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

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which way do we go - caza had similar as did others due to high pressure gas / oil apparently - is it due to high pressure oil or soft structure / both?? lol

interesting day ahead!

Drilling Update



Desire Petroleum plc (DES:AIM), the oil and gas company wholly focussed on the North Falkland Basin, wishes to provide an operational update on the 14/15-1Z sidetrack well on the Rachel prospect.



Due to wellbore stability issues through the deviated section of the wellbore (forty degree hole inclination) it was not possible to reach the target depths in the first wireline logging run. The hole is now being cleaned out prior to making a further attempt.



A further update will be provided in due course.

I suppose now that the news good or bad will come in the middle of the day midweek sometime.......great...just great....will not be able to follow probably....

apparently 'this is neither good nor bad news. It can be difficult to get a Logging tool to slide down an angled hole, due to the friction of steel tool on the bottom side of the hole. The weight of the tool also has to pull down the cable connecting to the rig. This is all very easy with a vertical hole, but can proove problematic on a diagonal hole, particularly where they are dropping through different types of formation.


#1. They will try their damdest to get the tool to the bottom of the hole, otherwise the last few weeks will have bee a wate of money, if they are not able to carry out a logging run.

#2. Apparrenly the hold up is more LIKELY to be for positive reasons than negative, i.e. porous sandstone, which has the potential to hold oil, rather than rock or sandstone which will have absorbed the drilling mud and provide a slick surface for the logging tool to slide down on.'

from scarey pete

Did they use an elastic tape measure?

"scarey pete" is clearly running scared ..... for myself, i am, more than happy to let my short position run and may even add to it

Falkland Islands oil explorer Desire Petroleum has failed to reach target depths in the first wireline logging run at its 14/15-1Z sidetrack well on the Rachel prospect.

Due to wellbore stability issues through the deviated section of the wellbore (forty degree hole inclination) it was not possible to reach the target depths in the first wireline logging run, it said in a short statement Monday.

The hole is now being cleaned out prior to making a further attempt.

Last week, analysts at Westhouse Securities predicted further bad news. With an unsuccessful sidetrack, we would expect a modest fall in the shares, given that most of the bad news from Rachel is priced in already, it said.

brave move if you do cynic - gl

are you doubting cynics word gibby...........shame on you....;))

It's a sell. chances are extremely remote of finding any commercial oil, I'm shorting too.

gibby - why? ..... the reverse i would agree with

Regret to say that I also think it's a dud & on that basis have put a limit buy on RKH. Not much point on doing the same with DES, imo, as in the event of a dud, the sp is unlikely to recover immediately.

It won't be long before DES has to give up on Rachel... it is clutching at straws.

DES will be drilling again, straight after Rachel, so I would think there is plenty of room for a rebound should Rachel come in dry.

i know i have a vested interest, but in all honesty, why should the next sites be any more likely to be winners? ..... be honest, with yourself above all, and tell us your logic

chav so far their track record is abysmal why should their chances of making a discovery suddenly improve after another duster?

Surely each drill now stands on it's own merits, regardless of previous efforts, assuming they are different formations?

This must be costing them a fortune with all these delays, I wonder how much money they have left I would be surprised if they have enough for the further 3 planed.

Harry drilling locations are a reflection of the expertise of those employed to decipher the seismic etc, so far they have come up dry.

cant say shorters are cold on DES .....Reading between the lines Rachel is all over bar the shouting and as such ripe for shorting.Hence my own position . .....this could really sink big style to 40p/ 50p............or worse