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

I've been sitting on big losses here and this has very fortunately given me the chance to get back to even. Sold at 126p and consider myself very lucky!

It's off again 105p....

Got to be some sort of leak....this is doing very well...

Or could be just the day traders playing the bounce on the chart.

Exactly.

RKH is still dropping which tells you a lot

sp fluctuation should require DES to issue RNS shortly.

that's interesting ..... have been playing around with IG's L2 and can put in a GUARANTEED stop (even on DES), though of course the deposit required is significantly higher and the strike price can only be at the prevailing market price

don't think so hali, other than perhaps the usual anodyne "no known reason"

There is an rns coming....good or bad...?

cynic LSE requires companies to keep an orderly market in their shares if DES says "no reason" and say tomorrow they announce major news there may well have to be an investigation.

gl to all left in - it was too good an opportunity for me to sell up at large profit today - still in rkh - if they strike hcs gl to rf & co - too much to lose at todays sp so out

will be back if this dips at all but after rns for rach to see where we actually are for real - i agree with cynic ref bears - bit of hype from the invitation to tender etc - not much else imo - but wow! what a great day!!! still cant believe it!

Very well done gibby!

Come on Gibby...a little buy at 106p....come on be tempted.....teeny ...weeny buy......come on now.....(sound like calling a puddycat)....

If DES have hit its great news and I am really happy for any long term DES holders if it turns out to be good news !!

Pulling it out of the bag in the last 400M would be a wonderful result.

I hope many people who were short DES/RKH get very burned and lost loads of money today !!!!! They deserve it fully if they did !!

pretty new at the minute, is it still worth a buy?

No, imo.

DD5 wait for news thursday or Friday ,as if duster there will be one hell of fall on way.

only way to play this if one must is with a guaranteed stop

only way to play this if one must is with a guaranteed stop

http://www.upstreamonline.com/live/article233730.ece

Desire soars on take-over talk
Shares in Desire Petroleum more than doubled today following internet bulletin board speculation of a bid approach for the Falkland Islands-focused explorer and an oil find, traders said.

News wires 27 October 2010 10:37 GMT


An approach at two pounds per share was being talked about, one unnamed trader told Reuters.

Desire, whose shares later pared earlier gains to trade up 50% at 99 pence at 1012 GMT, could not be reached for comment.

Desire said earlier in October it would drill a sidetrack well on its Rachel prospect in the North Falklands basin after the original well failed to find oil.

It said on 15 October the sidetrack would take 20 days to drill.

"I would expect a statement from the company very soon because the share price has just rocketed and that indicates that there is some leakage somewhere as far as the news goes, and given the direction it's gone, it would indicate it's positive," said Westhouse Securities analyst David Hart.


Published: 27 October 2010 10:37 GMT | Last updated: 27 October 2010 10:39 GMT

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