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

Risk value = 394!!! Makes no money ...er, except from new issues!!! As I write, todays stats = Buys() 93,244 Sells() 318,412 Share price down 0.91%. Seems I'm not the only one looking down from a great height at DES!!!

Pro as far I am concerned you can stick your risk figures up your arse. I am backing a winner!

Pro,
The latest RNS quoted the size of the prospects identified by the 2D and 3D seismic surveys as being in excess of 2 billion barrels of RECOVERABLE oil. If Desire get $35 a barrel this could mean:

2,000,000,000 X $35 = $70,000,000,000.00

Divided by 220,000,000 shares (after Placing/Open Offer) =

$318.18 divided by 1.80 to convert to sterling = 176.76 a share. Thanks for the calcs Minnows! Even if DES was taken over and got $5 per barrel I'd be very happy.
Whatever the outcome the current share price is indeed "peanuts".

I agree they have got to go and get the stuff first but this share will soon have zero's like fleas and I'm happy with that prospect.

well said jp
i had calculated the possible max worth
along the same lines but was
afraid to post incase people thought
i was mad
notwithstanding all that .45p - 176.00
is a fair spread 5.00 would be good 50 we could all
retire ( getting a bit carried away now )
as for a dog with fleas drown the dog and the fleas go away
the dog and fleas poster is the mad one

regards HUSTLER

Hustler
Obviously the calcs are very rough and ready and do not take into account production costs, tax etc, but even so, you get the drift! DES is a winner in the wings waiting to happen.
regards

nice posting today..... what is clear is the potential becomes apparent when the calculation is done and that is why we are all posting and fighting the DES corner. Time will tell, thats why we are all in and holding. IMO after the placing has taken place and the dust has settled more calculations will be done by more buyers..

watcher

Hi all

Well we didn't get the bounce today. The market has tested the support level again though. The candle that came out on Friday closed at 0.5275p. If you look at todays close it was at 0.5275p. Also look where the candles are sitting, they are on top of the 10 day moving average. They have not been on top of this average for 20 days. The candles are just below the 20 day moving average. The market has been testing this level for the last three days. Chances are then the bounce may come tomorrow. If you draw a line from the bottom of shaddow on Thursdays candle to the bottom of todays candle. This will give you the short trend, which like the main trend is up !





Lots of positive postings today !

Good Luck All

Eddie

Hi All first post here. Gaelic/DES holder for more than 12 years. Post on iii and advfn. Markymar reccomended I listen in here as iii has so much rubbish on at the moment. My latest post was some light relief..... so from iii board.... Reference is to the EGM at Seymour P. Queen Victoria Street.


some might find this interesting. I traveled to school along QVst in the 50s and early 60s. It runs from the Mansion House to Blackfriars Bridge.

I used to play on the ruins of the buildings lying between St Pauls and the river the famous Blitz photo of St Pauls standing out from the smoke and flames. We found quite a few treasures under the rubble. Im hoping our treasures will come from Seymour P.

From the top of a bus I watched them being rebuilt, and the discovery and excavation of the temple of Mithras - Any and every prayer to see DES succeed greatly appreciated!

Sir Thomas Moore used to walk down the city end of the street to go to church. He was a man willing to die for what he believed - A good example for all DES holders

The College of Arms is on the North side of the street towards Blackfriars they are more than happy to draw up a personal coat of arms for all successful DES holders - Quartered with an oil rig, gusher, barrel and Phipps with Penguins Rampant purchasing the rights to be Lord of the Manor is quite easy!

I watched as Sir Bernard Miles saw his vision for a theatre in the city, - The Mermaid - being completed. one of my children took part in some shows. The original theatre, Blackfriars Theatre, was built on the site of the original monastery estate. Shakespeare wrote and Babbage, the Olivier of his day, owned the site and acted there. What a Drama is being acted out this year, will it be a full house or a flop?

