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

Touchy...ehh....!...shame about RKH not having the rig for months on end....oh dear !...was 546p...now let's see....ah yes 330p....tut...tut...

Was 38p and now 330p and you sold at 90p and screamed it was overvalued...... LOL :) !!

Investing......... not trading.

I...............think...........all..............these..........dots........are.........getting.............ridiculous..........!!!! ;o)

.........I..........like...........them...........

I've bbbbeeen pppractising mmyy BBBrrrains iimmitation fffrom TTthundderbbirds....MMrrr TTracy !.

i'll say it for the umpteenth time ...... DES is an out and out gamble with odds of finding anything no better than 5/2 against

Too much ramping from Prosels....it's a good stock (RKH)...but not that good...DES is a pure gamble....I have a small foothold in both...

DES is wobbling... days are getting numbered.

It's hit or miss....2 more wells after this....one day they might just get lucky....

Heavy clogs today........better feed them pit ponys and the back down the mine.

http://www.oilbarrel.com/nc/news/display_news/article/falkland-oil-exploration-a-mixed-but-exciting-bag-for-rockhopper-desire-and-falkland-oil-gas/860.html

Oil Barrel

October 22, 2010

Falkland Oil Exploration A Mixed But Exciting Bag For Rockhopper, Desire and Falkland Oil & Gas





Desire grabbed international headlines in February when it reopened old Falkland war wounds by towing an oil platform into disputed waters on February 19. The Liz 14/19-A exploration well spudded 3 days later and eventually reached a total depth of 3,667 metres. The well encountered hydrocarbons in two separate intervals before being plugged and abandoned as the drill rig moved on. However, the well was significant in that it kicked off a multi-well, multi-company campaign to explore the North and East Falkland Basins.
Desire contracted the Ocean Guardian drill rig in February but spread the costs of towing the rig some 8,000 miles from the North Sea by subcontracting its use out to Rockhopper Exploration and BHP Billiton/Falkland Oil & Gas (FOGL). Upon Desire completing Liz 14/19-A, Rockhopper took over Ocean Guardians control and deployed it to drill the Sea Lion exploration well 14/10-2, also in the North Falkland Basin. The well spudded on April 16 and reached a depth of 2,744 metres. However, with insufficient time to analyse the results properly, control of Ocean Guardian moved on to BHP/FOGL. The Toroa-1 exploration well was drilled in the East Falkland basin in June, but disappointingly for BHP/FOGL, failed to encounter any hydrocarbons and was plugged and abandoned.

With the subsequent analysis of Liz 14/19-As results, Rockhopper announced the first Contingent Oil Resource in the Falklands after consultancy RPS Energy estimated a total mean Recoverable Contingent Resources of 291 mmbbls. However, before the company tested their successful well, Rockhopper spudded Ernest 26/6-1 on the 23rd of July in the North Falkland Basin and reached a total depth of 2,240 metres. The well was a dry hole and disappointing given their early success, but with Ernest located some 120 kilometres from Sea Lion and testing a completely different geological play, Rockhopper remained upbeat.

Taking Ocean Guardian back to the Sea Lion 14/10-2 well (renamed Sea Lion 1), testing began in September and initially flowed at over 2,000 bopd. However, with additional equipment and an improved well location, the company believes the well has the potential to flow at a rate of 4,000 bopd. Executive Chairman Pierre Jungels said at the time that the test has provided vital information which will allow us to move forward through appraisal...[and]... that the Sea Lion discovery will be commercially viable". On September 25 Sea Lion 1 was plugged and abandoned as Ocean Guardian reverted back to Desires control.

Having kicked off exploration drilling in the Falkland basin, control of Ocean Guardian reverted back to Desire who spudded its second exploration well - Rachel 14/15-1 - on the 27th of September. Initial wireline logging failed to initially show hydrocarbons in the 2,877 metre well, but the data gleaned from drilling has encouraged Desire to drill a sidetrack well downdip from the existing location and closer to the mature oil source rock. Drilling of sidetrack well Rachel 14/15-1Z will begin once logging of 14/15-1 is complete and should take 20 days to complete.

Desire plans to make good use of the Ocean Guardian while it is in the area and expects to follow up Rachel 14/15-1Z with 25/5-1 in the Dawn/Jacinta prospect ahead of the drilling of a further 2 wells. Rockhopper has followed Desires lead and since entered into discussions with Ocean Guardians owner Diamond Offshore Drilling (UK) Limited for a possible three firm wells and five optional extensions, as well as signing a contract with Polarcus Limited for the use of the MV Polarcus Asima seismic vessel. The MV Polarcus Asmia will run a 3D seismic survey beginning in January over Rockhoppers wholly owned PL032 (Sea Lion) and PL033 licences and adjacent areas.

The Falklands Basins are a vastly underexplored region, and with the addition of a historical political element, it is no wonder the British papers are closely following the story. Such wildcat drilling is risky and the absence of data means these companies are exploring new frontiers and thus drilling failure is inevitable.

Each of Rockhopper, Desire and FOGLs share prices are now inextricably linked, with the Falkland drilling results of each company heavily influencing the others. Rockhoppers Sea Lion 1 well remains the groups major success and it will now be up to Desire and FOGL to demonstrate they can replicate this success. An undoubted challenge for these fiscally constrained mid-cap explorers, but a compelling story for British newspapers.

http://www.telegraph.co.uk/news/newstopics/politics/defence/8079960/HMS-Astute-worlds-most-advanced-nuclear-submarine-runs-aground.html

HMS Astute: world's most advanced nuclear submarine runs aground

You have to laugh at the name of the Sub Astute must of been captain hlyeo98 in the driving seat to make that blunder.

cap'n pugwash will be courtmartialled and that will be the end of his career

sp looking very squiffy indeed ...... the brave may want to buy at say 76 on the basis that this is almost an artificial price and it'll bounce

I think there are a lot of nerves people out there holding this share at the moment Cynic I know am very twitchy today with heavy clogs on.

If Rachel comes up dry then we only have 3 more drills left .only time will tell , I know there has been many years of hard work put in by the DES team and I hope it comes in good for them and the Phipps family.

I remember from the last campaign how Colin Phipps lent money to the company to keep it going for 2 or 3 years

Faith is believing in things when common sense tells you not to

some bear closing now afoot .... tried to buy at 76.25 but have given up

2 ways to look at this...if they hit the jackpot (possible, but I doubt it)...the sp rises...right....if they don't with this well...what is the sp going to do because the next spud will be within 10 days of finishing here...how much of a drop ? and by how much ?...or is this duster already in the sp ?....

if a duster, then expect 60p or less

Duster = c50p, imo.

You have just put me off buying this then ....

DES is a lousy bet... Buy CHAR is much better.