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

Proselenes

RAMPER that is you, and the reason is you are posting the same, ( for some rubbish, copy and paste ) on so many different "webs" >>> moneyam, iii, advfn, LSE, etc

Do not twist things when you are loosing the argument >>>>

Below you said it was a dodgy source and now you are trying to say is a good source, not everybody is so STUPID like you


Proselenes - 01 Dec 2010 08:26 - 5617 of 5684
Its not, when you refer to a dodgy source you call it a "sauce".......

Proselenes - 30 Nov 2010 09:28 - 5572 of 5601
All "sauces" are now saying oil strike.

cielo.....


AND WHAT WAS IT ?????


WAS IT AN OIL STRIKE ??????????????



LOL



MY SAUCES CONFIRMED !!!!!!!!!!!!!!!!!!!

And now you have proven yourself to be a scumbag cielo, I shall add you to my squelched posters list.

So I never have to see the rubbish you post ever again :) Bye Bye loser......


Edit : And there you are now with the others

Users you currently have squelched

hilary
Master RSI
zscrooge
Balerboy
ptholden
ravey davy gravy
cielo

Girls...................please scratch your eye's out else where.

Evolution's summary so far:
"Analysts at Evolution commented:" This appears to be a better quality reservoir than in the original Rachel well (reservoir quality is the main issue in the North Falklands Basin (NFB)) and should be capable of a decent flow rate.

"Wireline logging is to continue over the next 10 days (to establish reservoir quality, oil saturation and fluid sampling to get an indication of API) but no flow test is planned at this stage - so the non-believers will continue to be sceptical.

"However, we believe that the initial indications are good and a second discovery derisks the eastern flank of the NFB with the potential to become an important oil province, with positive implications for Desire (DES), Rockhopper (RKH) and Argos (ARG)."

Good for north of 150p again and might hold....

And the Goldman Sachs take on things:
"Analysis
The discovery of oil is a positive in our view, and the presence of 20% porosity reservoir is also encouraging for both this prospect and the potential for the wider basin as a whole. We note, however, that the thickest section was 8 metres and that porosity was lower outside this section, which may mean additional work is required before the company is able to comment on commerciality or volumes. We currently value the Rachel prospect at 9p per share for Desire (which has a 92.5% stake), and 3p per share for Rockhopper (7.5% stake). A full de-risking of this prospect would result in a 97% uplift to our valuation of Desire and 4% for Rockhopper, based on pre drill estimates, but we note that it is too early for a full de-risking at this early stage. We await further details from the company to assess what level of de-risking should take place at this point.
Implications.
We would view the discovery of oil in 20% porosity reservoir as a positive, but note that much of the net pay was in thinly bedded, lower porosity sands which may limit some of the upside today. We believe the result will focus attention on the potential of the north Falkland Basin which we believe will be positive for both Desire and Rockhopper. Our price target is under review."

I would guess a fund raising at around 120p to 130p levels now, they must be short of cash to drill a further 2 wells IMO.

Question is, a quick and dirty one at the above prices to fill the pockets short term ? or a big one at a much lower price to pay for 2011 drilling ?

Thats the big question mark over DES now.

RKH have the money to pay for the rig on their own, DES do not have the cash to fund a 2011 campaign.

My price targets are 200p for DES and 600p for RKH.....this basin will come right...

My target is 15 for RKH, maybe 20 if they get really really lucky.

They are playing for over 1 billion recoverable barrels in 2011 - you do appreciate that......

Thats like over 10 billion US$ in the ground value up for grabs in 2011 with a follow on billion more in 2012.

Hope you are right....have nice positions in both companies now.....in the short term the sp for DES should return to 150p.....

Made almost 2 grand this morning in short term trades on XEL....wrong thread....sorry...

Almost a deliberate error there rf??? ;o)

On the wrong thread, sorry....but there are tremendous regular bumps on XEL this morning....

You can't short sell this online at IG which makes me feel it is going to drop.

I'm interested that you want to short sell.
I'm out atm, having taken profit this morning, but happy to watch for a dip.

I should short OCDO....853 million for a home food delivery service....a bunch of lorries....nuts valuation....

I thought that was


Obsessive Compulsive Disorder

Maybe what we all have just by being here ..

I would not short DES....

And here again for all to see the RAMPER
RAMPER - Proselenes - BURN to HELL like the share price

from ADVFN >>>>>>>>>

Pro_S2009 - 2 Dec'10 - 09:15 - 3424 of 3455
Yep, the same poster said...
DES has oil
SQZ has gas.
I have heard this from other "sauces" as well.
And now today we know DES has oil, so fingers crossed SQZ will announce soon a major gas find.

from moneyam

Proselenes - 02 Dec 2010 09:12 - 5665 of 5692
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.