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

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

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

http://www.bbc.co.uk/news/world-latin-america-11906367

Never Squelched someone so quick. Well done Gibby. Why anyone should post 11 times in so few minutes, with none of them worth reading I will never understand.

Morning Proselenes,

You say, 'Greeky, however, you have to say some "sauces" are good' and 'All I can say is the DES and SQZ leaks were spot on, totally correct'.

Don't wish to expand the argument/discussion who was right/wrong, just suffice to say, there was nearly a 100% chance of oil, as long as you allow for the most minute degree. As to sauces being good (yes a very few are but we don't know which), leaks were spot on. It depends which sauces/leaks you mean.
There were so many saying it was dry with many saying it was not, so of course some were right, but they were guessing.
Many have you as a pure ramper. For myself, I feel you are more of a totally committed believer, who like many feel quite rightly they have to fight your corner. Nothing wrong with that, but you have to have balance. But to say, 'The DES and SQZ leaks were spot on, totally correct', is so unbelievably obviously wrong takes any credibility away.

Greek they were spot on though, DES had oil and SQZ had gas. The sauces said nothing more, nobody claimed anything additional.

Finding hydrocarbons is 50% of the game, the other 50% is finding commercial ones. Derisking that first 50% makes a huge different to your odds of winning the game.

I have made a 6 figure pure profit this year with XEL, RKH, DES, EOG, AST and others.... I am very happy and hope others are too.

The whingers and moaners and those who take up personal arguments are generally the ones who are losing money and got all the wrong stocks and its only natural they are upset as they are losers who hate to see other people winning.

You do not see me stalking anyone ! I squelch the idiots straight off, they do not interest me at all, I am here to make money, not have pointless arguments with idiots.

Mr P ..... more than 100k (banked) profit since april? ..... why is my handle "cynic" i wonder

He didn't say where the decimal point was !! ;o) Nor how many losses there are to set against the profits.

cynic, I did not say banked ! and yes, its a 6 figure number like you say :)

I play to win, not mess around with little bits.

XEL from 20p
RKH from 38p
AST from 3.5p

You can start to easily appreciate that 2010 has been one hell of a year.

Those with small appetites for risk, like you, will always sell too early and miss the big gains..... :) I take the risk of bigger losses, but bigger wins.

hmm .... of course, no profit at all until in the bank, and i'll take your word that the prices you quote actually applied in 2010 (let alone 2010 fiscal) and that you did indeed buy significantly at those levels ..... by the way, what stinkers do you also hold?

Stinkers this year, none, I have an aversions to outright stinkers now, never get involved in them.

And FOOLS will fly, or is PIGS?

Did someone told me >>>>> a profit is not a profit till bank, well playing with words or is numbers?
Before a RAMPER now a small lier or charlatan

Proselenes - 03 Dec 2010 07:26 - 5735 of 5740
I have made a 6 figure pure profit this year

or now is I have not banked

Proselenes - 03 Dec 2010 08:16 - 5738 of 5740
cynic, I did not say banked !

http://www.proactiveinvestors.co.uk/companies/news/23647/desire-petroleums-falklands-oil-discovery-could-prompt-a-97-pct-uplift-goldman-sachs--23647.html

Desire Petroleums Falklands oil discovery could prompt a 97 pct uplift Goldman Sachs

Friday, December 03, 2010 by Jamie Ashcroft

Desire Petroleum and Rockhopper Exploration struck oil on the Rachel prospect in the North Falklands basin

Desire Petroleums (LON:DES) new discovery will focus attention on the potential of the north Falkland Basin, according to Goldman Sachs.

The investment banking giant believes the oil discovery could prompt a 97 percent uplift for the stock, once it has been de-risked.

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), Goldman analyst Christophor Jost said.

A full de-risking of this prospect would result in a 97 percent uplift to our valuation of Desire and 4 percent for Rockhopper ... but we note that it is too early for a full de-risking at this early stage.

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

Desire had more than its share of dusters in the basin both before and after Rockhopper made the Sea Lion discovery nearby. Its most recent well, the first Rachel well, initially disappointed but an inconclusive side-track gave Desire and investors hope.

Initially the first Rachel well failed to find any hydrocarbons, subsequently Desire believed the well was too far away from the mature oil source rock. It therefore sidetracked the well down-dip. The sidetrack encountered oil shows however technical problems stopped any further analysis and the sidetrack was abandoned without a conclusive result.

Now this latest well tested Rachel prospect 1.7 kilometres from the sidetracks bottom hole location, and it appears the explorer's persistence has paid off.

Initial analysis from the discovery well 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 percent, Desire said that the other zones are thinly bedded and lower porosity.

Goldman initiated its coverage on Desire in early November, with a buy rating and a 12-month price target of 197 pence.

This price target is now under review in light of the discovery.

The discovery of oil is a positive in our view, Jost added.

The presence of 20 percent 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.

The Falklands play has been grabbing the headlines for most of 2010 and now with two oil discoveries - Rockhopper Explorations Sea Lion was the first the North Falklands basin continues to draw in more and more investors.

Unsurprisingly the news lit the blue touch paper under AIMs North Falkland oil stocks on Thursday.

On AIM Desires shares initially rocketed over 50 percent before pulling back somewhat and it ended the day up almost 30 percent, just above 130 pence.

Rockhopper Exploration (LON:RKH) shares shot up 28 pence, or 8.5 percent to 355 pence. Meanwhile shares in Argos Resources (LON:ARG) whose license area in the basin neighbours Desire's and Rockhoppers shot up as much as 22 percent in early deals.

Some of the Citys other prominent oil and gas analysts also eulogised over the discovery and the prospects for the wider North Basin play.

This morning, Westhouse Securities analyst David Hart described the discovery as a welcome development, particular given Desires earlier problems on the Rachel prospect.

Hart also emphasised the benefits that the second north basin discovery brings.

A second discovery in the basin, following Rockhoppers Sea Lion find, is also beneficial from a development point of view, given the opportunity to share infrastructure across projects, Hart said.

This is particularly important in the case of smaller discoveries which, at this early stage, appears to be the case with Rachel.

In the wake of the discovery Hart gave Desire a revised price target of 142 pence. He gives the oil explorer a Accumulate rating. Meanwhile, the analyst rates Rockhopper as a Buy with an upgraded target price at 496 pence.

He adds: Our new target price for Desire incorporates a smaller resource figure offset by lower risk afforded by the discovery,

Having said that, we have not de-risked the prospect to the extent we have Rockhoppers Sea Lion discovery, given the still limited information available.

Yesterday, Evolution Securities highlighted that the Rachel discovery suggests that the North Falkland basin has the potential to be an important oil province.

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 also featured Desire in its 'Daily Monitor' yesterday 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.

yawn.....all known and boring.,.

Bought a few this afternoon

moving higher as the order book is very strong 3M v 1.3M, volume over 12M at LSE