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

mitzy, I just did not like that lack of "Pleased" in the RNS along with the fact DES do not have the funds to do anything in 2011.

I do not sell just for the fun of it, it has to have reason, and the reason was lack of funds and uncertainty over the find size (and the lack of any PLEASED) in the RNS.

150p was a good price, tuned out to be a good move, although I would not be saying it if DES said this morning they had 100 MMBO of recoverable oil.

What I think will happen now is DES are drilling Jacinta as they need some drill data to calibrate the ongoing new 3D seismic to.

However, I think they will stop after Jacinta (if its a duster) and pass the rig back to RKH in late January, all being well.

So either RKH start drilling in late Jan, or early March.

looks to me that RKH is the only player left in the park ..... as for DES, i now see it only as a short, though have not (yet) done so

So P sold at 150p on Friday. what a coincidence! By the way, when on Friday did the selling price reach 150p?

apparently he meant to write thursday 2nd where in honesty sp did hit 150 and fell back thereafter .... but amazing prescience to sell at the top of the market by someone who never sells, and then purely because RNS did not start "we are pleased to announce .... "

strangely, there were several more posts from Mr P thereafter which were very bullish in content, but carried no caveat or footnote or similar from Mr P

And, even more amazing, he managed to sell at the high point on that day. That's what I call skill.

but he genuinely has this unerring eye - he's told us so often enough, so it must be true ..... apparently GS came to his door with a sack of $ and gold bullion as a golden parachute but were told to bugger off as he'ld rather have a pint down at the pub

He also has the 'vibes' from his anatomy to guide him. Must be reliable; except, perhaps, after a few pints and a very hot curry.

2/12 - Desire Petroleum upgraded to add from neutral at Evolution. Sp around 130-150p

6/12 - Desire Petroleum cut to reduce from add at BA-Merrill Lynch, target slashed to 50p from 180p. Also downgraded to reduce from add at Evolution, target price 50p.

reckon we'll see rkh follow into the 2's until theres a rig. Great this 10 15 20/share wonder if I'll be alive to see it.,.

At 50p the future will be very bleak.

Quite easy of course to edit posts retrospectively.

good one to short? ..... possibly

One to short..lol..

http://www.dailymail.co.uk/money/article-1336261/AIM-probe-Desires-oil-strike-claims.html#ixzz17QDucH2E

AIM poised to launch investigation into Desire Petroleum's oil strike claims

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8184399/Desire-Petroleum-what-the-analysts-are-saying.html

Desire Petroleum: what the analysts are saying
Shares in Desire Petroleum plunged on Monday after the explorer said it did not make an oil discovery in the Falkland Islands, days after it said it had. What does the news mean for investors?

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There is going to be a huge investigation on DES misleading info.
SELL. Bad management.

Desire Petroleum was forced last night to defend itself against claims that it had misled investors after admitting that an "oil discovery" off the Falkland Islands announced on Thursday was mostly water. The company's share price nearly halved after it said that fresh analysis of sand samples from the offshore Rachel North well showed they did not contain crude, but mostly water with some traces of residual oil. The announcement, which came only four days after Desire had issued a statement entitled "Oil Discovery" that sent its stock price soaring by 26 per cent, provoked anger in the City. "It's a complete disaster," one analyst said. "The recriminations will fly," the Times reports.

going to be a huge investigation ...... 1 to 1p that there will not be!
bad management and unchecked RNS? - most assuredly
sell? ..... possibly, but not sure there will not be DCB first as short positions already in place are closed

No post's from Proselenes on here or on the RKH thread , i wonder why ?