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

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

Cheers eddie for charts

It must be one of the hardest charts to follow mate

eddie

i suspect (and hope) some time very soon your charts will be overtaken by the release of THE rns.I agree that now is a great time for the final top up.We will all need you to work closely with us after the news in order to take some profit at or near the peak.Please continue the good work.

all the best, ming

Well my short seems to have paid dividends now, down to 49/51 so my 48p is only a tick or two away. Very easy and predictable trade. What many failed to realise is that DES could not release any more news during the fund raising period without breaking the Conduct rules. Will happily close out and go long at that 48p.

Travis what do you mean breaking conduct rules?

I think the Desire camp are playing this very much down as on page one the say 1 billion barrels and you go to page 13 and they tell you over 2 billion recoverable oil and CP still has all the aces up his sleeve to play yet.

Had a chat with Derek Willams of WTE the other day and was very pleased with my chat i had with him.

Regards

Markymar

Travis, I am surprised DES fell back this far, well done for taking a view and making some profit but my view on Desire is that we haven't come to the attention of the media yet and when we do the 2 billion recoverable barrels in a safe area and near thirsty markets is going to look impressive and will probably start an overhyped bull run all the way up to the first drill.

Desire had potential a few months ago but no money and no partner. Now owing to the high price of oil and a promising 3D survey it has become easy to raise some money through a placing. So now Desire has some money and a partner (admittedly a small one at present). This is a great position to be in and even if we don't get more news soon regarding another farm-in partner then I think the market is going to start to catch up with it's potential. There can't be many people left now selling some of their holding to pay for the cheaper shares.

Guys, I am in DES for quite a while now and intend to hold. I want to buy back in but I am unsure how the 8:1 works, I am trading online and not exactly sure how to go about the 8:1 purchase of shares.........any help would be gratefully appreciated

Your online trading co. should have e-mailed you re the deal. If not i think you should phone them as the dead line is 4th March 2005!

Hampi it should of come through the post by now who are you with?

Get on the phone to them as oily said

Regards

Markymar