The Blackfriars were the Dominicans sometimes called the Popes Dogs of War and hated in the late middle ages for being the enforcers of church discipline. I am quite sure that politics is involved with NFB and so not too much fuss about finding riches there - it will upset the neighbours!

The Divorce hearing of Catherine of Aragon and Henry VIII was held in the Monastery. How to spend money is a major cause of marital disharmony! Lets keep the fairer sex ignorant of how well we do. Harmony is in their best interest after all . Isnt it?

Opposite Blackfriars is a good pub behind which are some narrow streets. Here Shakespeare purchased and extended a house as a safe house for his fellow Catholics the al-Qaeda of his day. The original house is gone but the layout of the streets is largely the same Ireland Yard which Shakerspeare overlooked is still there. DES holders will be able to pull down their daub and wattle shacks and build houses of brick and stone in the grand open lands of Essex,.

Shakespeares acquaintance the Earl of Essex, the queens favourite, lost his head after specifically asking for a performance of Richard II against the wishes of Good Queen Bess it shows the deposition of a king and played the night before his attempt to take the throne. He was so vain and took so long making himself look smart that when he marched along the route towards Westminster he was blocked by the London Militia he panicked and fled - Des Holders, dont lose your head, dont be so vain as to think you know more than you do,s wait until events unfold waiting is so hard to do!

I used to row with the sea scouts an old Navy whaler from Blackfriars bridge. We were evicted when they discovered some Roman docks and a ship while building the new underpass to Westminster- more great underwater discoveries to come

Finally, it was under Blackfriars bridge that the Italian Banker, Calvi, was found hanged In the event of our investments not producing as we hope, not a good idea to follow his example hanging can seriously damage your health after all its only money!.

However I hope we will be up the other end of QVS where we will have our own Mansion House and host a great Spivs bash.


My kids would long ago been shouting O shut up dad boorrrrrrriinnngggg!

Regards to all

(BusterDid on iii)

Hi jades101

Very nice read for this morning.

Kind Regards

Eddie

Good to have you on board jades

http://www.falkland-malvinas.com/Detalle.asp?NUM=5135


Rockhopper and Desire agree farm-in understanding A spokesperson for Rockhopper said it is anticipated that the drilling programme will begin, ...within about a year."
As a result of its planning contributions to Desire's exploration costs, Rockhopper will earn an interest in the licences of 7.5%, with an option to increase that stake by up to a further 7.5% by October 2005.
Pierre Jungels, Executive Chairman of Rockhopper, commented, "This agreement will enable us to accelerate our exposure to drilling opportunities in the North Falkland Basin and broaden our portfolio significantly.
We look forward to working closely with Desire as we move towards the drilling programme itself."
He continued, "This farm-in agreement is another step, further to our recent licence awards, in creating an exploration play covering substantial parts of the North Falkland Basin.
"In addition, we continue to pursue other ways of building our portfolio by accessing further acreage both through negotiation with other licence holders and applications to the relevant authorities."
Meanwhile, Desire Petroleum announced this week it will be raising more than 25 million to fund the three well drilling programme in tranches C and D.
They will do this via a placing and open offer. Details on page 8.
Also this week, Falkland Oil and Gas Ltd (FOGL) announced it has completed recording approximately 50% of the planned 10,500 km 2D seismic survey in its 83,000 sq km licence areas to the south and east of the Falkland Islands. 90% of the survey to date has been in the southern 33,000 sq km licence area where FOGL (77.5%) is in joint venture with Hardman Resources Ltd (22.5%).
The balance of the survey to date has been in the northern licence area where FOGL holds 100% and this is the area that will be the focus of operations in March and April.
The fully processed and interpreted results of the entire survey are expected to begin to be available about mid year.
Dr Armstrong, Executive Chairman of FOGL, commented: Although it is early days, the overall indications from the data we have received to date are encouraging.
We are looking forward to completing the balance of the survey and in due course fully assessing the results of this work.

