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 didn't realise having the last laugh on DES or any other company was such an important element of trading / investing. I always thought it was about at the very least not losing money and preferably making reasonable profits. Silly me.

Well, if DES moves back to 65-70p or more, I will short it again.

peter - you were always an ass (like me!)

Richard - up yours & a happy new year

back on track, there's clearly a lot of two-way traffic which, judging from the non-movement of sp, is evenly balanced

I guess we will get news in the next 30 minutes or its going to be at the start of 2011,I have still a small amount riding on this but have money sitting at the side here ready to jump either way.

Its been a great share to trade in and out of during the year.

forgive me for laughing marky, but on your own admission, this stock has not exactly been a star for you ..... btw, XEL is suddenly 387 mid - MM games yet again no doubt

Had a lot of hope in it Cynic and they have just been unlucky on the drilling front if Liz had come in it would have been a totally different game, its early days in frontier exploration. There will always be winners and looses.

Been lucky in holding RKH and after the nod off you XEL so its been a profitable year so I cant moan.

can't moan? .... you're not even trying!

Money on the side ready to jump either way, so you are shorting as well, marky.

while not yet dead ( l have been shorting this dross since 116p as per last posting) its on a life support machine.............The real irony would lie in the fact if the Argentiniians struck oil in their own deep sea drilling prog.

Captain Hlyeo as it has a low chance of Success I have been slowly off loading to an amount of shares I am happy to gamble with, I have money sitting in my account ready to buy in with any success or failure in Dawn hitting oil.

The shares are sitting at 47p and i have no doubts if Dawn is a dry hole the shares will plummet to a low of 15p to 20p maybe in the first 5 to 10 minutes of trading if so I want to pick a sack full of them up.

If Dawn is dry then Desire wont drill for quiet a while and hopeful with the new 3 D seismic been done and fast tracked will lead them with a very high chance on their next drill, which we will see the share price 60p+ if I can treble or quadruple my money in side 6+ months even a years time I will be happy. At least that is my strategy for now.

Just to wish you all the best for New Year and hope we all make lots of money in 2011

A negative thinker see a difficulty in every opportunity,A positive thinker see an opportunity in every difficulty!!! Happy Trading

Ok its New Year prediction time and as I am in a good mood, so I think that Dawn will be gas. Finding gas and that small a size is of no use to DES, in fact its probably better news for RKH as they have the biggest (and so far not carrying any value at all) licenses in the south of the North with their 2 licenses and confirming that the gas prone source rock is active may offer hope down there. After Ernest being dry some gas at Dawn would be a nice booster for RKH, but a downer for DES as they need to find oil in order to get funding done at a good price next year.

Anyone else like to make their prediction and then wait for Tuesday 7am for news ?

I base the gas theory on the fact the share price suddenly rose but the momentum stopped, indicative of initial gas signs while drilling, if the share price rise kept going then it might has suggest oil, but it faded out. Also, they are now drilling the same level as the gas at Liz, so one would assume they will get the same result from the same source rock. See below :



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So that is the guess now the markets are shut, dire news for DES who need oil but may have gas (perhaps a bit of wet gas) but thats no use. Boosting news for RKH who have no value attributed to the 2 southern licenses they hold following Ernest failure but that may need to be looked at if Dawn confirms that the source rock of that level is producing gas. A gas inflating boost for RKH but a flatulent deflater for DES.

Wishing you a very happy new year, Admiral markymar.

There's respect, I like that hlyeo.....lol

I cant wait till Monday.

..............or even Tuesday?

p*ssed again mitz....lol

I got that spot on marky !!!!

http://www.moneyam.com/InvestorsRoom/posts.php?tid=4967&from=6039


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