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

Nice interview to watch :


http://www.proactiveinvestors.co.uk/companies/stocktube/590/gill-leates-of-jm-finn-says-oil-around-the-falklands-has-the-potential-to-far-exceed-the-north-sea-.html


Gill Leates of JM Finn says oil around the Falklands has the potential to far exceed the North Sea

Wednesday, November 17, 2010


Gill Leates, manager of the JM Finn UK Smaller Companies Fund, confirms that the potential for opportunities in the waters around the Falkland Islands could be as much as 60bln barrels of oil, however it's likely to be sometime before it's proven. Gill also said that the outperformance of small caps over larger cap stocks is likely to continue as innovative companies produce good earnings growth.

http://www.proactiveinvestors.co.uk/companies/news/23114/broker-roundup-desire-petroleum-petroceltic-kenmare-resources-medusa-mining-african-aura-23114.html


........Westhouse Securities analyst David Hart has re-evaluated Desire Petroleum (LON:DES) after the mixed results of the first Rachel well in the North Falklands basin.

The Rachel prospect has certainly had its share of ups and downs over a relative short period of time, Hart said.

As a result, we have also adjusted our risk assumptions for making a discovery to reflect events as they unfold.

The analyst has upped his price target to 121 pence and reduced his rating from buy to accumulate reflecting the gap from the current price of around 107 pence.

Clearly, success with the Rachel North well will result in an upgrade to our target price, Hart added.......

Feedback says everything is going fine and to plan, therefore expect strong rumours to start coming out week commencing 29th Nov IMO.

Thanks to Granny @AFN, Survey Zone 1 of 4 coordinates now available.



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Who is that Pro_S2009 poster on DES ?? ;)


Worth a read, 4 page write up.

http://uk.reuters.com/article/idUKTRE6AL1RH20101122?pageNumber=1

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SP is getting a bit more excitable now.

So it should be, they should be now fast approaching zones of interest...... :)

Any day now might see a sudden whooooosh of the price upwards.

Or downwards......

I agree with Harry.

Positive vibes presently emanating.

I would look for news, either way be it good or bad, next week. At the moment though its all positive vibes.

From which part of your anatomy are these vibes emanating?

Shorts might start to panic soon..........

Try a larger size.

Pros

I'm sorry to hear, in response to a question about your anatomy, that it is your shorts that might suffer....

Word is the section above the target zones is now nearly complete and they will be drilling ahead into the target zones probably through Sunday/Monday.

Therefore, watch volumes and rumours on Monday/Tuesday because that will be the time.

Shorts building up in DES, the stock on loan is now fast approaching 5 million.



That is going to make for one really big shorts closing rally on any good news. Might see a spike over 250p.

Very quiet here despite DES putting up a lively show this Afternoon!

Just got in from making snow men Chav.....nice to see the rise

Went shopping at your closest Tesco's this morning Marky and never got back till 4, so missed some of the fun myself....interesting to see how the rest of the week goes!

RKH blipped up in sympathy but couldn't hold on to the gain.

There should be surprise to striking oil. Will be nice to see the shorters burn and suffer this time.......