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

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http://www.thesun.co.uk/sol/homepage/news/money/3180808/CAMRA-fury-as-chance-to-save-pubs-lost.html

Thats the feeling I got yesterday and why I sold what I had left of DES , that the well has failed so far to find something big and they are now on to a sidetrack.

That will now be well 2 of 4 (the sidetrack will count as the 2nd of the back to back 4 drills IMO).

Will be Jacinta after this sidetrack and then perhaps they will pass the rig back to RKH to appraise Sea Lion and save their 4th rig slot until after that. We could therefore see Sea Lion appraisal starting in late Dec 2010/early Jan 2011 and not the presently expected Feb 2011.

I hope they find some oil but it just seems DES are DEStined to be the unlucky ones, just like Shell were before. There has been a hell of a lot of failed North Sea drills and there will be a lot of failed drills in this area as well before they all get a better handle on what, how and why it holds what it holds, and more importantly, where.

Drilling Update.

Desire Petroleum plc (AIM:DES), the oil and gas company wholly focussed on the North Falkland Basin, advises that the 14/15-1 well on the Rachel prospect has reached a total depth of 2,877 metres. Initial wireline logging shows that no hydrocarbons have been found. However a substantial thickness of sandstone was encountered in the upper part of the target zone, comprising 103m of gross sandstone of which 81m is net reservoir with an average porosity of 23%.

in a word - disastrous

In a word, I told you yesterday.

Perhaps people should pay some attention to BB's as opposed to calling it "rubbish and far too early".

Crumbs....rns...have not read yet.....

Both in extended auction - what a suprise!

Bad news....not good....cannot believe how quickly...that was done....looks like Prosels was right....

I told you guys Rachel was a dud. Will be in big auction now.

Got my fingers burnt here...will have to stay put until the next wells....

there is a HUGE buying booking as shorters scramble to take profits at around 75

As far as I am concerned DES will fail on every well now and so they are of no further interest UNLESS they strike oil which will change things, but as far as I am working on now they will strike nothing.

Sea Lion is the most southern and most westerly point at which the oil has migrated and thats it, its all up in the North East and in the RKH license area's, and RKH is the only one to hold now.

Blinkered it may be, but for now, its correct.

Yes, DES is a total failure.

i sold the last of my small rump a little bit early, but no big deal ..... interesting watching this one on L2, and that's all i'll be doing!

my holding in RKH is also quite small - big thank you to hali for kicking some sense into me! - and i guess i'll just hold those

FOGL short will def be left to run

Didnt expect .

This is totally expected.

Not the best RNS!!...have to see what comes with the side track and keep the fingers crossed.

Its a shock to me hlyeo.

I told u all yesterday. Sorry... hope u did not lose much.

DES is now a strong avoid.

Expect total failure, this sidetrack and Jacinta.

You can only then get surprised to the upside, and as COV and EO. and RKH and NPE have all shown, even if you miss the initial rise on good news, the following days and weeks see's even bigger gains.

Why hold and take risk, better to have cash ready to buy good news and have zero risk on bad news.

Liz and now Rachel see's mass selling, price drop, media unveil the story followed by DES RNS.

That should be enough of a warning sign to many.