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

I must admit rf, that if you haven't sold by now, then my opinion would be to wait for the next spud or drill result as DES is likely to move in sympathy, though not with the same momentum as it used to.

We'll tie ourselves in rf and not jump ship.......not yet anyway.,.

Prophet of Doom says that with patience, sp could very easily, or even more likely be 20p or even less

Harry, you should read the Naked Trader, you're displaying all the symptoms of egotistical trading / investing - refusal to take a loss!

I agree with you in principle, but if the consensus of informed opinion is that DES is likely to rise on the back of RKH activity, then why sell now? My argument is that rf should have sold long ago, but that is easy for me to say with hindsight and I have learned the hard way myself in the past.

Harry, I meant to direct my observation at RF, apologies.

I've been in the same position all too often in the past.

Now everybody agrees that DES is a doom and gloom company?

no - only me (and you?) who rattles like an old tin drum

and me too and I'm thinking about stopping my short for a profit, what do you reckon?

never go broke taking a profit as i always preach, but in this instance, i'm letting mine run - short from 67p but not a massive quantity; in value, a bit more than my long (50% norm) in RKH if that's a guide

Stopped my short from 65p to 41.5p. Not bad for a week.

Well I'm with Harry and RF. I should have gone much earlier but let greed overrule my instinct. Now it would be only be a loss to put against CGT so it is, IMHO, better to stick with it and take a punt on a future rise through RKH activity or a possible (unlikely) oil find later.

PS Hlyeo has joined Gibby and Master RSI and it makes the thread much quicker to read!

banked 1/2 at 45.25 .... seemed prudent .... if there is then a quick surge to mid 60s, then shall prob short again

its in auction

anyone know why its going mad?

there is a rumour they have found something at Dawn td - we will see - i hope they have - stopped my short earlier this morning - may buy now!!!!!! gla

+5p is not going remotely mad .... furthermore, buyers and sellers are now pretty much balanced though volume is exceptionally heavy ... however, that could just as easily be bears taking juicy profits

Pump and dump ?

Thanks for the message marky.

the rumour, from wherever it came, looks to be built from dust - bit like DES's results to date - and sp is already slipping back