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

Hi all

Lets look at volume. This is the chart bellow the main chart. As you can see there was some high volume at the bottom left. The largest amount being a few days into the rise (the blue candle with long thin line on top). The volume was so much it was the biggest for a long while. Although it was the highest volume the share price did not stay at the top of the day's high. The day's high being the peak of the shadow at the top part of the main body of the candle. So the day's low being the extreme low of the shadow. The main body of the candle opened at the bottom of the blue body and closed at the top of the blue body. Lots of volume with an increase in price but closing below the high. The volume was about 18 million trades (buy & sells combined).




Good Luck All

Eddie

Hi, Eddie.

I'm going to have a bash at the analysis disc (you recommended) next week now that I have some time to spare. Will let you know how I get on. Did you sell COP, by the way?

Hi Kus

Yes I did hold. Go to cop thread please.

Kind Regards

Eddie

Oh dear Eddie looks like the 55-56p area isnt going to hold. Target price 50p

Imho without any buying and a little selling MM are going to walk this down.

Any news on delegates visit from canada
or potential partners / fund raising.
We need news to break fast or we are on the slide
50 or below looks likely short term.
Would this be a buying opportunity or will the bears
tear it up ???
still supporting but getting a bit jumpy

regards HUSTLER

Hustler,100,000 buys at the end of the day look like 3 buys and one sell which indicates someone is very confident. We had a dip like this before the last big rise so I'm betting that the news is close.

Luckyswimmer imho i think we had 1 buy 1 sell and a rollover so fairly neutral.

luckyswimmer,

Agree 3 x 100,000 buys end of trades....2 timed @ 3.44pm 56.5p.

50 EMA gave SP support today Edd, must admit was looking for a blue candle to give us a " morning doji star "

Apologies LS didnt notice that the two trades at 0000 where at the same price of 56.5p

Everything about where we are this evening feels as it did pre-announcement to me. Some while back JPDM said, in one his Guinness induced ramblings, that a sharp pull back could be a precursor to the next announcement. We have certainly had that today! An announcement from Desire is well overdue and trading events of today indicate that things may be coming to a head.
The share price has certainly taken a slide recently. How much further it may do I don't know but this is no time to sell in my opinion. Someone got a bargain late today and tomorrow will be as interesting (but I hope not as red).
As for the fundamentals nothing has changed and tonight we are all one day nearer the news.
I am hoping that JPDM will tonight be sitting down at the keyboard and composing another Guinness induced late-night ramble!

Hi All

When we got the doji candle, I did say it might take a few days before we see the change of direction. The 10 day moving average looks less steep now, so may be about to turn.

Yes Momentum it would have been nice to see a morning doji star today. A big blue candle will do for tomorrow instead. Might be wishfull thinking !

The news will be here soon !






Good Luck All

Eddie

From Jon B on ADFVN

1) Shell has an important week this week; they need re-assure investors about replacing 'lost' reserves.
2) Mr Jungels takes up his new position at Rockhopper this week.
3) Rockhopper due to announce more about their new management structure at beginning of February. (Maybe this week)
4) Apparent Connections between Encana (Candian Oil Co)& Rockhopper
5) Canadian MP's and Businessmen in recent 'learning' trip to Falklands
6) Rumours of a 20 million placing by Seymour Pierce with Institutions.
7) Rumours of intense negotiations with Shell.

The more this drags on the more intense the negotiations have been and a good deal we will have multi partners and multi holes will be drilled.

C&D how much oil is there? Well we know there is a minimum of 1.5 billion extra from the new 6 prospects found minimum so news on that front soon and news on the Gas and how much may be down there.

Its not a matter of if it will happen but a matter of when and news is coming


Regards all

Markymar

Cheers Eddie

Just when i thought we were gonna have our first straight trading line today for the 1st time in months (anyone remember the last ?), it all goes mental after lunch!!
Good buy backs though.Could be after a quick profit.See what occurs tom.Starting to bite my nails.
Good luck everyone.

A lot of people with no patience today. Silly boys, couldn't see a pot of gold if it hit them between the eyes.

sailing down under if you ask me!!

Nah, if you look at the volume & trades, it is all small PI's bailing, a big drop on marginal volume is only a scare. I think volume is the key indicator here into what is going on. Does not look like a leak to me.
Hopefully we will see some buying now. Please!

This share was 62 pence just 6 days ago. That = a 14% drop in just 6 days. Seems like somethings leaking if you ask me. My advice is to bail out ...and quickly too!!!

Average trade size so far today is approx 7000 shares = around 4000, only 4 trades >25000 shares (14000).
Hardly word of leak is it?
The share jumped from 50-70 on specualtion of an announcement, that hasn't come so they have slipped back. AAslo rumour of a placing at 50p will have added some downward pressure.

I think your advice to "bail out..and quickly too" shows a lack of understanding with regard to recent price movements and "seems like something is leaking" show a similar lack of understanding of trade sizes & volumes.

You are just deramping.

best wishes
Jon