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

my post 5494 of course refers to XEL ...... in answer to your Q ..... because the markets always catch one out and i am very happy indeed of have BANKED a large slab of profit instead of just pretending with a paper profit

to continue the point ..... DES SHOULD have collapsed on the latest news, but patently did not

gibby.

For someone who watches a 100 or so stocks very closely, I'm convinced that is true but is probably only true in a recessionary period. For an example today take a look at SEY. Opened higher looked as though it was going north, then dropped back to 55p to presumably hit the stops and then suddenly shot back-up to 58p closing around 60p. Hardly any investors would have made money (apart from those brave enough to go long back at 55p) but the MM's had a field day. Not only that, but if too many investors went long at 55p I dare say the price would have dropped to 50p to hit their stops.

Very dangerous markets particularly at themomemnt IMO.

baler thanks - thought good to share

really? ..... well apart from the odd inevitable "nasty", i've been finding the markets just dandy for the last 18 months or so ..... but then i don't have enough eyes to watch 100 stocks

cynic - yep in my early days i often banked too late and watched my profits dwindle - now i try not to get attached to any share and bank when i think it is appropriate - much earlier than i used to - today i had a tickle on cza - bought early sold on high - in out job done - but rrr i got in just over 2p - i topped sliced and left the rest to run free as an example as i expect very much there next year or so - and if that goes tats up so what - when i topped slice still tool a big profit as well - depends on the share for me really and the circumstances

dd - indeed - the mms are tough to beat!

cynic
have you closed your DES short? I just cannot understand how it keeps going; there is either some information out there or a lot of punters having a good time. There aren't any wispers in the wind in Stanley that I am hearing..

no .... it's not doing any damage and i'll leave it for now

Lovely graph today!...think it's only going to get better during the rest of the day as well.

I get the feeling the whispers are saying Rachel-2 is going to be given the go ahead.......

you could well be right pro.

I hope your right Pro because if they dont and go to drill Dawn next there is going to be one almighty drop in the share price.

Bought some on Pro's say so, hope he's got broad shoulders.,.

common sense and discipline finally prevailed, so crystalised a smallish loss

Wise man - you can always put it against the wonderful profit elsewhere! RKH peut t'etre?

exactly so .... i have a modest holding in RKH already, and if DES starts to reverse, i am also short FOGL

you'll recoup that little loss - had a good day bmr - still undecided des at this sp - bmr worth a look next week again imo along with rrr which the mms appear to be loading up - lots happening by 30th nov

des - rach 2 - if they get the nod could be a turning point - watching closely - need a dip pls!?

Interesting, poster on AFN thinks the new coordinates for the next drill (Rachel-2) are :

Latitude 49 25 44.01 S
Longitude 59 04 16.28 W

And says rig should be at Rachel-2 location Monday, if that is the case should be an RNS coming Monday morning to confirm Rachel-2 is going ahead.

From AFN :

durby - 7 Nov'10 - 09:37 - 34951 of 34951

New Position - 2.9Km North West

If co-ordinates given by Granny is correct, OG is moving appx 2.9km North West from current position. See picture below (Point 1 is the new location):

http://i51.tinypic.com/2599ulk.jpg

Co-ordinates:
New location (Point 1):
Latitude 49 25 44.01 S
Longitude 59 04 16.28 W

Old location as per NOTAM (Point 2):
Latitude 49 26 58 S
Longitude 59 02 46 W

So we are heading further west - which is good news!

mini kerrchinnngg monday perhaps!?