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 guys
Berlingo here in Canada(Banff)
hi Eddie , Markymar and regulars
Good to see DES holding well last week and finishing Fri on a high.Well done Eddie on your predictions last week,proved right yet again.Interesting posts from Marky too.Thanks.
Nothing much to report from my end.I kept a close eye on EnCana this week who published record profits last Wed of 2.5billion.However one paper the Globe and Mail here wrote a big article about poss future projects and it was stated that EnCana are currently involved in exploring new territories ! We shall see!Just watched the Oscars here,everone patting themselves on the back , lets hope we will be doing the same soon!
I am back on Wed so keep up the fine postings Eddie,Marky and everyone
Speak to you soon
Regards
Berlingo

Hi all

Great to hear from you berlingo !

Thanks to all the poster !

As of this time the quote for DES is mid @ 0.5275p bid @ 0.515p offer @ 0.54p. Looks like were off to a good start.


Good Luck All

Eddie

Hi Berlingo,

Hope your well and look forward to your input when you get back,Dont bring me a to big a present back i dont want you spending to much.

Take care mate

Markymar

http://www.journalpioneer.com/news.aspx?storyID=30184

Canada link again, just for you Capt

Falkland Islanders are also trying to boost offshore oil exploration and are attempting to put the building blocks in place for a prosperous aquaculture industry.

Regards

Markymar

http://www.guardian.co.uk/oil/story/0,11319,1424985,00.html


Oil price to stay this year between $40 to $50 a barrel , looking good

Regards

Markymar

Hi all

Thanks markymar

Well we have had a rise of 1.44%. We have also had a price up gap. Although DES wasn't able to hold onto the high of the day, DES finished up. If we look at the indices, most were down or marginal gains. So all in all we have done well. DES is also back on top of the 10 & 20 day moving average which is also a good indicator. DES is still in a good position for more gains as the gap up should offer support. Stochastics have just crossed also. (The candles have given the start of an evening star doji, which could indicate a trend reversal) I don't think the trend has been long enough for reversal. But tomorrow will tell.



Good Luck All

Eddie

Cheers Eddie on British Bulls they have a hold so we will have to wait and see, there was some big buys today and some sells and a few rollovers but as said before get this EGM out the way and i think certain question will be asked at EGM might just clear the air.

There are a lot of question need to be answered and i hope we get some decent answers.

Regards all

Markymar

Hi all

Yes markymar.

A lot going on, the upside to DES looks more interesting than the down side. ie Risk vs rewards. The trend has just changed to up this is what makes me think it will continue. But we must still see the doji as a (potential) reversal. Any reversal will only be to test the 0.50p level again. So if you look at the 0.50p as support, any reversal should stop at that level. Lets look up to the top doji, that is the short to medium term target. I think as we get closer to the EGM, we will be closer to the top doji.


Kind Regards

Eddie

when is the EGM?

hampi-man

Its on the 10th march at 10 am in London it should be on your proxy form

Regards

Markymar

cheers for that

Hi all

markymar / hampi_man

Well it looks like the doji candle was confirmed today. There were more buys than sells and DES still closed lower. This suggests the MM's have had another go today. As I said yesterday DES may re-visit the 0.50p support before moving up. The open was 0.53p, high 0.535p, low 0.51p, close 0.51p. The collective trading volume was 1.842m. The main trend is still up and support should be at 0.50p. Lets see what tomorrow brings, a bullish blue candle I hope.

Thank you for that Eddie for that over 200,000 more Buys and the prie went down on http://www.britishbulls.com/StockPage.asp?CompanyTicker=DES&MarketTicker=RESOURCES&Typ=S they now have down for a sell.

Just looking around the boards tonight and seems to be a lot of debate as to where the share price is going in the short term and that is pretty irrelevant at the moment what you have to look at is what Desire are sitting on and yes we are going back in drilling this year and you have your answer.

Filled out all forms to day and put in for extra and am very positive for the future of Desire Petroleum and my new Range Rover and tinted Glass and the Reg plate DE51RE


Regards all

Markymar

Hi markymar

Yes that is correct. But this is a computer generated sell. The system doesn't take into account surrounding factors, ie tomorrows US inventories report. Which is says oil is expected to stay at 40-50 usd/barrel. The system doesn't take into account the support level ie risk vs rewards. I think if the doji and the bearish confirmation had come after a medium to long up trend, I would also agree. We also have the placing at 0.45p. To sell here could be risky. The british bulls, I must add have had lots of good calls. But I would think if news was to break tomorrow, you may have to buy back at a higher price.

I have bought all my 1 for 8 and added them to my portfolio. They are up 13.33% . So I'm also very positive !


Any thoughts ?

Good Luck All

Eddie

good call eddie forget british bull site
should be renamed british bullshit
it's obvious, the price at present represents
a premium of just over 10% to the offer price
not that exciting but a premium anyway if price holds,
get the funding out of the way and the board
better come up with the positive news they have been
promising after all they say the 8/1 issue is to reward
long term investors.
book your range rover marky like the reg
but don't buy one 3 years old 51
05 - 55 - or - 06 not as sexy as DE51RE
can't think of of a good reg to compare at present
but what the hell buy a dozen and mix the reg up
HOT 1 perhaps
all the best

HUSTLER

Hustler, did you buy that reg, if not then I know who did and it is for sale!

Markymar
I agree with you, there do seem to be a lot of posters around speculating and even encouraging the price to drop below 50p. Not quite sure what their agenda is to be honest. Maybe they have already sold their offer allocation and are doing their best to talk the price down and then buy back or perhaps they are recent investors and are coming to incorrect conclusions. A bit of both I expect. Like the expert posters, for whom I have great respect, I expect 50p to be the support.
Whatever anyones thoughts are, the offer period is coming to its end and there is only a week left at most for any share price instability. Then the share price will be most definitely up! Its good to see your daily comments Eddie as they are based on reality!
As for me, I have applied for all of my allocated shares and some excess. All I can do now is sit back, wait and enjoy!
Nice bullish start to today anyway and up 1.5%!
Best wishes all.

There is a lady up my part of the world with a porche 911 with the number plate 53XY and i cant turn that 3 round the other way but looks good.

The bulls have it Eddie. Blue sky

Welcome back Belingo

Regards

Markymar

Hi chaps,
Is that a nice saw tooth pattern with higher lows. I'm no chartist but isn't that good.
Unfortunately the buy/sell ratios over the last couple of days have no bearing on the share price movements, so i'm not sure if we can read too much into the charts, especially as in 8 days there will be 55 million more shares in issue and the good ship DESIRE (and her merry crew of spivs)will be in uncharted waters.
I wonder what the atmosphere at the EGM will be like?