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

Oily Jim, Thanks for the Guardian news but can I ask, 20m is well short of the original projected sum required hence, how in your opinion will DES tackle the import of a rig & commence drilling as an on-going project? This assumes, of course, that the Guardian has it,s facts correct. Rgds. JNK.

jnk

we currently only have half of the jigsaw pieces (assuming the Guardian is correct) Dr Phipps holds the missing pieces close to his chest.
ie you are correct that none of the figures seem correct at this time.

The 20M is very close to the scenario 3 that I outlined in my posting no. 396 of 19 Dec. I assumed a lower placing price however.
The 50p seems high if Des has not convinced a major to participate.
Not so high if a major was willing but was too demanding. Hard to see why some accomodation couldn't have been made in that case - the money involved is chicken feed as far as oil exploration budgets are concerned.

Hi all

See we have been busy today with postings.. Well after saying we had a doji & being corrected by momentum. I apologise again. We have had support again at 0.59p. The bears pushed us down to 0.575 at the lower end of the candles & the bulls managed to push DES up to 0.6075p on the high. The close at 0.605. So at least were up. With Guardian reporting about the institutional fund raising it hasn't had much impact on the share price. I think it is because this is only part of the news. 20m is this for the butties ? What is clear, is this isn't the full story. DES is going to need more funds, which I'm sure they'll get.
The remaining peices of the jigsaw will come as ming says.

Hi momentum

Do you have the fibonacci retracement after 0.70p. I don't see anything upto 101p. Is this what your seeing ?


Kind Regards

Eddie

Hey marky

You never mentioned the crystal ball !


Regards

Eddie

Eddie, a move through 70p which i expect on news will imho be very strong could see a spike up to 100p or 150p, Historic data / charts dont really tell as anything, the last time we were at this level was 21 /11 /98. Once we have a new top, we can use some retracement tech to try and find potential support.

Thanks momentum.

Are you using sharescope ? Do you use candles ?


Kind Regards

Eddie

Interesting day for Desire and your right there is more to this Jigsaw and I an baffled my self I dont know if it is a carrot or a leak from the Desire camp to get a better deal but do feel news within 2 weeks the latest.

There is a bigger picture and some big deals going on am sure, try to find out how much oil is in C&D since 3D seismic been done I bet you get no where , I think CP maybe there is an ace up his sleeve!

I would hate to play a game of poker with Colin Phipps as I know he would win.

Happy Days

Markymar

Agree.V interesting day.Price recovered well.Shows good support.Somethings going on??

Eddie use "xpertrader "( excellent Kagi plots) and "Updata Technical analysis". Yes i do use "Candles" as well as "Point and Figure". And about 15 other indicators EMA, RSI, OBV, MACD, Fib arcs etc. Spend at least 2 hrs a day studying TA, have loads to learn.

Regards stephen

Thanks for that momentum.

Yes I have Renco, Kagi, Point & figure & others. I feel candles are best for me at the moment, although the Kagi looks fairly easy to undrestand. I feel charting is the way for me, you get loads of information from them.

Kind Regards

Eddie

Hi Eddie & Momentum.. I am clueless when it comes to charts & am keen to learn. Whats the best way to learn how to read charts? Can you recommend any reading material that I can be starting with?

Thanks

Chris

Hi Chris will respond later with some useful reads ok

Thanks Momentum.

start with Technical Analysis of stocktrends , Edwards and Magee

Appreciated Mdd

Chris

Does anyone follow MACD lines at all, or are there better indicators?

I just follow my nose and its done me ok Stu

I wouldn't mind following your nose then mate!!!

Any other interesting projects on the horizon?