Hi markymar

Thanks for the posting.

Just looking through my 1 for 8 offer. Which I will be taking up. Just have to sell some other stock.

(ok sold stock now I'm ready)

Kind Regards

Eddie

Hi All
Strange day today , not many trades , i think most were buys , Eddie ? Good to end the day up , positive for Monday! I shall be logging in from Canada next week , dont want to miss a thing at mo. Keep up the posts Eddie , Marky , et al.
Oh and i am deffo applying for more shares in that offer as i just sold some old trust shares i had. What great timing !! Hope we get all our allocation
Good luck
Berlingo

Hi berlingo

Will do !

We will all get our allocation, it's just additional shares that are not guarenteed.

Have a great time !

Will post later.

Kind Regards

Eddie

Hi all

It may not seem it but DES is up +8.16% = 0.04p The fall from the top of the doji candle to the bottom line was -27.94% = 0.19p. So the loss has narrowed to 0.15p which is -22.06%. When you think of this in terms how far DES is going to go up ! Well need I say more !

Althogh as said by (berlingo), it was a strange day today not much volume. But wat is important is DES finnished up. This means the support has been tested again. This will give us a fresh start to next week. Most investors will have received their fund raising documents. As far as I'm concerned this should boost DES. Only the share holders will get the option to buy the 1 for 8. So there isn't much point in DES hanging about this price for much longer. The paper work & payment has to be in by the first of march. So if you think about it DES isn't likley to go down for people to buy lower. So once the bulls decide they can't buy any cheaper, they will see the bears off !! DES will look much better then ! We could see DES right back at the top of the hill again. DES has gone up by +33.0% in one day, on more than occasion, this has been after small volume days like today. Lets hope the bears are out & the bulls come in with force on Monday. Might even see 100p before the EGM. Could just be wishfull thinking, but possible !



Have a great time berlingo.

You wouldn't be giong near Encan or Talismans offices would you ?


Good Luck All

Eddie

Hi Eddie
Thanks , i am looking forward to the trip. Funny you mention about Encana cos i am in Calgary next week for a few days and on Wed 23 they are releasing their 4th qtr and year end results.They say the news release will provide consolidated 4th qtr and year end operating info ! I will certainly be looking in all the Canadian papers early next week to see if there is any talk of any imminent annoucements from them re future projects.
I will post if i read anything interesting.
All the best
Berlingo

Hi all,

I see we had a little drop in the price and there was nearly 225,000 more buys, them hungry market makers, well at least they did not make much on the spread.

Eddie whats the graph say

My crystall ball tells me i can get my new Ranger Rover this year.

Regards all

Markymar

Hi all

Markymar.

Was at a meeting till 9:30.

Yes well you summed it up Markymar. The MM's have been involved again. It's clear there were more buys than sells today. DES is still holding the support level, the short term & long term trends are still up. MM's will be running out of time soon, the buys will then be reflected properly on the charts. The 10 day moving average is gettiing closer to the 20 DMA. When they cross over we will be seeing blue candles & a better up trend.





Good Luck All

Eddie

Marky

any idea whats happened to JPDM? why is he keeping a low profile? would also be nice to hear from Assagi and Honkers.

Ming

ps Can i borrow your crystal ball

Ming,

Colin Phipps is the one who has pushed for the drilling to start this year and that it will and other future partners will follow.

Multi holes multi partners

Get the EGM out the way and we can move forward.

Regards

Markymar

Hi all

Markymar, Mingbeaver

Well the MM's have been at it again. I dont see this can continue for much longer, as we get closer to the EGM DES will have to be up off this level. If DES was at 0.45p by the time of the EGM, the shareholders would not see the offer as being worth while. The chart is showiing the main trend & short term trends are still up. The 1-8 offer is currently up by 13.33%, so it is still at discount.




Berlingo hope your having a nice time !


Good Luck All

Eddie