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

Anyone taking the offer up?

("Desire")

The Board of Desire is pleased to report that they have been advised by Fugro
Geoteam A/S, the company which is to be contracted to conduct a 3D seismic
survey for Desire, that the seismic vessel: "Geo Pacific", is expected to
commence the 3D seismic survey over Tranches C and D in the North Falkland Basin
before the end of January 2004.

The weather in the South Atlantic is currently good (it is mid-summer there),
which should enhance both the rate of data acquisition and data quality.

The survey has been designed to refine the definition of what are currently
considered to be the three largest, potentially-oil-bearing, prospects in the
North Falkland Basin.

The Board will keep shareholders informed of developments as the survey
progresses.

For information contact:

Dr Colin B. Phipps: 020 7409 2138
Dr Ian Duncan: 01684 568415


This information is provided by RNS
The company news service from the London Stock Exchange

Desire grows

Thursday January 8, 2004
The Guardian

Brace yourself for more rumours from the south Atlantic. Desire Petroleum, a spivs' favourite oil exploration play, is returning to the Falklands. It will start a fresh 3D seismic survey of two potential fields at the end of the month.
In autumn 1998, Desire was part of a consortium including Shell, Lasmo and Scandinavia's Sodra Petroleum that dispatched a semi-submersible oil rig to the north Falklands basin to drill a number of exploratory wells.

The drilling caused a sensation on the islands and led to wild rumours that the rig had been seen flaring offshore - in fact it was more than 100 miles from the coast - and oil-soaked penguins had been washed up onshore.

In the end, the results were inconclusive. But during a trip to the islands organised by Sodra for analysts and journalists - this reporter included - drilling results were seen that showed perfect oil-bearing sands. Crew in the area also reported coming across vast quantities of gas while drilling.

At the time, developing the Falklands was only seen as an economic option with oil above $15 a barrel. Brent crude is now twice that. Desire shares closed yesterday up 1.5p at 11.5p

http://www.desireplc.co.uk/maps/prospect-summary.jpg

More trades in last couple of days than there has been for years! As a long term holder DES has been quite depressing at times, but tings look like they are finally getting going. Everybody knows the field is vast, its just a question of getting the oil out!

up again today ,things really looking good for this share in 2004 so much to look forward to and the upside is massive

21.01.2004
Desire Gears Up For Falkland Islands 3D Shoot
This weekend will see Fugro Geoteams seismic vessel, the Geo Pacific, start work on an 800 sq km 3D seismic survey in the waters off the Falkland Islands for AIM-listed Desire Petroleum. The boat arrived from southern Argentina earlier this week and will shoot 3D seismic over the companys C, D and F tranches in the North Falkland Basin.

The shoot will take between fifty and sixty days, depending on the weather, and the interpretation of the results is expected to keep the technical team busy until mid-year.

The purposes of the 3D are two-fold, Dr Colin Phipps of Desire told oilbarrel.com. First, 3D will provide much better definition of the three structures we recognised on the 2D seismic. Second, the partners we have been in discussions with about farming into the acreage are looking for 3D seismic to help them make a decision.

Phipps added that a dramatic fall in the costs of 3D seismic acquisition helped drive the decision to undertake the shoot.

Desire - named after HMS Desire, which discovered the Falkland Islands in 1592 - was formed in 1996 to participate in the first round of licensing offshore the Falkland Islands. The company holds 100 per cent of Tranches C, D, I and L, which cover a total of 3,650 sq km or the equivalent of 13.5 UK North Sea blocks. Desire also holds 12.5 per cent in the Talisman Energy-operated Tranche F.

The team remains committed to the Falklands, despite the disappointment of drilling in 1998 when high hopes of major oil strikes faltered on the reality of the drillbit. Yet although the pre-drill hype failed to materialise into commercial discoveries, five out of the six wells sunk during the initial drilling season recorded oil or oil and gas shows and established the presence of one of the richest source rocks, the lacustrine, in the world.

The company believes the thick source rock has acted as a basin-wide seal, preventing the migration of oil to the sandstone reservoirs above, which were the target of the 1998 drilling campaign. Only one well penetrated any depth below the source rock: it failed to encounter hydrocarbons because, says Desire, it was drilled in the centre of the Basin, farthest from a potential sand source.

