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

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....

CYNIC SP up 300% and they have nothing to say are you serious?

yes - and it wasn't 300% either; for about 2 minutes it doubled = 100% .... you must be an accountant

SP was never up 300% or i was watching wrong screen!!!!

Thats Desire very volatile . I am not holding at this present time

Good luck all

I'm not too optimistic about this now....glad I sold out last night....as I said before,....there should have been an rns by now....the longer this goes on....the sp will slip without news....graph will take a little turn downwards and then crash.....

Cynic I am a long term investor and look at 3/5 year timescale and looking at my start price 40/58p ish price = 300% in May/June.
Ok in the short term (1 Day) up 100% ,still think something should be said sooner rather than later.
I sold 75% yesterday my balance is running
Over

Amazingly steady at this price despite no official news for support of the rise.

as you have very sensibly banked a really good profit you have nothing to grizzle about

They must know by now...good or bad.....I fear that it's hydrocarbons of a sort yes...commercial...no....a discovery like sealion would be incredible not only for DES but RKH as well and probably impact ARG's sp as well....

not necessarily so at all, though the odds, as in all oil exploration, are always stacked against commercial discovery

You are playing a dangerous game shorting this.....because it could go either way within minutes....do you have a stoploss that will come into effect no matter what ?.

waste of time unless guaranteed, and that was not possible

If it drops back to 85p...take your profits...

probably ..... bit undecided what to do as am off to golf shortly

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Something is going on...sp all over the place...

News but no news...

This company is on a knife's edge...2 or 50p....

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

The well reached its measured total depth of 3,418 metres on 27 October and the process of pulling out of the drill hole is underway. Once this is complete, logging operations will commence and a further announcement will be made once the logging results are known.

The Company also notes recent press speculation and wishes to confirm that it has not received any approaches concerning a possible offer for the Company.