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

well chuffed with me rkh buy today lol!

Can't say I like the look of the chart at all (nor RKH) from which I deduce there is no way I would touch DES with a bargepole right now. My instinct tells me 40p is on the cards when this side track comes up dry, but I'm often wrong and insufficiently confident to short - just for fun.

PTH,
set a limit buy for 28p. how do you rate my chances from a charting perspective?

Alex

Could get close Alex, if it's a duster I can see a 50% fall, perhaps 60%.

But this is all guess work, it may well hit oil and I'm not going to post any more negative thoughts based on my thick head.

All the bulls can have a good giggle at my expense if DES actually find commercial quantities. I do believe it's there, but it's going to take a while to map the basin.

thanks PTH,

I too have no ill wind for DES. i hold RKH which will suffer slightly if a duster. i am convinced RKH will whether another DES duster but not sure how many will stay faithful to DES, ergo a rather cheeky limit buy to try and get the dead cat bounce and hold for the next two drillings.
Alex

FALKLANDS explorer DESIRE PETROLEUM took another pummelling yesterday - down 10.75p to 71 - and sources claim it is ready to abandon its "Rachel" well.

Desire said last week it would try again at the field but it is expected to pull out this weekend.



http://www.thesun.co.uk/sol/homepage/news/money/3196465/MARKS-SPENCER-chairman-Sir-Stuart-Rose-insists-Britain-will-soon-be-blooming.html#ixzz13RU0lNtI

i hope the sun is wrong this time?!!!!!!!!!! read right hand side of the page of link below!
http://www.thesun.co.uk/sol/homepage/news/money/3196465/MARKS-SPENCER-chairman-Sir-Stuart-Rose-insists-Britain-will-soon-be-blooming.html#ixzz13RU0lNtI

if there is a leak from the rig they ought to chuck that person/s over board!!!!!!!!! lol

no wonder the drop yesterday - lets hope this is just guess work this time - td can not have been reached yet

pro - lol you saw it too!!

i am still not selling no matter what!

News of duster is coming up very soon.

The Sun is never wrong. Well not on page 3 anyway! ;o)

In auction.

this doesn't look like a rigged market bear raid that sometimes happens for no good reason other than lucre ..... i very much fear holders are going to be thoroughly fried and there will also then be quite a severe knock-on at RKH and all the others

Told u yesterday.

market did indeed look very suspect yesterday, and as i posted several times previously, buying into DES looked a poor gamble

I have a few but not bothered what it does....will be patient....people seem to forget that the Falklands campaign has only just begun.....

DES UPpdate - not much? Guess it means no luck yet?


Desire Petroleum plc (AIM: DES), the oil and gas company wholly focused on the North Falkland Basin, wishes to give an update on the drilling progress to date on the Rachel 14/15-1Z sidetrack well.
1

The well is currently at 3,000 metres progressing towards the expected measured total depth of around 3,418 metres.

Still drilling...no surprise there then.

a non-committal update just issued .... sp perked up initially but has drifted back down

can't see the point of the announcement