Desire believes Tranches C and D straddle the main oil-generating kitchen in the North Falkland Basin and has identified three structures with the potential to hold up to one billion barrels of oil.

We have become more optimistic about the region since the wells were drilled, said Phipps. The three structures on the 2D are very large with the potential to hold one billion barrels.

With the structures hopefully refined and enhanced through the addition of 3D data, the company hopes to attract partners before embarking on further wildcat drilling, possibly during the Austral summer of 2004-5. To support it during this exploration phase, the company initiated a fundraising exercise designed to generate 7 million through a placing and open offer, underwritten by Seymour Pierce. The offer is due to close today.

Desire Petroleum PLC
21 January 2004



Desire Petroleum plc

('Desire' or 'the Company')

Results of the Open Offer

On 24 December 2003, the Board of the Company announced the terms of a placing
of 35,313,100 new ordinary shares of 1p each in the Company ('New Ordinary
Shares') at 10p per share and an open offer of up to 37,500,184 New Ordinary
Shares at 10p per share, on the basis of 1 New Ordinary Share for every existing
ordinary share of 1p each in the Company ('Existing Ordinary Shares'), to raise
in aggregate up to approximately 6.97 million (after expenses).

The Directors intend that the net proceeds of the placing and the open offer
will:

a. enable the Company to enter into a seismic survey agreement to engage Fugro
Geoteam A/S ('Fugro') to carry out a 3D seismic survey in the North Falkland
Basin and funds will also be used to pay for the interpretation of
the 3D seismic data collected by Fugro;

b. repay an outstanding loan in the sum of 100,000 plus interest to Phipps and
Company Limited;

c. pay certain deferred fees to each of Phipps and Company Limited (partly in
respect of Directors' fees owed to Stephen Phipps), Molard Financial
Management Services SA (in respect of the services of Walter Ian Logan
Forrest), Dr Alan John Martin, Dr Ian Gordon Duncan and QM Marketing Limited
(in respect of the services of Dr David Quick). These deferred fees total
396,560 (plus VAT where applicable) in aggregate. However, certain of the
aforementioned persons have agreed to subscribe for 4,015,600 New Ordinary
Shares in aggregate which, at the Issue Price, represents an aggregate cash
subscription of 401,560.

The balance of the funds raised from the Placing and the Open Offer will be used
as additional

working capital.

The Board of the Company is pleased to announce that by 3.00 p.m. on 20 January
2004, being the latest time and date for receipt of application forms and
payment in full under the open offer, 14,867,150 New Ordinary Shares offered via
the open offer had been applied for. A further 35,313,100 New Ordinary Shares
have been subscribed for by investors under the placing.

Accordingly, a total of 50,180,250 New Ordinary Shares are to be issued under
the placing and the open offer which, at the issue price of 10p per share,
amounts to approximately 5 million before expenses.

Application has now been made for a total of 50,180,250 New Ordinary Shares to
be admitted to trading on the AIM market of the London Stock Exchange plc.

Dealings in the New Ordinary Shares are expected to commence at 8.00 a.m. on 22
January 2004.

Don't forget FKL (Falklands Island Holdings) they give out the licences and get a kickback from any discoveries. Currently static at 1.88 pounds.

regards

Peter

pj what do you mean by kick back do they get a % ?

colin phipps has been a busy man and has done a live brocast to the wallstreetrepoter about desire petroleum and what they are doing and where they might be in a years time its a must to listern to.The link i have for this will be put down below ,press copy on link and on the address bar press clear and paste link in hope it works and if any one can put a clearer link in which works plz do

http://216.239.59.104/search?q=cache:_bvb_nPtgrEJ:www.wallstreetreporter.com/profiles/DesirePetroleum.html+desire+petroleum&hl=en&ie=UTF-8

http://216.239.59.104/search?q=cache:_bvb_nPtgrEJ:www.wallstreetreporter.com/profiles/DesirePetroleum.html+desire+petroleum&hl=en&ie=UTF-8

live interview with chaiman od desire petroleum good listern

Use the "Insert link" button at the bottom of the box when you first make your posting (it doesn't appear if you edit the post later).

