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

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!!

i see the mms are in discussion a little delayed 2day lol

Burning shorts, I can smell people with burning shorts.............

Yabadababadabadou.......

Making chicken sounds going round the room...and all sorts of other noises....

Sold the lot at circa 150p.

Excellent profit locked in.

Now, get that rig back to RKH !!

prose - lol the shorts

i sold just over 155

rig on its way back i believe?

kerrrrrrchginnnggggggggggggggggg

lol

rf - lol

morning dude

what a bright morning - and snow for free!!!

Rig is not moving.... testing ...stilll going on.....after this Jacinta and Elaine....from what I understand : the rig will not be Rockhoppers just yet....200p target minimum for me now...you lot have sold ?....why....

rf i have sold to buy back in lower might dip in shortly - depends on the book
meantime bought some more rrr from des profit
i am sure now des derisked good punt and hope to be back in soon
gl mate

sell high - buy lower = more profit
& more shares for nowt