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

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

Thanks guys, will do

Hi all

Hi Mingbeaver.

There is a lot more up side to DES than the recent down side. The recent down side has been created by the MM's. When the RNS comes through or even before then, DES should be looking stronger. It will only make sence for DES to be at a higher price before the EGM, otherwise the 0.45p would not seem so good. The recent retracement may be lets say -25%. This looks quite a lot on the chart, but if you think back DES has on more than one occasion gone up by +33% in just one day. It might be fair to say you should have got out at the top. But if the major farm in partners had been announced along the retracement, you may well have been out of pocket anyway. This could have been a risky play. The only real resistance is at the doji. But this shouldn't cause any problems. After the price goes through this resistance, we will have a break out. The doji should then become the new support. So think about it DES could move +33% in one day. The doji is about -25% away.




Thanks to the other posters !


Good Luck All

Eddie

Hi all

The candles on the chart have changed over night again. The candle is now a doji. (although not perfect if the open is higher than yesterdays low this could be a morning star doji). This could be the turning point, also the 10 DMA looks set to come up through the 20 DMA. Lets hope we are seeing a reversal !


Good Luck All

Eddie

Its all blue Eddie good call so far!

Since 11 November 2004 (not counting todays trades), DES has the following Buy-Sell totals:

Buy: 27,214,426

Sell: 28,080,095


That makes a deficit (hello!!) of 865,669

A dog with fleas indeed!

Markymar & Eddie
Nice to see some blue! Apart from the odd penny or so up and down over the next week or so, I think we have reached the point where the only real movement is up. In a fortnights time, it will be strongly up.
Keep up the good work. I must say that your stats and charts make far more interesting reading than Pro's. Perhaps Pro can come back in a couple of months time with figures...

Seems to be holding with the aid of the oil price so have closed my short at 50.5p for a very nice profit. Will go long sometime but happy to sit tight, better bargains out there today.

Pro

Why the interest if such a dog?

Watch out it may get a couple of major fleas to join the flea it has at moment early days, with over 2 billion barrels of recoverable oil and high oil price the fleas will jump on board.

Regards

Markymar

Eddie,
Looking forward to your charts tonight! It looks as though we'll hold the blue today. It is perhaps a little premature to get too bullish but lets hope we're over the worst. Each day that passes increases the upward potential now. It will be a relief to get the next week out of the way and then a combination of EGM anticipation and investors snapping up shares in the low 50's should really start the upward trend. If the Open offer is oversubscribed,which I think it probably will be, and there is significant scaling back of excess shares, then demand for shares is likely to be high on the day of the placing.
Minnows posted an interesting question today on iiia long the lines of "Will DES share price treble again as it did following the last placing?"
It would be very nice to see this repeated!

JP

I for one would be bitterly disappointed if this year only saw des triple

There will be an eight fold lift on todays prices before year end i'm sure.

When CP places the next part of the jigsaw on the table (anytime) we will be well on our way.

As the drilling begins greed and averice take over and the sp will move at the speed of light.

beaver

Mingbeaver
Thanks for that! Yes you are quite right, an 8 fold increase is not unrealistic by the year end. Fantastic thought that isn't it? I was thinking more short-term when I typed. 300% just to get us going like...!
As you say when the next few pieces of the jigsaw are revealed, and this could be anytime, the share price will soar! Perhaps we'll get something substantive from the EGM, the day before the placing. That would set this share alight.
This is surely the most exciting time in this shares history and happily I'm on board and have been since last year.
All the best.

Remember the last drilling campaign and the way des disappointed many investors, well, rest assured CP has learned a lot since then, he is a shrewd and forward thinking man. Then consider the above, together with the average age of the board and you realise this is now last chance saloon for des. It is with this in mind that I believe the 148 issue is a thank you to the long investors in des. I am certain that the sp at current levels or similar will be history and never seen again, in the not so distant future(Probably days not weeks). Imagine the atmosphere at the egm if news is released on or before this date.

Game on

mb

MB, Personally I feel that the chances of news being released on or around the EGM date are very high. We could well have a firestorm on our hands if this is the case and I shall enjoy every minute of it.
As you say, Game On!

Are any of you going to the EGM i cant as far to far away.