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

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.

Yeah, totally agree with u, Pros.

worth shorting? .... just maybe, though it's strange (to me) that FOGL still remains relatively firm

The worse thing now is you will see all those who got a nod and a wink and have been bailing out since 150p and shorting DES will have been buying DES again today and will ramp the ass out of it and sell out again before the sidetrack is complete if its bad news again.

I must be nuts again...but picked up some more in the dip.....

Thank god I did not buy at 165p......with more prospects to be drilled....still plenty of chances to hit something commercial during this coming year....

lucky escape rf.

Mitzy.. is there anymore to come/happen in near future for MATD??

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On their third well Balerboy....better pop over to the MATD thread...

Hopefully DT1 well results in the next 1 or 2 weeks stating api and reservoir quantity until then its wait and see.

and spudding DT 3 any time now.