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

:o) I wonder if just opportunist day trading, but TD can't be far away now. Not confident myself, so don't have a position.

TD maybe a little late as well had to be respudded so would of lost a bit time but not long now till news.

Shona, Shona, Shona what do you hold.

Great News For Desire they are sitting on about 100 million barrels + so it will not be at this price for long. life in the old dog yet
.

Quicky
Market CAP
DES 82 mill found oil and gas

FOGL found nothing so far worth 111mill

http://www.bnamericas.com/news/oilandgas/new-finds-add-weight-to-commercial-development-ambitions-desire

New oil finds made on the PL004b license shared between UK explorers Desire Petroleum (AIM: DES) and Rockhopper Exploration (AIM: RKH) in the north Falkland basin have strengthened plans to develop commercial oil production from the area, a spokesman for the former firm told BNamericas.





In a statement on Tuesday, Rockhopper announced the successful completion of its 14/15-4 well on PL004b license which it recently farmed into with a 60% interest.


The well encountered around 89m of gross hydrocarbon shows with no water signs at three new prospects, Beverly, Casper and Casper south (Shona), as well as the existing Sea Lion find.


Drilling is ongoing.


"At this stage it's still very early; we haven't got confirmed volume metrics, but all I can say, it's positive for our guys. This increases the volumes of Sea Lion, and adds more weight to the chances of further development," the spokesman said.


Rockhopper revealed in September early stage development plans which envisioned investment of US$2bn at Sea Lion in an effort to achieve first production by 2016. At the time, the firm said that new oil finds beyond Sea Lion would help de-risk the idea of future development.


The 14/15-4 find means Desire becomes only the second company to have encountered significant hydrocarbons in the area. Desire has been active offshore the Falklands for almost 13 years. Prior to the recent well its latest drilling campaign had consisted of six dry holes.


"Obviously this increases the chances of leveraging the position through financing further down the road. With that in mind, obviously 2012 will see a lot of activity," the spokesman said.


The 14/15-4 well will be the last drilled off the coast of the Falklands using the Ocean Guardian rig contracted from US service company Diamond Offshore.


Two more British firms, Falkland Oil and Gas (AIM: FOGL) and Borders and Southern (AIM: BOR), plan to resume drilling activity early next year in the area, this time in the south Falklands basin, using Ocean Rig UDW's Liev Eriksson unit.

What's this got to do with DES?

As I said, what has any of this got to do with DES?

Illegal advertising by the look of it !....porn as well....Ian will be pleased ....not...

Porn???? Quick let me see, awwwww, it's gone! :o)

StockMarketWire.com
North Falkland Basin-focused Desire Petroleum has granted share appreciation rights over 0.117% of the current issued ordinary share capital to exploration director Ken Black.

The base price of the SARs will be 22.5p per share - the closing middle market price on 13 January, the dealing day immediately preceding the date of the grant.

The SARs will become exercisable on 16 January 2015.

Well word should start to leak back soon who is in the FI for these meetings.

yes indeed.

Extract from the FT today

After reported sightings of the corporate jet of Anadarko at Port Stanley this week, there were whispers that the American major was poised to enter farm-in arrangements with both Rockhopper Exploration and Argos Resources. Should the speculation prove well-informed, Anadarko’s involvement would be likely to salve the political risk of operating so close to a hostile Argentinian Government and provide a welcome boon for the legions of private investors who have backed those British companies looking for oil off the Falkland Islands. Rockhopper added 12¾p to 316½p, Argos advanced 4½p to 18¼p.

More than double the buys today looks ready to break out,lots going on in FI will the sunday papers get wind of it.

latest Rockhopper rumours
By Sarah Modlock | Sun, 22/01/2012 - 16:52

Rockhopper Exploration (RKH) remains in focus at the start of a new trading week following fresh takeover rumours.

The latest suitor for the AIM-listed company is believed to be US giant Anadarko Petroleum (APC).

Rumours emerged in The Times last week that the Anadarko jet was spotted at Post Stanley in Rockhopper's Falklands home.

The story was expanded in The Sunday Times which reported that a team of officials from the Texan-based group had arrived for talks with the Rockhopper team and may help to provide the $2 billion needed to develop the 500 million barrel Sea Lion prospect there.

Anadarko is one of the largest independent oil and gas exploration and production companies in the world and its focus until now has largely been within the US and Canada

The company was a minority owner in BP (BP.)'s Macondo well and last year agreed to pay BP $4 billion to settle claims over the Deepwater Horizon disaster.

Rockhopper's search for a partner - with the help of Bank of America - may just as easily lead to a takeover bid as the tiny company has limited assets.

Its shares jumped last week when it emerged that five companies were showing an interest in the company, including BP, Cairn Energy (CNE) and North Sea-focused Premier Oil (PMO) in the UK along with Noble Energy and Amerada Hess in the US.
The latest news is sure to enliven trading on Monday and may increase the pressure on Prime Minister David Cameron to ensure political peace in the region following recent sabre-rattling by the Argentine government.

Over on the Interactive Investor discussion board for Rockhopper, there was already a buzz about the potential impact on the share price. This finished at 323p on Friday but some saw it moving closer to 350p on Monday.

Another key issue under discussion was the element of Sea Lion which is owned by Rockhopper's partner, Desire Petroleum (DES).

"Any production of Sea Lion must involve acquisition of the Desire share of Sea Lion. Am wondering how this could work," said ii user 'richlist'.

"Could Desire make high demands and perhaps hold any deal to ransom? Could Desire be offered a 'take i

t or leave it' and if you leave it we will produce Sea Lion and leave your 26 million barrels in the ground. Could Desire be taken over completely so negotiation of their 40% is not an issue?," he pondered.

If RKH does race away remember a deal has to be done with Desire she is my dark horse in this.

Desires market cap is £89 million

Rockhopper market cap 930 million

Morning marky. I am impressed you are still inhabiting this bb. What amused me was the appointment of an exploration director when the one thing DES can't do is explore as they don't have the cash. I see they handed out some SARs the other day, which looks a bit odd and yet another example of the directors helping themselves at the expense of shareholders.

Morning coeliac1

I am hoping who ever partners Sea Lion will by Desire chunk of Sea Lion off then or partner them hoping they get enough cash to go and do some more drilling in there acreage as its huge.

Lots more prospects to be drilled numbers to firm up with Casper, Beverley ect.

Just remember if a bid or partner does come forward for Desire and the share price rockets remember WTE hold % of Desire and the SP will rise still expecting over 31p+ today.

Good steady buying in a poor market,knocking on door of 31p again.