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

Its been an interesting day.

Very similar to the RKH bear raid BUT with one major difference.

During the RKH bear raid where certain "city barstewrds" spread the rumour of heavy oil, it was very easy for the RKH board to deny this the same day as the results were known and the share price rebounds the same day.

DES is more difficult, they should have been still drilling, they might have oil shows data but run no logging, its therefore impossible for them to confirm or deny anything, which makes it the perfect time for a bear raid given their hands will be tied.

Now, in all probability we should look to failure, as this is the most common outcome of oil well drilling.

However, that also feeds the bear raid as the emotions of panic and fear will override rational thinking.

RKH they rumoured for weeks before about "heavy" and for DES people have been talking "tight" lower fans, so its no surprise todays "bad news rumour" is based on tight, makes sense for the bears to use that.

I would not be surprised to see a bad RNS Wednesday (its the nature of the game), but there is a chance there might be a good one and also a chance there will be no RNS as they are still drilling and/or logging.

We shall know soon, is it really bad news coming, or has today purely been about the city boys spreading false rumours and closing their shorts on the fear and panic they created ahead of good news (just like they did when they lied about RKH and pushed it from the 200's down to 60p intraday to close their shorts).

Interesting.... I do hold a few DES ( but as everyone should know majority of my dosh is safe in RKH and waiting for their 2011 mind blowing rise when they get the rig back.... ;) )


Lets see what Wednesday brings........

We're off again.....talk about a rollercoaster....

Scum - when posting on BB's...

LOL

cielo, I stand by it, sauces say struck oil !! Wait for drilling to end, and logging to be done and results in a few days or next week.

cielo - 30 Nov 2010 15:43 - 5602 of 5614
RAMPER when holding the stock >>>>>>>
Proselenes - 30 Nov 2010 09:28 - 5572 of 5601
All "sauces" are now saying oil strike.

Mr P. Please.......the word is 'Sources'. We dropped enough hints along the way!

Its not, when you refer to a dodgy source you call it a "sauce"....... please keep up.

Ah, gotcha! )

There must be a fair old chance of them hitting something as they side tracked Rachel and now just 2.5 km away drilling again.....you have to be pretty certain of something down there to go to such amount of trouble and expenditure....so to me there might be a good chance of perhaps hitting as Proselenes says : one of the Sealions fans.....am I right or is it nonsense ?....

sauce - i prefer HP to others - lol!

bought in early and low this morn - should have dumped when i saw sell 116+ - i got greedy still here!! still anticipate small profit minimum today here - look fwd to the afternoon!!

rf - depending on who you believe oil bearing sands, fans and all that they will hit something - but what? i am ok to buy in this morn again as outta profit but dont want to be in overnight if i can help it which i think is different to your current strategy - gl

It also depends what account you are trading in.....or if you are classified as a trader or simply like me as an investor......in my sipp...I'm in and out all the time....

.

lol

or even certified like me

double lol! and good morning cynic

spotted this elsewhere - yet another view... i think we are all seasoned enough to know what to do anyhow - ahh some seasoning with my HP / HC perhaps!! lol

If people "knew" the well was bad they and their mates would be shorting the living daylights out of it. From 100p they could close out at 50p and make 100% profit.

But they are not ! Where are these people in the know who should be shorting it like mad ?

None about. Why is that ?

The lack of continued shorting points to a bear raid, thats all, and DES was ripe for it as there as so many nervous people around who believe anything written on III as the gospel.

Stocks with highly nervous shareholders are prime targets for a bear raid and that spike on Monday was like an invitation to them to visit DES and do their best.



Bear raiders have one great advantage, and that is the moment people sell they generally go about deramping as they want a lower buy back price, so even the supposed bulls will often resort to short term bears and post all sorts of nonsense to try to help the price down the moment they have sold.

Do you start to see the story unfolding at the DES III thread ? LOL



Trading is dead now, bear raid is over, everyone gone home with their profits and thats it.

What it leaves behind is a lot of nervous people who are unwilling to buy back in if they sold, and others looking from the outside unwilling to buy in, and lots of nervous holders selling bits here and there to derisk as they are scared.

its about time wikileaks did something useful - and leaked the rachel result!! failing that i am going for the sure fire latest news from that down market rag the sun to make my next move - if its in the sun it must be true - gla

If, and it is a very big if, but if good news comes like :

Struck oil in a few places, one or two of significant interest, Rachel classed as oil discovery, new 3D seismic has commenced, will fast track early Rachel data and return to drill up dip in optimal location once new fast tracked 3D is done, in the meantime the Ocean Guardian will...... either go to Jacinta or go to Rockhopper to appraise Sea Lion......

Then if good news comes like that, its going to be so sad for all those who sold out based on the nonsense posted on the internet and in the media.

Of course, if its bad news they will feel happy....... :)

I await an RNS with great interest now........ that afternoon spike yesterday does say perhaps the real news ain't too bad........

There she is :

OIL DISCOVERY.





TIDMDES

RNS Number : 2396X
Desire Petroleum PLC
02 December 2010

?

For Immediate Release
2 December 2010

Drilling Update
Rachel North Exploration Well 14/15-2
Oil Discovery

Desire Petroleum plc (AIM:DES) the oil and gas company wholly focussed on the
North Falkland Basin, wishes to advise that the 14/15-2 Rachel North well has
reached a total depth of 3052 metres.

Preliminary data collected indicate that this well is an oil discovery. The
company has run an initial suite of wireline logs and this together with the
drilling data indicate that the well encountered a 349 metres gross interval
from 2621 metres to 2970 metres of sands and shales with hydrocarbons ,of which
57 metres is net pay in multiple zones. The thickest zone is 8 metres thick with
an average porosity of 20% . Other zones are thinly bedded and lower porosity
but require further analysis from additional wireline logs to establish
reservoir potential.

Desire now intends to complete the wireline logging and wireline sampling
programme to obtain more information on the reservoir quality, the hydrocarbon
saturations and the fluid type to assess the significance of this discovery.
Further information will be released in due course.

Commenting on the well, Stephen Phipps Chairman of Desire said, "It is highly
encouraging that the initial results from the Rachel North well endorse both our
findings and geological model from the previously drilled Rachel sidetrack well.
This discovery combined with Rockhoppers' Sea Lion discovery confirms our belief
that the eastern flank play fairway in the North Falkland Basin is highly
prospective and that further oil fields will be discovered in this area".

Subsurface support is provided to Desire Petroleum by Senergy (GB) Ltd and the
results reported today are based on the work of the Senergy operations team.
This statement has been approved by Dr Ian Duncan of Desire Petroleum plc, who
is a Fellow of the Geological Society, Chartered Geologist, and a member of the
American Association of Petroleum Geologists with over 35 years experience in
petroleum exploration and management.

So ceilo, are you happy now I call you scumbag every time you post.

I said oil, I stood by it and its oil !




cielo - 30 Nov 2010 15:43 - 5602 of 5630
RAMPER when holding the stock >>>>>>>
Proselenes - 30 Nov 2010 09:28 - 5572 of 5601
All "sauces" are now saying oil strike.

Now you know why there was a "bear raid" on Tuesday on DES, just like they did to RKH 2 days ahead of news............