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

Thank you Markymar for a timely reminder of the facts.

Luckyswimmer

Cheers Lucky, am at a loss with this share price it drops again today 3% and there was 798,000 Buys V 540,000 sells.

Regards all

Markymar

http://phillips66.yellowbrix.com/pages/phillips66/Story.nsp?story_id=64593836&ID=phillips66&scategory=Oil&

Thirst for new investment

The thirst for new investments has not just energised the market for floats, but has also given a new lease of life to stocks that have trundled along on Aim for years. Ask Colin Phipps, once head of Clyde Petroleum, and now chairman of Desire Petroleum. Desire was the talk of the spread-betting bulletin boards in November after a vague press notice whipped the market into a frenzy. Its shares raced from 30p to 61?p in a matter of days as investors responded to preliminary 3-D seismic data that suggested accumulations of oil in the range of 100m-1bn barrels. There were also "considerable indications" of the presence of natural gas.

Phipps says: "Of course we were surprised at the reaction. Over a third of the company's shares changed hands. The volumes were enormous. But the market has re-rated the sector. It knows how much new discoveries are worth. A market value of pound(s)80m may seem very, very high relative to our underlying assets, but if we were to find 100m barrels it would be peanuts."

Desire hopes to be drilling in its blocks north of the Falkland Islands next year. Until then its shares are likely to bounce around as investors try to be first in to take advantage of any Cairn-like upside. Cairn's shares were trading at just over 360p before Rajasthan. They doubled within days and are now around 1500p with Cairn nicely settled in the FTSE 100.

Phipps says: "Cairn was the spark that got the market moving, but the fundamentals had been in place for a while before that. In essence, the oil price has gone from the lows of $20/b to around $50/ b and it could be around $40/b for all of 2005."

The Falklands promises to be a hotbed of speculation as long as oil prices can hold around $30-40/b. Hedge fund RAB Capital brought Falkland Oil & Gas to the market and now has a 30% stake. RAB's chief executive, Philip Richards, says that with the right oil price the group could establish its own province. "We have acreage there the size of the entire UK North Sea. We don't know what's there, but there's huge upside." The knowledge

Hi all

Thanks markymar.

Well I know nobody wants to see this chart but here it is any way. As markymar has pointed out the buys were greater than the sells, yet DES closed lower. Everbodys profit looking less at the moment. But look at like this if your not in DES when the announcement is made then you'll not get in at these low prices. The worst case you can have is if you bought at 0.68p, so any one who has bought lower than this is still in a good position. The next supports are at 0.48p & 0.45p. This is in the middle of the big blue candle 10/11/04. Tis is about the middle of the last big rise. DES went up by +33.9% 09/11/04, 33.3% 10/11/04 then 15% on the 11/11/04. A rise of 82.2% in just 3 days. So although the short term trend is down, the up side looks much better. Even if you had sold at the top 0.68p. You might ask yourself where would you get back in. As markymar said it's going to be a rollercoaster ride you'll never forget! Not for the faint hearted ! Lets hope the announcment is soon then its back to counting the cash..



Any thoughts ?

Good Luck All

Eddie

Not so many messages on this board but the quality is a bit better than elsewhere so here's my twopennyworth. It now seems that the rumoured placing is correct so when it is announced soon would anyone like to predict a) the price following a placing announcement alone and b) the price following a placing announcement with some details of a farm-in.

To start the ball rolling and to liven up a dull wet afternoon I'll forecast;

a) 66p
b) 96p

luckyswimmer

I'll go for

a) 78
b) 118

Jim

Oily Jim, I will go for

A)86
B)102

http://www.berlinerboerse.de/


I see the shares went up 8.5% on the Berlin stock exchange today.

Hi all

I'll go for

A) 0.89

B)158p

Not much being given away in the candles today. The volume was quite low also. Looks like the market is waiting around for the announcement. Just as we are.

Good Luck All

Eddie

A better day,looks like the silent auction has finished and now waiting for news.

Fingers crossed

Markymar

C`mon DES !

glad I stayed in, was tempted yesterday to throw in the towel.......

Don't be too earger to get off. This one is worth the wait.

This is the best roller-coaster ride in the world!

Hi all

Just managed to top up another lot. Hurry the news !

Good Luck All

Eddie

Lets hope the intraday price gets some support and then picks up again.There is going to be some quick profit taking obviously.
Interested to see what the charts are telling us later , Eddie.
Regards

Hi berlingo

Will look later. I dont down load untill after 6.00. will post after that. Dont trust these charts, they have a habit of changing. Was in at 0.54p again, good chunk, for me.


Kind Regards

Eddie

Good on u Eddie,

You only get one crack at life

Lets hope Desire comes through and gives them twins a good head start in life.

Fingers crossed

Markymar

Thanks Eddie
Just sold some shares in an investment trust to purchase more DES.Just hope , pray , that DES will come good.Portfolio stacked in favour of DES , bit risky but what the hell , its only money.!
At one point DES was 7th highest gainer today!
Cheers All

Hi & thanks markymar.

Good on ya berlingo.

I'm now in at :- 0.1675p, 0.2595p, 0.3370p, 0.5200p, 0.5400p, 0.56.25p, 0.5780p. Average of 0.3977p. Looking forward to the next up hill part of the ride.

Good Luck All

Eddie