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

Another well researched post from captain Hlyeo...

So if it's a duster.....great opportunity to buy on the dip if we are watching at that time.

"If Rachel comes up dry then we only have 3 more drills left "

"So if it's a duster....."

Sorry to appear thick but are we talking here about the sideways drilling of Rachel or have I missed a major development...

Confused of the SW

if a duster I expect 30p possibly lower and do not hold out much hope but hoping for a major find in the next one but that is less than 50/50 chance

They are doing a sidetrack of the well...which means going off at an angle....very little hope of finding anything but 2 more high risk wells to come before anymore are decided.

The owners of the Ocean Guardian will be laughing all the way to the bank, while DES shareholders may be weeping in their beer!

I think that at some stage something good will happen....they could spud right on Rockhoppers doorstep,.....now that would not be far away from Sealion.

rf...and why do you think there is "very little hope of finding anything"??...do you know something that the professional Geo's at DES don't...perhaps you should give them a call!

as i said, the chances of DES finding anything commercial are perhaps 9/4 against, which is rather better than the norm of 5/1 .... nevertheless ......

Because there isn't.....chav,...not in this one but if they do...great !.

as i said before des is a flip of a coin - lets hope they have chosen heads and both sides of the coin are heads!! lol - gla

Thanks for taking time to answer the question RF.

RNS tom or tue....D day...back down the mine so not a happy chap with heavy clogs on.

set a limit buy for 28p, as a holder of RKH i hope the well finds something, however if its a duster and the market over reacts then in a position to take advantage. [more a speculative punt as the sensible option would be to top up on the initial drop on RKH. might do that but harder to predict where the lower RKH limit will be.]if it doesnt go that far down then so be it. GLA

Alex

It won't drop as far as that.....2 more wells coming up...back to back...with 3 targets in all...

possibly not but also bear in mind that the two most likely sweets spots will have been played and surely this will have some bearing on the SP. like i said a speculative punt. nothing lost if it doesn't drop that far and will be of some comfort for those DES holders.

I'm in on DES....but not many.....just have to wait and see now....

Ouch!

nothing out from reuters that i have seen, but clearly the market is very twitchy indeed

I'm with the market!