haven't placed at 140p? if there is a chance that the sp will bomb to 80p or so. Unless there is another explanation, does this suggest that DES know something or, as I've seen happen before the sp rises dramatically before news so that the drop is only down to the placing price.

Look at the volumes.

Would suggest those who took the placing shares have been selling like mad of late....... and are still selling now locking in a 10% to 15% profit.

140p will represent no barrier to a down move should this be a bad well.

probably not .... i'ld hazard a guess that those who were treated to the placing have some kind of lock-in too

Have been selling all morning...time to take a profit and i might buy in at a later date,i still hold a 5 figure number in DES.Been a difficult decision today but happy to lock a profit in.

no marky, it was (should have been!) an easy decision where your brain overruled your stomach!

So now we know. It was Marky that caused the DES share price to fall as he offloaded a chunk of his shares. (;-))

Got some more DES this morning ...nice drop:-)