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

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Very subtle! Just goes to show how 1 letter can change a meaning.

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Indeed, but I am not shorting marky...... ;)


And life is long and not TOO short ;)

Usual Pro waffle. Must be a management consultant.

I am not or have ever been a holder of Des.
But I wish that Des as I do all the FI oil explorers find oil in production quantities, as the more oil found in these fields the better as this will mean savings for all due to the cheaper cost of production for every barrel found, due to the cost v production being bought down pro rata per barrel.
Both the pipeline and shore based infrastructure will be cost reduced for greater quantity of oil flow.
Of course being a holder of Rockhopper and Fogl I hope they come out on top re figures.
At present Rockhopper are winning the race, but it is as always great to post views with hindsight.
For my own decisions, I went with the Rock with my main investment with a smaller investment in both Fogl and as a spread risk FKL.
The Rock over Des decision I believe was 50% research and 50% on luck.
It worked in this instance, but who knows next time.
Naturally I am pleased that it is Des and not Rock who are suffering (obviously because I am in Rock and not Des), but I would sooner both were winners.
To all Rock investors, be pleased that Rock is going great, but don't gloat at the Des situation.

Good post Greekman - It would be good to have a few more positive discoveries to give the FI oil industry more stability and future. It is very early days.

I now hold FKL, RKH and a small amount of DES - having sold the FOGL at a small profit prior to September

Taken from iii


Right just phoned des and had an interesting conversation ....

- Denholm/arcadia are the same co ...denolm was created for arcadia for tax purposes. Arcadia still very much involved- no problem there.

-3D seismic priority area /prospects being done are....ANN/ORCA sub tranche area .
Also....They are doing seismics over rachel north..towards sealion.
Aswell as ...Over ANNA south of rachel and down to and over HELEN.

What is interesting is that they think that ANN and ORCA may be connected and one prospect....but 3d will yet determine this? Hence why its been prioritsed. Which if were drilled would be an amost free carry for des anyway.

-Waiting for 3d seismics is a priority and they dont expect fundraising to take place until 3d has been interpreted and expect to raise funds or consider farm-in options as an alternative option till around last quarter of this year?

- They currently have 60m ish left ...which covers 3ds est15m, 1 more drill est 20m, demob costs est 10mand 12m contingency costs held aside as required by fig etc to cover any issues.

-They expect rkh to take the 2 drill slots and then who knows where the next drill will be....they are waiting for 3d yet again.
They want to drill ninky/elaine and possibly pam also at some point aswell.

- Alpha licence area is a free carry for des if arcadia wish to drill in that licence area.


Yet again he stressed the importance of the 3d infill to detremine next drill locations and to determine future fundraising/farm-in issues later in the year.
Interesting that ann / orca may be connected also (but TBC via 3d etc)

Also....DES/RKH / ARCADIA are all very much in co-operation with eachother and are working together and no issues for concern there either at the moment.
Also drilling back to back is not the idea option for anyone as they all need time to analyse data and take breathing spaces and also with all the 3d data coming in for all the companies to analyse aswell.

Also anticipate that with any positive news flow that may come will help desire along the way ....(sp?)

Taken fron LS thread........can any one shed any light on Evian? is this why the SP is on the move

http://boards.fool.co.uk/they-also-forgot-the-falklands-must-be-in-the-top-12144581.aspx

Apparently Evian are considering opening a plant there and are considering a reverse takeover of DES.

they do bottled water don't they.....perhaps thats what des found.....

mineral water....lol

Desire starting to bounce around today I noticed on level 2 there was a big seller of 400,000 that has been taken out so expecting SP to rise.

13% up now

remarkable,.

Thats Desire for you, glad i bought in at 34p now, was licking a slight loss then you blink and off she blows.

You were licking your what????

HARRY!! behave...lol

Maybe a stupid question but you know me by now....have RHK got the rig and are they drilling....any idea when or how long to reach TD?

balerboy i will get my crystal ball out

Ah, get them both out and give them a good airing then, lol you know as much as me then. Thanks.