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

market is "closed" which is peculiar, though there still seems to some trading taking place ........ perhaps it's just IG who are refusing to trade ..... anyway, still no news apparent

Switched all DES into RKH.....at the last moment....might be wrong thing to do but safer....got not bad price either....

I don't believe that a takeover is here...nothing to show yet....but a strike is always possible but so far no indications by the company of a sniff of hydrocarbons....if nothing is found then perhaps below 50p is on the cards...but for RKH a drop, but nothing on that scale and a rebound with investors like myself will make the stock rebound.

Interesting day, that's for sure!

rf - i thought about the 106 buy lol - i am going to sit tight - mean time taken a punt on afc - got some on the dip today - not bottom but good enough for me - hope it dont keep reversing!! lol
but des has always been one i liked so will be tracking closely - i hope everyone left in that it finds the black stuff and you all get a great pay day - interesting tomorrow - might be back in - all depends - if positive rns tomorrow i will miss what will be a mega pay day - hey ho! gla

chav thanks mate - very good day today and quite unexpected with no rns - t/o rumours - hmmm

TWO DAYS

From EK today:
"I must say that Desire (DES) is the most leaky ship I have ever encountered. The price tells all (well, almost all) yet the RNS might take 48 hours after a sharp movement. It is true that drafting an RNS takes a few minutes and that no sensible management wishes to clog the RNS release spot (look at what has happened at PureCircle and Xchanging) and that it is therefore wise to announce as much as possible at one time. But one would have thought a holding RNS could usefully be deployed. Both down as well as up."

In auction -19.1%

here we go back down again, umour with no substance expect 30p

Maybe I'm still asleep but is the offer less than the bid by c12%????

i confess to opening a modest short here yesterday at 112 .... as mentioned earlier, more from bravado than logic!

I hope you have closed it looking at the graph.....so many things going on across the stocks...I'm having a job keeping up and miss things....

no - i've left it alone ..... with no RNS of any kind, i see no logic for the rise other than these things are often self-fulfilling ...... sp could or even might well collapse again just as quickly

Went down to 85p....missed the quick buck there...I think that the rns will say that they have encountered hydrocarbons but is uncommercial but they will return next year to drill in the vicinity....

With no RNS this is pure gambling,cannot believe they can ignore us it is our money they are playing with.
Totally wrong.

who is playing with your money? ..... not the management of DES that's for sure .... unless i am much mistaken, they said they would make an announcement once they had reached the target ..... if the market lemmings want to pile in/out/in/out then that is up to them and sp will react accordingly

So what you are saying is, that the sp was up over 300% yesterday and they cannot put pen to paper,this would take at least 10 minutes.

they did but naturally and sensibly said nothing as there was nothing to say

I fear that the longer this goes on with no announcement...the less chances of anything being found increases...must be at total target depth now....