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

Skinny, you're so witty!

Accurate though! :-)

38 days of this to come!! lol

courtesy rkh!

up nearly another 8% lots more buys to sells

Very perky.

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 ?.....

Didnt think it would rebound as quick as it has,cant moan i think you and i RF were the ones to buy at the bottom.

dead right marky, well done rf for hanging on I bailed out at a loss.,.

And I think that a further rise is coming because if RKH come up trumps plus the seismic indicating some targets.....back to 80p plus...

On level 2 at 50p there is a 300,000 sell on the books.

1mill buys more so far and good volume.

3D i am sure it will jump on that news RF but we are some time away but would be great to here Sea Lion goes in to DES acerage.

Slide 11 and zoom in. 3D pre plot map.

http://www.polarcus.com/assets/0000/1209/Polarcus_Company_Presentation_SEB_12_Jan.pdf

why does this one seem to have run out of puff - not that i thought it should have any in the first place?

I think it is suffering from a general malaise that will be resolved one way or t'other when the RKH results are known in Mid Feb.

in my very biased opinion, DES will still still be living more on hope than expectation regardless of what RKH come up with

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

4 in 1 chance it wont whizz,but if they do it will be great news,RKH i see little downside on the share

if RKH have a good result, then surely you'ld agree that DES's proximity will have a strong, if stupid, influence on sp?

once that bit is known, am sure i shall short DES once more, but didn't want to get caught with my trousers (shorts?) down

From FT sector watcher today:
"DES is hosting an analyst presentation today, with the slides already available on its website. There doesn't appear to be much new news, other than confirming that the group's next well is likely to be the Ninky prospect in licence PL004 (DES 92.5%, Rockhopper 7.5%). Ninky is believed to be targeting P50 reserves of 94m barrels, which I'd estimate to be worth around 100p/share net to DES.
Given the group's disappointing track record to date in its Falklands drilling campaign (i.e. five wells drilled, zero commercial success), I'd imagine that hopes are not especially high. The well is likely to spud around March/April, i.e. after RKH's next two wells, the first of which is currently drilling. This increasingly looks like the last roll of the dice for DES, given that its 53m of remaining cash will largely be used for the drilling of Ninky and to complete a 3D seismic programme, as well as rig demob costs
If Ninky fails, the group may struggle to raise further cash for future drilling, however compelling the seismic may look. There are much better ways to play the Falklands, primarily RKH with its Sea Lion discovery, alternatively Borders & Southern or FOGL for exposure to the large structural targets to the south and east (although drilling results from here are unlikely before next year).