http://216.239.59.104/search?q=cache:_bvb_nPtgrEJ:www.wallstreetreporter.com/profiles/DesirePetroleum.html+desire+petroleum&hl=en&ie=UTF-8

Taken from this months Energy supplement in the Aberdeen Press and Journal:-

"Pan American Malvinas manoeure tatalises

As UK-LISTED Desire Petroleum gets under way with its latest seismic survey of
the North Falklands Basin, Pan American Energy has aquired interests in the neighbouring Malvinas Basin offshore Tierra del Fuego - in other words, Argentine waters.
Pan American has picked up 35% interests in blocks 40 and 46 operated by Repsol-YPF. Total, which has a 31% stake in block 46, has apparently ordered a seismic campaign across both blocks (aggregate area 6,500sq km) with a view to exploration drilling starting next year.
The hidden twist to this is that it would put BP in the South Atlantic as it is a 60% stakeholder in Pan American Energy, with Argentinean corporation Bridas holding the balance of ownership.
Whether this campaign can in any way be made to link with Desire's aspirations to restart drilling in Falklands waters is open to question, though it will perhaps be investigated. BP's indirect involvement could prove important in this regard.
The super-major did not participate in the Falklands drilling campaign of 1997-98 as its priorities lay elsewhere at that time. The Tierra del Fuego manoeuvre begs the question as to what BP might do next in the South Atlantic"

In my last post about why the price has gone up there was this little gem in it.

Houston, being the centre of the
American oil industry, did not disappoint, and
contact was made with licensees and companies
already considering investing in the area.

Phipps has all ready said they are off to Dallas on the 18th April to the AAPG convention and do you remeber the interview with the wallstreet reporter in America i could not understand this Americian connection.Then there was this bit from rigzone.

As Desire Petroleum gets under way with its latest seismic survey of the North Falklands Basin, Pan American Energy has acquired interests in the neighboring Malvinas Basin offshore Tierra del Fuego, in other words, Argentine waters.

Pan American has picked up 35% interests in blocks 40 and 46 operated by Repsol-YPF. Total, which has a 31% stake in block 46, has apparently ordered a seismic campaign across both blocks (aggregate area 6,500sq km) with a view to exploration drilling starting next year.

The hidden twist to this is that it would put BP in the South Atlantic as it is a 60% stakeholder in Pan American Energy, with Argentinean corporation Bridas holding the balance of ownership.

Whether this campaign can in any way be made to link with Desire's aspirations to restart drilling in Falklands waters is open to question, though it will perhaps be investigated. BP's indirect involvement could prove important in this regard. The super-major did not participate in the Falklands drilling campaign of 1997-98 as its priorities lay elsewhere at that time. The Tierra del Fuego maneuver begs the question as to what BP might do next in the South Atlantic

So my way of thinking here is that we can rule out Lundin or Talisman for now , but i feel pretty strongly that are new Farm in partner will be Pan American Energy and BP own 60% of them . Now with the Pan working on the Argentina side this would be ideal for us as rigs would be there and the sevices.

Also way back there was meetings with uk and Argentina been trying to find the post but not found it yet but they had discusions about the oil and it was suggested that a pipeline from the Falklands to Argentinia was a posibility but all talk of this pipeline would cost millions so you need a world major oil company hence you have BP .

If there is upto 110 billion barrels of oil then you would then put the likes of the Falklands the 3 rd richest oil provence in the world the likes of kuwait has reseves of 97 billion,Iran have 115 billion and no 1 is the saudis with 236 billion.

So my conclusion of all this is that this share price has just started to move and some more news or rumours will start to come out this share price will rocket there not a share like it you can only dream what this share might do.
Good luck all who hold shares and if you dont hold any buy some its the best ride on a rollercoaster you can have.

r they tree-shaking? i m sticking.

Should bounce back after some profit taking

Shares should still have a massive rerating, news on the full survey soon and if it is the right type of oil (they alrady know it exists!), this share will be multpiles of it's current value!