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

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............

Proselenes,

I said the same re a copy of the RKH raid. After that incident, I read that the FSA was going to conduct an investigation of market abuse/rigging. Did not hold my breath then, wont now.

Interesting to note.....

From the Des RNS.....349 metres gross interval with hydrocarbons ,of which 57 metres is net pay.

From early RKH drill results from Sealion.......217m gross oil column with net pay of 53m.

OK obviously VERY,early days yet and many more tests to carry out, but the indications are that the Des find is at least as big as the Rock find.

So looking very good for Des and even more so for Rock.

Cheers Greek

Rachel is bigger area, so even if only the 8M section is viable it should still be commercial, when you take Sea Lion is just up the road and it can be tied in.

I reckon more 3D now and then drill up dip in a thicker section - appraisal well coming soon I do think.


DES should give the rig to RKH, let RKH appraise Sea Lion while they fast track the ongoing 3D and then they can appraised Rachel in a thicker up-dip section. I reckon they are on the flank at the moment.

prose - lol - i tell you what happened to me yesterday - bought low & large early - out small profit later - in fact just over break even - then saw the bulls late on - it seemed someone knew - did not want to miss out and against my better judgement bought back in to hold overnight - really did not want that - then this morning rns..... LOL

kerrrrrrrrrrrrrrrrrrrrrrrrchinnnnnnnnnnnnnnnnnnnnnngggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggg

gl mate

Greek, taking what you posted.

From the DES RNS - 349 metres gross interval with hydrocarbons ,of which 57 metres is net pay.

From early RKH drill results from Sealion - 217m gross oil column with net pay of 53m.

Rachel is a bigger area than Sea Lion, so even if only the 8M section is viable it should still be commercial, when you take Sea Lion is just up the road and it can be tied in.

I reckon more 3D now and then drill up dip in a thicker section - appraisal well coming soon I do think.

IT IS POSSIBLE THIS HAS BEEN DRILLED ON THE FLANK, and therefore thicker pay could well be shown by the new 3D up-dip.

The most important thing is the Eastern Flank Fairway is now proven, and more and more oil finds will now be made.

bring on the next drills!

des nw derisked - reading again the rig only moved a little - the pay zone may well be much much bigger or are peeps missing that?

someone elses comment:

'the field must be quite big.......

from Rach 2 to Rach North "at least"..... and getting thicker as it heads north.

and we still have a big lump of licence untouched between Rach North and our boundary'

maybe des sp a little north today??


LOL LOL LOL

Very nice!!