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

chav - 03 Nov 2010 10:47 - 5448 of 5467
Rachel 2 has to have a much higher COS because it is going into a zone which the sidetrack has proved to contain at least 25m of HC's shows...

Sounds like a hollywood sequel to me !.

try reading 5466 .... 5468 reads as if the sand was almost saturated

lol...how do you turn "HC's shows" into "as if the sand was almost saturated"???????????

perhaps it's interpretation, but i read it that it was 99.75% sand with a tiny trace of oil ..... you seem to read it as say 80/20

I read it as what it actually means..i.e. there would have been Oil present in the cuttings that are recycled back up the drill string etc....On it's own it does not prove there is a lake of Oil at the bottom, however it does prove that HC's are present in that location with good sands. DES management must feel very strongly that the evidence so far is very good for them to commit to drill another 16m Well at that site, rather than move onto another target. imo

i don't think they dare not drill as they are fast running out of options - and money! ..... i may be wrong, but i think they need to find stand-alone commercial quantities to keep the company viable, whereas of course RKH has pretty much done that bit already

What's 16 million amongst friends...?...

Stand-alone requires 50mmbb's, which is very possible, but being close enough to Sealion for a Tie Back should make a smaller find than 50mmbb's viable. imo

that little? ..... only if that is a true recoverable amount

One thing is for sure : the sp will go to the floor with another negative result.

Appears EK closed his short on DES and went long now. Cannot blame him as the CoS is now much higher, however I fully expect him to sell out just before news and then will either short or re-buy his long when the news is out.

RKH market cap 600 mill oil found 172 mill + over 200 mill in funds and other prospects to drill through out 2010 to 11 and full appraisal of Sea Lion

DES market cap 360 mill no oil found yet!!!! 2 to 3 prospects to drill then no money.

ARG market cap 89 mill full prospect inventory 2011 after 3d then need to raise money to drill in 2011 to 12

Spot the bargain!!!!

RKH is the absolute bargain at the current price.

When you take into account the 8 stacked fans of Sea Lion and the potential for it to be 750 million recoverable barrels.

Roll on appraisal.

ARG is likely a bit gassy, no need to buy there until they do the big placing to raise funds for drilling.

Marky...DES???!!

Time to go back down the mine marky.,.

Should be pointed out that RKH's present 600m Mcap does not include the latest placing shares and they haven't got the 206m yet.

When the new shares start trading, the new Mcap will be around 805m at present sp.

Thank you Chav and well pointed out.......fence sitting at moment,bought a few more in RKH today and in ARG.Slaley Hall beckons and speedos to the ready!!!!

why on earth ARG? .... i reckon that one is a serious longshot, almost on a par with FOGL

Certainly need the Speedos today Marky!