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

http://www.proactiveinvestors.co.uk/companies/news/23616/broker-roundup-desire-petroleum-rockhopper-ascent-resources-minera-irl-electrum-alliance-pharma-23616.html


Desire Petroleums (LON:DES) Rachel discovery suggests that the North Falkland basin has the potential to be an important oil province, according to research by Evolution Securities.

This morning Desire announced that the latest well to test the Rachel prospect struck oil from 2,621 metres.

Initial analysis indicates that the well encountered sands and shales with hydrocarbons with 349 metres gross interval, from which it has 57 metres of net pay in multiple zones.

The new Rachel well encountered sands and shales with hydrocarbons from 2,621 to 2,970 metres.

The thickest zone is 8 metres thick with an average porosity of 20% , Desire said that the other zones are thinly bedded and lower porosity.

Desire stressed that further analysis, from additional wireline logs, is required to establish the reservoir potential.

Wireline logging is ongoing but initial indications are that the thickest section has good porosity which bodes well for any future flow test and therefore commerciality of the field, Evolution oil analyst David Farrell said.
Farrell upgraded the oil explorer in light of the news. He now rates the stock as a buy with a 180 pence target.

Similarly Northland Capital - formerly Astaire Securities - also had an upbeat view on Desire, now it has an oil discovery of its own.

This looks very positive and vindicates Desire's decision to pursue the Rachel prospect with a second well (largely a consequence of analogous data from
Rockhoppers Sea Lion prospect), Northland analyst Andrew McGeary said.
Finally some reward for Desire's endeavours in the form of oil here.

Fox-Davies Capital featured Desire in its 'Daily Monitor' today and asked: "Have Desire and Rockhopper cracked the North Falkland Basin? Possibly, as Rachel confirms one of the play concepts unravelled by the Sea Lion discovery.
"It remains to be seen though whether reservoir development and quality are sufficient for Rachel to be commercial. Hence this is obviously very good news but still early days," the broker added.

The potential of Ascent Resources (LON:AST) assets is clearly being underestimated by the market, according to research by city broker finnCap.

The broker believes that Ascents projects could deliver nearly 10x upside if they prove successful.

Trading at a 60% discount to total NAV (Net Asset Value) Ascent is by far the cheapest stock in our coverage universe, providing a highly attractive entry point, finnCap analyst Will Arnstein said.

He adds: we believe there are near-term catalysts that could drive a material re-rating.

The analyst highlighted the 414 billion cubic feet (Bcf) Petişovci-Lovaszi re-development project, and its plans to drill five other exploration and appraisal wells planned in 2011, as two of the main catalysts.

This morning Ascent told investors that it has mobilised the rig for the first well in the Petişovci-Lovaszi programme.

This well, Pg-11, will be the first to drill on the Slovenian portion of the Petişovci-Lovaszi project area. Depending on the weather drilling is expected to get underway on or around 16 December 2010.
FinnCap believes that the Petisovci-Lovaszi gas field provides a material re-development opportunity .

A recent CPR (Competent Persons report) by RPS has confirmed Petisovci-Lovaszi as a significant under-exploited tight gas field with 412 Bcf of GIIP (billion cubic feet Gas Initially In Place), Arnstein added.

The field has been partially developed in the past, producing 10 Bcf without the benefit of modern drilling and completion technologies,

Ascent believes a recovery rate of 65% should be achievable from reservoirs of this type, providing a huge re-development opportunity for the company.

Additionally the analyst also highlighted that Ascents innovative sale of its Swiss assets, may still provide exposure to high impact drilling at no cost.

Overall Arnstein believes that Ascents value could rise rapidly.

In terms of his current valuation, Arnstein said: Our total NAV for Ascent is 15.6p per share and is made up of an -1.2p core NAV and a 16.8p risked NAV.

With most of Ascents activities in the exploration and appraisal phase, core NAV is currently limited, but could rise substantially within the next year as projects move rapidly to development.

Separately other analysts have also gave upbeat comments on Ascent and the Petisovci-Lovaszi project.

Fox-Davies stressed that Ascent has taken important steps to progress the work on Petisovci-Lovaszi.

This asset has the potential to drive near-term value and it is welcome news that the drilling operations are underway; Pg-11 will be the first in a 4-well drilling programme, the broker said.

We look forward to further updates from the evaluation programme and maintain our Buy recommendation.

