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

with DES they are patently NOT ..... it's even very questionable whether or not the odds are as short as evens

"if i play roulette its either black or white or odd or even but only bet when odds in my favour." I don't mean to disillusion you marky, but the odds are NEVER in your favour if you play roulette. The best you can get is 50/50 (red or black); the house always has the odds in it's favour on any other bet.

Harry if odd number comes up 5 times you the put 2 on even and you carry on doubling up until it comes up even. 4, 8 16 ect

Sorry to be pedantic but actually you don't get 50/50 because of the 0 number.

Hence the odds are always stacked in favour of the house.

dd, yes you are correct.
Marky, the odds are still not in your favour.

It will go even at some point Harry, as long as you have a enough cash to keep doubling up.

the classic gambler's error on how to blow all your money

It's the way I used to do it but the minimum bet is 5 and without doing the maths here, by doubling-up each time it goes against you, within about 6 rolls you are putting something like 300 on the table just to break-even or win a fiver.

Makes life fun ....

Have a friend who went to Ireland on a stag do, he was walking down a path when a whole window frame was that rotten, fell out 2 storeys up and hit him on the head he was in hospital for a week.

If the window frame had not landed in the middle part,,,the weakest part and hit he would not be here today.

Moral of the storyyou just never know whats round the corner and the odds of that happing to him again have got to be Zero.

chances of you hitting the jackpot again in your life are not quite as remote, but damn long nevertheless ..... moral - bank a large slab of your profits before they blow away

The only way of making those odds zero, marky, are to never walk under a window. ;o)

Marky - you have been one of the stalwarts here and I can understand your passion for 'making the dream come true'. However there is a time to let the head rule the heart.
I too have been a very long time holder of FI shares since inheriting Coalite (now FCL) shares over 20 years ago; the oil side has come in later. I still hold FCL.
As for DES I bought steadily during the past couple of years and I have only just sold half my holding to a level I can accept (albeit that it will hurt). I remain firmly commited to RKH.
Good luck with whatever way you go - unless it is back down the mine in earnest!

Avsec a tip my hat to you Sir.

http://www.diamondoffshore.com/ourFleet/rigStatus.php

October update

Ocean Guardian 1,500' Falkland Is.
Current Contract AGR/Desire/ Rockhopper Eight firm wells plus two remaining optional wells mid 240's mid Feb. 2010 late Jan. 2011

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make of this what you will...
http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3ADES.L&thread=7102022&it=le

I think the realisation of the fact "not finding" oil on this sidetrack will be pretty serious bad news for the DES license area is playing on a few people who are reducing their risk levels which is keeping the price under wraps.

Failure here would leave the very high risk Jacinta next and then a likely pause (swap some rig slots with RKH who can appraise Sea Lion) while they study whats gone wrong and where to put the drill next.

Pro....DES are drilling Dawn next.

Jacinta should be next (Dawn is in the middle of Jacinta).

Dawn will drilled + Jacinta.

And then Elaine...you RKH rampers are really something......you have got to laugh at times ....DES is risky...hit or miss in the south atlantic...

Proselenes ..you have blundered on not taking profits on RKH.....slow the ramping a bit ...it's boring everybody....