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

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.

If Alpha comes off its huge!!!

is there any reason why Alpha should have anything at all when Dawn, Jacinta and Ernest patently did not

i would never laugh at anyones misfortune, or be jealous of anyones success - i have had both many times, but marky is this not correct?:

75 million before this drill, approx. 55 million left as each drill is 20million

35 million allocated to Seismic Surveys

20 million left for one more drill (not yet decided where)

Next drill will be months away after RKH finishes with the OG

DES will be forced to issue discounted shares to raise capital otherwise they will be left with nothing other than their licences and Seismic data left to sell off to the highest bidder

i sincerely hope des strikes but i blame the bod for this mess at the moment

i did well trading des this year - got it wrong a few times - but going fwd it looks a bit bleak for des right now imo compared to before they started drilling he first prospect when all looked bright

i hope they strike

the gas - i just dont know - what is your opinion? i suppose it depends how much and cost to move it anywhere?

but i sure do not laugh if someone does bad because i have had that more than once - not nice at all - and i believe what goes around comes around

Dawn it still to be drilled and we should find out results after the New Year, only 6% chance that Alpha will come in but am sure Arcadia have looked at the pros and cons.

Des will not be forced,they will wait till 3D result then drill another prospect with that info at hand at some point they will have to raise money but at what price the SP will be at i dont know depends on 3D results and if they hit any oil.

someone does bad - what's wrong with adverbs?

Alpha and Jacinta couldn't both work so Jacinta's failure would suggest that Apha is still a possibility.

more good money to be invested after bad, would you invest in the last DODO?

Make your mind up gibby your post before that you said

gibby - 29 Dec 2010 11:53 - 5933 of 5963
this sould be the end of des i am afraid imo

Now your saying the will have to raise some money........i think we all know that so its not the end its just you deramping.

Desire's current cash balances are circa 75 million GBP equivalent. These funds will enable us to drill the Dawn/Jacinta well, an additional well and to cover our 3D seismic costs.

marky - lets hope they can raise the money / investment

i said could be the end - not is the end - and it could be still but we will not know for sometime either way

i hope it is not the end for des - i dont deramp just facts

you carry on you will persuade me to buy des before cob today!!