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

what's up with some of you guys who not only lack basic manners (hlyeo), but all too readily descend to fairly personal abuse?

Yeah, you bunch of t*ssers. Get a grip and stop acting your shoe size! ;o)

Richard, BBs seem to bring out the worst in people (probably including me). I dislike rampers and bashers in equal measure, but to see posters gloating at the misfortune (whether by taking a loss or selling too early) of others is especially despicable. But I guess the people who post in that manner have to be comfortable with their own character failings. I'm happy to still be in this game after a number of years with a measure of success and knowing I have also helped others to make a few bob.

thoroughly agree, especially re gloating at the expense or misfortune of others

Do people actually realise that Dawn is a "gas prospect" ?

It was viable if Jacinta had oil, but Dawn being gas (and small as well) on its own is nothing.

I think many people do not even realise that DES have Dawn down as a small gas
prospect.........

http://www.desireplc.co.uk/technical_volumetrics.php


.

no i didn't, and many thanks for that .... strengthens the case for shorting even more

Gibby why is this the end of Desire? You do talk a load of bollicks!!!!

I guess we know that with the pack of lies you made up last time.

Dawn still has a chance to hit oil or gas, and then the rig goes back over to RKH. Desire has one drill slot left and the money to do that, along with cash for the 3D and the good news is, they have some breathing space before deciding where to drill next.

Desire still have options left open to them if all fails on the drilling front and the new 3D seismic been shot at the moment may open up many new doors to knock on whether it is raising more money or a partner who knows.

We still have Arcadia wanting to drill in their acreage.

If Sea Lion encroachers in to Desire acreage they are in the money.

Desire have found gas and that must have a value.

Its been a great share to trade in and out of sure it will be in 2011.

Pro you have that wrong,Dawn is a possible Jurassic
horst block structure which Senergy (GB) Ltd in the
CPR calculate has a net unrisked mean recoverable
potential of 124 million barrels............thats oil not gas....FACT

http://www.desireplc.co.uk/images/uploaded/7120856_1849686.pdf

Desire's management has also told us a pack of lies a few weeks ago.

marky, DES think its most likely gas, which is why they show Dawn under their "gas potentials".

http://www.desireplc.co.uk/technical_volumetrics.php


The CPR might talk of oil potential, but DES, in the above link, acknowledge that its most likely gas, if anything is there at all.

http://www.desireplc.co.uk/pdfs/Desire_CPR_Final_Report.pdf

Pro from the CPR report
8 Dawn (Jurassic) Prospect
8.1 Summary
Dawn is a prominent and high relief (650 m vertical relief) horst block structure mapped at the
top Pre-Rift horizon and located in the southern part of the North Falkland Basin. The
reservoir target is predicted to be Jurassic non-marine sandstones sealed by onlapping Lower
Cretaceous shale. The prospect requires vertical migration from a speculative Jurassic source
rock.
The gross mean recoverable resource volume is 124 MMbo and the COS is estimated at 8%.The prospect is mapped on mixed vintages of 2D data and there is a robust closure. The
principal risks are potential for seal breach and charge. The hydrocarbon phase is uncertain
but on balance an oil scenario is preferred.

marky, yes, but the DES web site link clearly states they think it would be gas, and DES have classified Dawn as a potential gas prospect.

That is what you should be looking at, not the CPR as the CPR is written for it being an oil prospect, even though the company may think its very likely to be gas if anything.

Pro i will go off the CPR report and from the last chairmans report than some graph on the web site.

Well, all I can say is the risk with Ernest for RKH was that it would be gas. Turned out to be as dry as Jacinta has turned out to be.

Would make it odds on Dawn will be dry as well IMO, the south of the north is not the place to be I do think.

The north of the north is the place to be, and RKH and ARG are the ones....... ;)

Pro at this present time gas is the last thing any of them want it may have a value in years to come when the whole basin opens up but at this present time its the black stuff they want to find.So i dont think if they thought it was gas they would be drilling it.

marky, they need the info for calibrating their 3D seismic, and you never know, it might be gas or oil or it might be bone dry.

However, the drill data is the important thing for the new 3D.

I think DES will rebound stongly....regardless of the Dawn result once the seismic survey results from around their border with RKH comes in....

Totally agree with you there and a good chance it will be bone dry with only a 8% chance of hitting oil but you never know whats round the corner.I guess we will know in the next 5 days or so.

Then its all to play for with RKH where the down side should be minimal as they already have a proven discovery and the upside is huge with any further discoveries on their acreage.hence my banker for 2011

RF i also think that.

Curious that Arcadia bought into the Alpha prospect, which is Gas, despite everyone thinking that any Gas found would be stranded.