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

Eddie
I`m still in at all levels! Obviously down on a sizeable chunk at mo but i am holding out. I mean whats the worst case scenario here? That no one wants the f
arm in , has this happened b4 ?
Regards

Hi Berlingo

I don't see the worst case scenario. DES would not let things go this far witout making an announcment, if there were no farm in partners. As Markymar says lots of partners lots of holes. It would take time to negotiate all of this. Look at all the other news Markymar has posted. All the other interest around this area. It's not for nothing!


Kind Regards

Eddie

Thanks again Eddie
All the best
Berlingo

Marky, not sure if the Tranche B trail may be a red herring!

Response from Falkland Islands regarding the status of Tranche B:
----------------------------
Dear Jon

Thank you for your email. I can confirm that Tranche B has been
relinquished by Shell and has not been re-licensed. If you want more details
about Falklands oil exploration, please get back to me here in the
Islands or you can contact Dr Phil Richards our consultant petroleum
geologist, at BGS in Edinburgh. His email address is pcr@bgs.ac.uk.

Regards

Phyl

Cheers Jon i think we are all in the dark and i hope news soon.

This has dragged on and hope the news is good and makes up for the delay.

Regards

Markymar

markymar,

As they say..."no news is good news"...But if the news was bad it would
have been announced long ago.

All RNS`s have been positive regards surveys and farmin negotiations,and emails
that i have received from Anna indicate positive RNS will be given when they
are in a position to do so.

I know it’s a bit late in the day to mention the Canadian trip, but I feel its significance has been slghtly overlooked.

Part of my business is to organise trade missions for overseas dignitaries wishing to attract business to their home shores. These trips are usually budgeted as economically as possible, as the costs and the reasons for the trips are always open to public scrutiny.

Usually, after intense research, businesses are selected that could be mutually beneficial to each other. Meetings are proposed and deals are done. The reasons why these trade delegations are so effective is that they are in a position as mediators to conclude a deal between two major companies by issuing tax incentives applicable from whichever state or country the company is registered.

The Canadians as with any other trade delegation would not go to such lengths and at such cost just to say hello. I must make clear that research and appointments are normally carried out long before the actual trip takes place. Very rarely are appointments made on the spur of the moment. They would only venture this far if they had a sure fire proposition and something significant to gain. It can only be seen as a trade mission with the sole purpose of mediating between one of their own oil companies and a company like Desire.

Desire is not the only company with licenses. However, in terms of getting oil out of the ground, they are very much ahead of the pack. This makes them prime targets for the Canadians.

If Shell's announcement tomorrow holds no light on a partnership with Desire. I feel sure a partnership with the Canadians will be announced shortly after.

Good luck Guys.

florida i think your right about that Canadians trip and they seem to meet some interesting people over there.

Come on Eddie stick you head on the bloke and lets see a graph and your thoughts or are you waiting for maybe some news from Shell tomorrow another long shot but who knows.

One good thing at the minute with Desire is it gets me out of bed early every morning hoping we might get news who needs an alarm clock you go to bed thinking of Desire and wake up thinking of Desire. "SPIV" comes to mind.

Regards all

Another day closer

Markymar

Hi all

Well not the biggest blue candle ever seen. But still a blue candle. If Shell are making an announcment (prelim, results) tomorrow. It might be some buyers decided to get in today, before the rush. The volume of trade was lower (1.295m) today. Yesterday was (2.492m, almost half, yet DES went up. So there might be something cooking.






The stochastic oscilator just starting to kick up.


Markmar, any nails left ?

Anyone any thoughts ?


Good luck All

Eddie

Hi Markymar

Did I read Shell had re-employed, 1000 former oil rig workers ? Or was I dreaming ? Thought if was in the FT a few weeks ago ?

Is this correct ?


Kind Regards

Eddie

Hi Markymar

My head went on the block yesterday, when I topped up at 0.578p.

Kind Regards

Eddie

Hi Momentum

See anything in your charts ?

