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

Cynic,

I am not a holder but feel sorry for those who have clung on in the hope that the 'next one' will be a gusher.

It's the endless blathering from P - re this share and others - that gets me.

StockMarketWire.com
North Falkland Basin-focussed Desire Petroleum will plug and abandon the 25/5-1 well on the Dawn/Jacinta prospect.

It said the well had reached a total depth of 1,697 metres in pre-rift sediments.

Desire added: "Based on preliminary drilling and wireline logging data there are no significant hydrocarbons in the Dawn prospect and the well will be plugged and abandoned with gas shows around 1,434 metres.

"The lithology in the section from 1,313 to 1,697 metres is predominantly claystone and good quality sandstone with 71 metres of net reservoir based on initial log analysis."

Wireline logging and abandonment operations will now be completed and the rig will then go to Rockhopper Exploration to drill one or two wells, subject to regulatory approval.

The rig will then return to Desire to drill a well at a location still to be finalised and subject to regulatory approval.

The Dawn well was testing a significant fault block at the southern margin of the main basin, some 28 km from previous well control, with primary reservoir targets in the syn-rift and pre-rift.

These targets are stratigraphically older than the reservoirs in the East Flank play.

The implication of the well results for remaining prospectivity in this part of the basin will be assessed once the new data has been integrated and all post-well studies are completed.

blackdown - i also get bored with his persistent ramping nonsense, and also post to that effect

Well not good news but have been buying a few to tuck away.

Well, proselenes was right. I told u so. Well done, pros.

hyleo.....shhhhhhhhh

The green eyed monster is about and you should be slagging me off, they will turn on you too as well if you are not careful.

Call me some nasty names and stick your tongue out, that will keep them happy......

More bad news when will it ever end.

when the shares are suspended

I think it was a rhetorical question, but that certainly adds a touch of reality to the situaton!

It's the end now. Let's face reality. I told u all it was a false Dawn.

I'm still in and just going to wait for better times....(reduced holding).....with RKH's 2 wells and then probably Desire spudding one close to their border.....sp will rise.....perhaps back to 100p at some stage..... this is the worst share that I hold by a mile...others more than making up for this....

then why the hell don't you bite the bullet and (say) buy more RKH

Already in with quite a lot.......RKH's sp is 10 times DES's.....has to move a lot to make it worthwhile.......I did sell some DES much higher up...but rather than bank a loss.... will wait because better times for this share will come.....if RKH come up with the goods...it will send DES up as well, regardless....frankly not too bothered what this does as plenty of successes elsewhere....

Far from the end captain hlyeo and i think we all new it had a low chance of Success I have been buying in this morning and this will bounce back in time.

disagree marky ..... it was only with great difficulty that i managed to short some more as the market is effectively "unborrowable"

20p on the cards for DES now in a few weeks time.

Short still running, hlyeo? Also, what %age stop are you using, as there may be a few bounces along the way? (Just interested as not a shorter myself.....yet).

i am too but almost never bother with stops as short spikes are common and are a pain ..... further, if not guaranteed, they are effectively a waste of time

Can't understand what's the huge interest in these Falkland stocks apart from being in British waters.......

agree rf, sooner have north sea...going well, (exscuse the pun)