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

Auction again.

This is crazy...could fall to 99p today.

very easily, or even lower .... when the market gets the jitters over a share, especially one of this nature, the bottom can be an awful long way down, even without news

i must be nuts - had a tickle at 108 - if dont bounce today will hold

I've been buying in.....fall overdone.....never thought that I would see this a week ago....rebound has to come but timing an entry very difficult...

Marky says : an update possibly tomorrow....even if Rachel is a failure,...there are plenty more prospects in the pipeline...a few days ago people would have done anything to get in at this price.

The graph looks like a "Batman" mask.....

This is looking like a buy and hold now....at these prices....glad I was not tempted in at 155-165p.

I cannot believe that people are selling now...nuts....

Sold the remaining DES I had, looks to me like they have drilled the main well and found bugger all, and now they are going to do the sidetrack in a last throw of the dice to find something with this well.

Anyway, who cares now, I have a nice little extra pot ready for a RKH top up :)

Where are you getting this from ?.....27th september spud and you know the result ?..on the 14th of october or 2 days before this....nonsense...only just 15 days...???..

The rns on spudding indicated 35 days....???...

Rachel will not be a good one, you'll see.

rf you pretty much mirror my thoughts and i refused to buy in at 155 - 165 - like you glad i did not - i have bought more likely to hold now - as you say its not just rachel - it does seem madness to sell - expect some are ats but rest!! maybe i am not that nuts to buy at 108!!? :-))

It seems we have the oracles on here.....enlighten me as to where your information comes from....nobody knows yet ...not even the riggers....too early...I'm just saying that on a bad result hold till the next spud because they have the rig...165p was ridiculous but around the 100p's ...much better value...

I see the prophets of doom are hard at work! No one knows, so I reckon you should stick to your own strategy risk/reward limits. Don't be spooked by ramblings on any BB.

It's a buy and hold now....

hc / rf - agreed

my worthless opinion is that it is safer to buy RKH than DES ..... if Rachel is a dud, then DES will collapse ..... if Rachel is a success, though DES will bolt for glory, RKH will swiftly canter up on the rails as they hold 7.5% of Rachel and more importantly it will enhance the prospective provability (hope that's sense even if not english!) of Sealion

I wanted to get in but not at 165p or even 155p....Desire does have the rig for at least until February....perhaps at least...RKH can only pump up what it has....frankly.....I think that there is better value in one or two other oilies in the world XEL and FPM spring to mind...these FI stocks are more "buy and hold" ones now, and wait for the next spud if unsuccessful in this one...