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

And then what up it goes....as long as overall I make a profit...it can go to zero and back....when the rebound comes it will be fast....though 50p would not make me happy....I wonder if a strange thing like an oil discovery in the sidetrack might happen....funny faces in the city then....

Chances are remote

Yes....they are....I can't understand why they are doing it....1.2km....away from original target depth....on the fringes of something ?....DES did have a gas discovery of some kind with Liz....so they might just spud further to the north of that later....it's not going to be news if they come up with nothing....

Very risky.

If they're aiming towards sealion could mean they're near the tip of an oil deposit.....bit of a long shot.,.

on a much saner note

hali - if you didn't see it already, many thanks for kicking me so i sold most of my RKH yesterday and suffered relatively little pain .... i'll hold the remaining RKH but am happily well out of DES

Halved my holding yesterday and banked a very small profit! Tried to do it on Monday as I boarded for Senegal but lost the connection on the iPhone! Thereafter was unable / asleep / too busy to follow up until yesterday in UAE! Won a one-legged @rse-kicking contest to the shaving mirror at home this morning!

I'm happy to be out of RKH and hopefully back in DES at a bargain price !....

if des stays at current sp or drops further monday i am topping up - side track and 3 drills to go - upside potential huge - down side obvious - its out of profits for me so gonna take a risk - gla

Somebody agrees with me....cheers !.......before at 165p.... crazy...but now at 70p.....with more drilling to come...bargain....

i certainly do rf - just needs looking at logically - i bought at 108 so not as unlucky as some - but i really am not worried - and the good thing is we wont need to wait an age to find out - they have the rig now and near future to complete drills - a lot of preparation & research - due dilligence was carried out b4 hiring the rig etc there was always a chance this would happen - 165 was ott imo hence didnt touch it - i took a risk through greed at 108 and so far paying for it - but i am sure this will turn around - just need 1 hit - i like the odds and huge upside potential - if it goes t*ts up my loss but i doubt it will - i am hoping for 50p but even as is will buy - gl

DES - kerrrrrrrrrrrrrrrrrrrchinnnnnnnnnnnnnnnnnnggggg!!! lol

rf hope you bought early this morning!!

it's certainly been a good (dcb?) bounce this morning, but assuming it doesn't all run out of steam beforehand, i suspect 200 dma will prove a fairly stern hurdle

cynic - indeed - i have cashed in the profit of half what i bought this morning @ 94.75 - leaving the rest to run with my 108 buy - very confident here for future weeks & drills to come - gl

Done almost the same as you...

I seem to be completely out of synch with this for some reason....sold half on Friday and missed this mornings activity. Hurting a bit..

rf - good man

avsec - sorry to hear that - that sounds real unlucky

Check out AFC....(fuel cells)....just keeps going...massive, huge potential....

Decided to stay with my reduced holding now and hope that RKH will slowly recover from the effect of Rachel disappointment. Maybe the side drilling will find something but it remains a big gamble IMO...

posted to that effect on RKH just now