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

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).

i thought des would dip further on rkh result - bit surprising?

Level 2 there is a huge sell order in 485,000 at 37.75p......

http://www.desireplc.co.uk/images/uploaded/1472131_3252464.pdf

Analysts Presentation February 2011

Well that big sell has gone on Desire order book maybe why 6% up....one to watch as it can jump in a blink of an eye

someone splashed out 177,494 and bought all them share

Desire bouncing around this morning looking strong on level 2,looks like there had been a seller who is all out hence the price rising.

Not a good day for shares,looked on level 2 there is a big order for 300,000 at 32p to be filled.

I also have Desire going in to auction on level 2?

I have topped up with Desire hoping that any good news with RKH appraisal well will have a knock on affect. I would like to think with Desire getting the OG back to drill next I would like to think this share price will over react on good news and out perform RKH.

Lets hope its a blinder of an RNS it cant be far away, maybe waiting to release news so the FI have the same playing field as we do.

Surely less risk in ARG? DES prospects looking a little bleak, imo, and will be very badly hit if RKH news is negative.

i am wryly amused by the rise in DES sp in sympathy with RKH ..... the next drilling is at Ninky, but that is a (relative) zillion miles from Sealion

Will be peanuts if it comes in dry.....

buy peanut futures ..... actually, it should probably be short peanut futures as the market will be flooded with them!

Desire Petroleum plc (DES:AIM) the oil and gas company wholly focussed on the North Falkland Basin announces that the 14/15-3 exploration well on the Ninky prospect was spudded at 02.45 BST on 29 March 2011.

The prospect is a combined structural dip and stratigraphic pinch-out trap with multiple reservoir targets within the Barremian source rock interval. The well has a planned total depth of circa 2,620 metres and drilling operations are expected to take approximately 30 days.

A further announcement will be made once logging is complete

The Board of Desire Petroleum plc ("Desire") is pleased to announce the appointment of Mr Ken Black as Exploration Director.

Aged 51, Ken is a petroleum geoscientist with 30 years experience in the oil industry. He began his career as a geophysicist with BNOC/Britoil before moving to Clyde Petroleum Plc where he became an exploration team leader. In 1994 he moved to Production Geoscience Limited (PGL). As a director in the business from 1996, he helped grow PGL into a renowned subsurface consultancy, providing global geosciences services in exploration and development. He was appointed a director Senergy Holdings Limited following the merger with PGL in 2007.

In October 2010 he was appointed Exploration Manager for Desire having previously worked on the licences for a number of years through Senergy/PGL.

des chances imo are slim at best - ken black lets hope is he on a 3 month contract?
i have little in des now for me - belly up i do not care - multi bag from here great
rkh imo the key

Ninky has about 25 to 30 % chance of Success,either way wether they hit oil or not they will have to raise further funds to carry on drilling.

Some intresting times ahead the way this will pan out I think the 3D seismic will also be a major key in the future of Desire and the big question is does Sea Lion extend in to Desire acreage which would really be a game changer if she does.

I hold a modest amount of shares in Desire and have learnt some valuable lesson whilst holding the share and I wont be sucked in like last time and will be unloading some shares when the time is correct to try to get back some of the huge losses racked up last time by a bad call by the board of Desire and its so called expertise companys working for them.