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

stop loss trigged the other day, now back in again sitting on profit....for now

Exploration Update
Desire Petroleum plc (AIM:DES), the company wholly focused on the North Falkland Basin, notes the announcement made today by Rockhopper Exploration plc ("Rockhopper") regarding the prospective resources at its Sea Lion Main Complex ("SLMC").

Desire welcomes the update from Rockhopper, in particular its statement that the SLMC is believed to extend into licence PL004 (Tranche D), in which Desire has a 92.5% interest. However, since Desire does not have access to all the data upon which Rockhopper's evaluation is based, in particular the 14/10-6 well data, Desire is unable to confirm Rockhopper's interpretation at this stage. Nevertheless the results of this well are encouraging for the Shona lead which was previously identified from the raw stack data.

Desire's recently acquired fast track 3D seismic data for the northern part of Tranche D and the Ann prospect area continues to be interpreted as a priority and the results are expected to be available in September. A fully merged data set covering all Desire's prospective areas is expected to be available for interpretation towards the end of 2011.

DES is quite tempting, but it's still a very big gamble as they have yet to find even a jerry can of oil

Well am still holding looks like they may have a little luck on there side at mo....i wonder how much of sea lion has gone in to there acerage.

Sea Lion looks to be huge and thats just one prospect.

Poke in the eye for DES :

http://www.proactiveinvestors.co.uk/companies/news/32008/desire-petroleum-evolution-securities-says-mondays-rebound-not-justified-keeps-sell-recommendation-32008.html

Desire Petroleum rebound not justified says, Evolution

2:14 pm by Jamie Ashcroft

Desire was buoyed on Monday by news from fellow Falkland explorer Rockhopper Exploration, which revealed that the Sea Lion oil discovery was much larger than it previously thought.

There are still many challenges facing Desire Petroleum (LON:DES) and the stock's 20 per cent rally is not justified, according to analysts at Evolution Securities.

The stock was buoyed on Monday by news from fellow Falkland explorer Rockhopper Exploration (LON:RKH), which revealed that the Sea Lion oil discovery was much larger than it previously thought.

After it received the interpretation 3D from the fast track area, from a much larger 4,000 square kilometre programme, Rockhopper concluded that the Sea Lion oil discovery is now estimated to contain between 608 million and 1.279 billion barrels of in-place oil.

Rockhopper revealed that the initial seismic interpretation, combined with its catalogue of well data, indicates that the Sea Lion main complex (SLMC) comprises two fan lobes sourced from the same main feeder channel just to the east of the 14/10-5 and 14/10-2 wells.

It also shows that the Sea Lion Main Complex (SLMC) extends the south, and that the new high case area extends over 90 square kilometres.

Specifically for Desire the seismic interpretation has positive implications because, according to Rockhopper, the SLMC extends into licence PL004 which is 92.5 per cent owned by Desire (Rockhopper own the other 7.5 per cent). In a subsequent statement today Desire said that while this is good news for the company it has yet to assess the seismic data itself.

Since Desire does not have access to all the data upon which Rockhopper's evaluation is based, in particular the 14/10-6 well data, Desire is unable to confirm Rockhopper's interpretation at this stage, Desire said.

Investors in Rockhoppers downtrodden partner cheered the news and Desire shares have gained more than 20 per cent since yesterday. However Evos Keith Morris doesnt share the markets sentiments.

Yesterdays rebound in DESs share price is not justified by any significant change in the technical case for DESs acreage valuation, Morris said in a note to clients.

We see no rationale for a change in valuation on the back of the possibility (no stronger than that) that Sea Lion extends into DESs acreage.

There is no prospect of drilling until 2012 at the earliest and there remains questions as to Desires ability to fund further exploration.

DESaster released their interims and wow, what a surprise........... NOT.

No money for any further drills.

Will attempt to start drilling again "when possible".

Looks like that is it for DES, have to wait for a CPR in Q4 and then try to raise funds, but its looking likely now they will struggle to ever get funds to drill again without massive massive dilution.

I see pro forgot to say it may hold 40mill barrels of oil.

