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Desire Petroleum are drilling in Falklands (DES)     

markymar - 03 Dec 2003 11:36

free hit countersDesire 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

required field - 02 Dec 2010 08:35 - 5654 of 6492

Good for RKH...but they will probably have to wait until march or april before getting the rig again....plenty more for DES to drill now....

gibby - 02 Dec 2010 08:35 - 5655 of 6492

i was quick - 180 - it will get there - just not sure when - maybe not today - black strike was great news - best news will be commercially viable rns - 180 will be history imo
gl

required field - 02 Dec 2010 08:36 - 5656 of 6492

Watch out for the 30 day rule....

required field - 02 Dec 2010 08:38 - 5657 of 6492

Well...my risky gamble paid off....

gibby - 02 Dec 2010 08:38 - 5658 of 6492

i do rf - have a good day

HARRYCAT - 02 Dec 2010 08:42 - 5659 of 6492

Not much of a secondary bounce. I wonder where the sp will settle. Presumably needs a broker comment now to indicate fair value.

gibby - 02 Dec 2010 08:47 - 5660 of 6492

rf - good mate

hc - des settle imo around 140 - 130 range today - maybe drop on close - tomorrow???

take a look at rrr, also ggp under 2.1p

but i am sure you will be on that or aware already

otc high reward high risk etc etc et cetera!! lol

gibby - 02 Dec 2010 08:51 - 5661 of 6492

btw i am already in ggp nut would not buy at the moment - great share with ab at helm but can save much with patience there

required field - 02 Dec 2010 09:04 - 5662 of 6492

Just bough a few more DES.....surprised this is not north of 150p.....I'm almost convinced that with more wells coming we shall see the sp above 200p soon....by late spring perhaps...

robstuff - 02 Dec 2010 09:08 - 5663 of 6492

why so many sells?

cynic - 02 Dec 2010 09:08 - 5664 of 6492

simples really .....

"This is clearly an encouraging result, but Desire have not given any indication of resource potential," says Oriel Securities analyst Nick Copeman.

Proselenes - 02 Dec 2010 09:12 - 5665 of 6492

The same "sauces" that told me DES had struck oil also says SQZ have struck gas..... so I am waiting with baited breath for SQZ news soon.

Proselenes - 02 Dec 2010 09:14 - 5666 of 6492

RF, the trouble is they need to raise money, so I expect some time soon a fund raise at 120p levels to pay for more drilling........

Thats why I wanted to sell at 200p on very good news, this news is good, but 150p was enough for me based on what they have found so far.

RKH is the giant, DES is now the follower.......

gibby - 02 Dec 2010 09:15 - 5667 of 6492

cynic lol dude - yep we do not know if commercial - finger on the pulse
i know the analyst we all expect a rise iis watching - however meantime doubt despite find continues - look at l2 if that is ones best tool
but great find heavily derisked so far about avg sp expected

rob shame you never sold 145 + but watch l2

required field - 02 Dec 2010 09:16 - 5668 of 6492

Not yet...but testing is on going.....give them a chance....

gibby - 02 Dec 2010 09:17 - 5669 of 6492

look to sell / buy back - only if in profit of course

Balerboy - 02 Dec 2010 09:17 - 5670 of 6492

So can anyone put a time table on here on what happens next and how long??

gibby - 02 Dec 2010 09:17 - 5671 of 6492

rf buy low mate - good news commercially watch it go

robstuff - 02 Dec 2010 09:37 - 5672 of 6492

wouldn't sell below 2 now they struck oil and 2 more to drill before RKH gets rig, enormous upside I would think next few weeks

required field - 02 Dec 2010 10:00 - 5673 of 6492

Bought a lot more this morning....
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