<>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
Good morning fellow sharehunters.....yawn !....ah these wake ups are becoming more and more difficult....what fine beast are we after today ?...ahh Desidre Petroleum....yes...why am I regretting not doubliing up at the bottom like I did on Sterling Energy.....many a fine buck to be made on rebounds....now where's my coffee squaw ?.....
seemingly a bit early, i have closed my short here for an acceptable profit on the basis that if RKH come up with something good, then DES will whizz, even if only temporarily