Kind Regards

Eddie

Few indicators are showing a trading buy, the 52.5-55p level imho is good support and an excellent level to top up.Unfortunatly im fully invested at present and not able to commit further funds having bought into mmg fairly heavily a few weeks ago and topping up since, also committed a fair wad into Bprg last week with some extra funds waiting to go in with a break above 67p.However will top slice mmg above a 1 and top up on DES. Hopefully before any news.

seems to be alot of trades going through at mid price can any one confirm wheather buy or sells barclays showing unknown is this the chance to top up

Since 11.11.2004 DES.L has acheived the following (daily) stats:


ave price 56.8
ave buys 476,341
ave sells 482,092
ave buy trades 90.4
ave sell trades 95.1

Hi everyone
Another frustrating day.However some large buys in there.MM`s marking this down . Eddie , what do the charts show us?

Falkland Islands
John Davis, an English navigator and explorer, may have been the first European to sight the Falklands, in 1592. In 1600 a Dutch navigator, Sebald Van Weert, visited the islands and called them the Sebald Islands, a name that still appears on some Dutch maps. Captain John Strong, an Englishman, navigated the sound between East and West Falkland in 1690 and named it Falkland Sound after Lucius Cary, 2nd Viscount Falkland. The English name for the islands was then taken from that of the sound. In 1764 French colonists from Saint-Malo (hence the name Malvinas) established a settlement on East Falkland, and the following year the British settled on West Falkland. In 1770 Spain bought out the French, and in 1774 the British left the islands. In 1816 Argentina overthrew Spanish rule and in 1820 claimed sovereignty of the islands. But in 1833 Great Britain took control of the islands. Argentina continued to claim the islands, however.
Negotiations to settle the sovereignty dispute between Argentina and Great Britain began in the mid-1960s at the United Nations. The talks were still in progress in April 1982, when Argentine forces invaded and occupied the islands for about ten weeks in an attempt to settle the issue by force. They were defeated by a British task force and formally surrendered on June 14. Argentina continued to claim the islands; the British government refused to participate in further negotiations, but the two nations resumed diplomatic relations in 1990.
In 1992 seismologists discovered significant petroleum and natural gas reserves in the Falklands' territorial waters. In September 1995 Argentina and Great Britain signed a joint agreement covering oil and gas exploration in a specially designated zone southwest of the disputed Falkland Islands. The two countries agreed to establish a commission that would oversee the licensing of companies seeking to bid on rights to explore the waters, the division of royalties, and the implementation of worker safety and environmental protection measures. The next month, Argentina began auctioning oil exploration licenses for areas just outside the disputed waters, between Argentina and the Falklands.

Hi all

Well thanks Markymar. Nice bit of reading for us. We will all be looking back soon & saying, oh I can remember when DES was 0.50p, I should have bought loads more!

Berlingo

The candles are saying the next support should be at 0.5275p. Obveousley this is lower than my origonal estimate of 0.60p. But even the paid profesionals get it wrong some times. What I will say is drop from the doji at the top of the chart is very small (22.32%) considering the rise from 365 days ago which is (421%. It is clear from this that the majority of traders / ivestors think DES is still going to deliver the goods. If you also look at the volume again & think about it. The volume has been low agian (total buys & sells 1.34m) What this is suggesting to me is it is the investors who are still in & holding the price where it is, ie at 0.10p DES was valued at (16.3m) at 0.535p DES is valued at (87m) an increase of (70.7m). Surley not every one is wrong.





If you look at the bottom left (first big blue candle) of the chart the other line you see is the 200 day moving average. Des went up through this MVA on the 13/08/03 & has only visited it breifly since then. So this is when the up trend started, or slightly before. DES has been in this trend since.




So looking at todays SHELL what the hell, we still have encan & talisman.

Anyone any thoughts ?

Good Luck all

Eddie

Hi all

Once again a lot more buys than sells and the price falls again