Fox Davies flash note

Desire Petroleum plc (UNDER REVIEW) (LON:DES) the exploration company focusing on the North Falkland Basin, today announces its Interim Results for the six months ended 30 June 2011. Highlights: 3D seismic programme completed in Tranches C, D, F and adjacent open areas. Initial interpreted data from our priority areas are encouraging; An updated Competent Persons Report over our priority areas to be published in Q4 2011; Appointment of Graeme Thomson to Board as an Independent Non-Executive Director and Chairman of the Audit Committee ; and Rockhopper Exploration announced in August that in their high case up to approximately 10% of the Sea Lion field may ex tend into PL004 (Tranche D) in which Desire has a 92.5% interest.

http://www.thisislondon.co.uk/standard-business/article-23985998-desire-is-on-the-skids-as-it-fails-to-update-disappointed-punters.do


Desire is on the skids as it fails to update disappointed punters
Rosamund Urwin
12 Sep 2011

NO news was certainly not considered good news today by long-suffering investors in Desire Petroleum. Shares in the Falklands oil explorer - dubbed "Disaster Petroleum" by City jokers - sank 2p to 19p after the company didn't give any new information on funding.

Desire, which is famed for turning oil into water and making investors livid in the process, is rapidly haemorrhaging cash and has repeatedly failed to strike it lucky in the region.

The company, which has at least managed to post a profit for the six months to the end of June, is one of a gaggle of London-listed explorers looking for crude in the remote British territory.

market cap 70m..... seems to be walking on water not oil!

were some its properties not adjacent to RKH, then you could divide sp by 10

.

http://www.bnamericas.com/news/oilandgas/drilling-unlikely-until-2q12-desire

Drilling unlikely until 2Q12 - Desire

Published: Monday, September 12, 2011 14:25 (GMT-0400)

By James Fowler / Business News Americas

London-listed Desire Petroleum (AIM: DES) is unlikely to begin drilling on its acreage off the coast of the Falkland Islands until at least 2Q12, a spokesman for the company told BNamericas.

Desire is currently in the process of interpreting data from recently completed seismic surveys on acreage in both the north and south Falkland basins. According to the firm's 1H11 interim financial report, initial indications are encouraging for the undrilled Shona and Beverly prospects.

Once fully interpreted, Desire will seek financing to fund further drilling in the area, the spokesman added.

"That [financing] is likely to come first and is most likely to be completed during the fourth quarter of this year. It is still a case of reviewing the options that are available, though it's either going to be an equity fundraising or perhaps a farm-down."

Desire has spudded six wells across its Falkland's acreage, abandoning them all with limited oil shows.

Desire reported a profit of US$333,000 in 1H11 compared to a loss of US$6.39mn in the same period last year thanks mainly to foreign exchange gains.

looks like one-way traffic here

Shouldn't the header to this thread have a "not" in it?

coeliac1 some times you need luck and Desire have hit it as Sea Lion is huge with Desire holding a chunk of that oil.

Need to wait for CPR but what litttle i know it looks like the great escape for Desire.

LOL coeliac.

DES do have water and some gas, but no oil.

They will try their best to intimate that some of RKH oil is in their area, but its NOT PROVEN, it may just be water and they have no funds to drill it anyway.

RKH say today they are reviewing keeping the rig or not once their next 2 drills are done, that will leave DES with no money, no rig and only the hope that a little bit of Sea Lion in their area has oil in it (and not like RKH 14-10/3 which had water in it).

I would say, IMO, that DES is a rather large AVOID.

Pro you are a first class prat,if i am squelched how come you can find my thread to post on it.....thicky.

Trying to de ramp and distort facts as usual for your personal gain, Sea lion has all ready been deemed commercial by the board part of sea lion expands in to Desire acreage which means Not Water but oil.

Up to 10% of what sea lion holds could be in Desire acreage with the news we have had to day of the depth it would seem it goes a lot deeper into Desire acreage than first thought maybe enough to make it commercially viable to extract so I guess we will have to wait for CPR report.

http://www.rockhopperexploration.co.uk/pdf/cap_markets/RKH_CapMark_Section_02Technical.pdf

From drill results today that size has got a lot bigger slide 67

Really cannot understand anyone wanting to buy DES.

Market cap 70M.

Oil = None
Water = Lots
Dusters = Lots.


I mean, FOGL market cap is just 109M and yet they have billions and billions of barrels potential. Either DES is grossly overvalued, or FOGL is massively undervalued.

FOGL only have money for two drills max they havent found any oil also oil never been found in SFB.....Only partner they had pulled out it just says it all........overpriced