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

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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sounds a load of crap to me ..... why would anyone buy DES which has found nothing as opposed to RKH which clearly has?

what's your take Marky?

.

You're starting to repeat yourself cynic! First signs of dementia!!! ;o)

it's a conspiracy actually

Ah, the infamy, infamy, they've all got it in for me, kind?

some clever rumour making to get out before the dry well is announced imo but hope not as still hold religiously. If a strike lets hope its big

some clever rumour making in order to get out before the dry well announcement imo. Hope not though as still hold religiously, - oh what a roller coaster!!

Sounds like utter rubbish that article, more likely phippy getting the price to go higher so all his mates can exit at a profit before it crashes.

You see what I mean you never know what round the corner.

quite so ..... if i'd been on the ball i might have done something (one way or the other!) with a guaranteed stop, but did not know at the time how to set that - i now do

This is looking more and more like a positive strike....plus 40p...and staying up....there must be something afoot here ?....

She's climbing...here we go again.....

i think the only thing afoot is more bear closing as we draw towards the close

i think the only thing afoot is more bear closing as we draw towards the close

you can say that again Cynic,