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

( PS. I am long AST (Ascent) from 3.5p :) )

EVO upgraded the price only 3 times

Desire Petroleum upgraded to add from neutral at Evolution, target price 180p up from 66p

The next well is a duster! Trust me! Sell now!

I have someone on the inside, and I am only posting this as a favour, as I do not wish to see anyone loose money.

I have it on good authority, 'There is no more oil to be found in the Falkland Fields'.
Remember, you read it here first.

I wonder how many of those in the know, who stated, 'Sell its a duster etc', are already penning such posts for the next drill results.
So I will be the first to spread one of those ridiculous rumors and save them time and effort!

At least next time I hope punters will be more skeptical of such posts.
No doubt if the results had been negative, they would be crowing how, 'They told us so'.
These people were either attempting (and succeeding) to knock the price down or/and guessing for the fun/disruption of it. It's as simple as that!
I guarantee they will attempt the same each time drilling/test results are due.

This mornings RNS shows more than anything what notice we should take of these doom mongers. NONE.

Greek, the main and only thing anyone should remember on BBs is to trust no-one and do not believe anything you read unless it is in the public domain. The arch ramper Pros, is an obvious candidate for understanding why this is so. His 'sauces' (sic) have informed him of hits at DES & SQZ; SQZ hits a duster. Rampers and bashers use the same tactics, but in slightly different ways. The posting of inside information or emails purporting to be from the CEO are favourite tools. Personally, I detest both types, they usually cost the ill-informed punter an awful lot of money. Oh, creation of multiple IDs is a also a favoured tactic, boost interest in a shit company by simulating activity on certain threads. Pros will know what I mean (AST).

Edit. Forgot to say, well done to those who stuck with DES through a pretty torid period (I don't include Pros in that remark, it wasn't long ago he was saying DES is finished and RKH the only NFB play - deramper at work?)

Ptholden,

Fully agree. Many posters who often have some good input let themselves down by posting that they 'know' or 'have heard' etc. Whilst some are a total waste of space.
I only use these boards to obtain initial idea's for investing, followed up by my own research.
Obviously I do gain from some who post on these boards, and hopefully some gain a tad now and then from my input, after of course doing their own research.


Regards Greek.

your heading for a squelch you two are, i can feel it coming on.....lol join the club

Not much from the FT market report >>>>>>>>>>>


Desire Petroleum was up 24.8 per cent to 132p after the Falklands explorer said it had found oil in preliminary tests of its Rachel prospect.

Rockhopper Exploration, which has a 7.5 per cent stake in the Rachel well, put on 8.1 per cent to 353p.

From the Telegraph >>>>>>

Desire Petroleum shares jump on signs of Falklands oil

Shares in Desire Petroleum rose by 24pc after the Falklands explorer said it is testing to see whether an oil discovery is commercially viable.

The price rose 25 to 131p on the news that Desire has found evidence of oil in the Rachel prospect in the North Falklands Basin.

Desire Petroleum shares jump on signs of Falklands oil

greeky, however, you have to say some "sauces" are good.

It was said DES had oil - true.
It was said SQZ had multiple layers of gas (turns you oil and gas but not commercial sadly) - so true again.

The whole media/tip magazines/tip sites all generally work on "sources" and nudges and winks - if anyone believes that there is no leaks they are living in dreamland.

At the end of the day you have to watch out for the posters who never talk about possible bad news, who never accept any risk, who post things are always only ever going upwards, who avoid mentioning the possibility of bad news.

A ramper will never ever post about potential for news not to be good, or possible bad news..... that is not their game plan.

All I can say is the DES and SQZ leaks were spot on, totally correct, no claims were made apart from one having oil and the other gas in multiple zones, and that was 100% correct.

lol
me quids in
or sorry squids
gla
http://www.bbc.co.uk/iplayer/console/b00w10v4/BBC_Radio_1s_Essential_Mix_Roska

des worth a giraffe

sauce lol us city boys good time gl

= lol

http://www.bbc.co.uk/iplayer/console/b00w10v4/BBC_Radio_1s_Essential_Mix_Roska

go mate lol

huge wow

http://www.bbc.co.uk/iplayer/console/b00w10v4/BBC_Radio_1s_Essential_Mix_Roska

des oh i am sorry

little weeds

lol LOL

http://www.moneyam.com/InvestorsRoom/posts.php?tid=4967