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

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?

wow, have you seen the size of the two recent big sells?

Hi Everyone,
Arrived back today to see it snowing! Canada has had none in the last three weeks , unbelievable!
Sorry didnt bring you back a prezzy Marky , money all gone on the 8 to 1 offer!!! Well thats my excuse anyway.
What do we think of Greenwich Resources selling out and just before the EGM ? Share down a fraction today , still holding well in my opinion.
Hi Eddie , what does today charts show. Should make interesting reading?
Regards
Berlingo

Hi all

Welcome home berlingo !

Well after todays trading I'm supprised the close wasn't lower. Some big sells went through. I think this was just jitters about the invetory data. Looks like oil prices are likley to stay high.


Oil futures higher after US inventory data
AFX


LONDON (AFX) - Oil prices briefly hit four-month highs following the release of US government inventory data which revealed that already low distillate stockpiles had taken a battering, dealers said.

At 4.58 pm, Brent crude futures for April delivery were up 24 cents at 50.35 usd/barrel, off a high of 50.80 last reached in November.

Meanwhile, the US benchmark April-dated contracts were up 27 cents at 51.95 usd/barrel, off a high of 52.40 last reached in November.

The Department of Energy reported US distillate inventories for the week ending 25 Feb were down 1.8 mln barrels. Heating oil stocks, which are included in the total distillate figure were down 900,000 barrels to 40.2 mln barrels.

However, crude stockpiles rose 2.4 mln barrels. Gasoline stocks were also higher by 1 mln barrels.

Industry data provided by the American Petroleum Institute was delayed slightly, but dealers said they were not perturbed as most refer to the government data.

The API reported distillate supplies had fallen by 1.4 mln barrels, a similar fall to the DoE.

The API also reported crude supplies had risen, but measured a higher level at 3.3 mln barrels.

However they disagreed with the DoE and reported a fall in gasoline stockpiles of 3.9 mln barrels.

'The fall in distillate supplies were no surprise, as it is still very cold in the US,' said Investec analyst Bruce Evers.

The US National Weather Service said it expects domestic heating oil requirements to be 14 pct higher than the norm this week, with the hike in demand is due to severe winter weather.

Overall the market is still very nervous and volatile, and is coming to terms with prices in a new higher trading range, he said referring to comments by Saudi Arabia's oil minister Ali al-Naimi last week.

'Naimi saying that (US) oil prices in the 40-50 dollars a barrel range is realistic.

'OPEC will struggle to cope with demand in the fourth quarter this year, and the Chinese stockpiling will begin in August, so its hard to see prices coming back down below 40 usd a barrel,' Evers said.

OPEC ministers are due to meet in Iran on 16 March to discuss forward policy.

OPEC, which supplies 40 pct of global crude needs, has also said it is keeping a very close eye on inventory levels.

'If OECD stockpiles go over 52 days of forward supply, and certainly if they reach 56 days then OPEC may go back to examining cutting its output,' all of which adds to a highly volatile market which is still in its bull run, Evers said.

raki.kotak@afxnews.com

rak/jfr

The chart for today, shows todays close just on top of last Thursdays blue candle. There was a gap up in this area between Thursday and Fridays candles. Althogh this was not a big gap it should still count as support (0.5075p). The candle we have shows indecision in the market, as I said before this was probably jitters ahead of the US inventory data. Also I think Greenwich Resources selling its holdings may have spooked the market. Going back to the 21/01/05 Greenwhich Resources announced losses of 224,000 stg agianst 171,000 a year earlier. They may be having cash problems. As I have said the support should be about 0.50p, the main trend is up. Des is still looking good !





Talisman Energy FY production grows strongly, balance sheet strong
AFX


LONDON (AFX) - Talisman Energy Inc said its results for 2004 show continuing strong growth in proved reserves and production, a sixth consecutive year of record cash flow and cash flow per share and a very strong balance sheet.

Cash flow increased 7 pct to 2.9 bln usd.

Net income was down in 2004, reflecting the sale of Talisman's Sudan assets and a number of tax changes in 2003. Total net income in 2004 was 663 mln usd compared with 1.01 bln usd a year earlier.

Production averaged 438,000 boe/d, an increase of 10 pct over 2003, setting a new record for production per share. Talisman grew its natural gas production by 16 pct to 1,259 mmcf/d. Oil and liquids production increased by 5 pct to 228,434 bbls/d.

2005 promises to be better still, said Dr Jim Buckee, president and chief executive officer.

He said world oil demand continues to press upwards against a limited amount of surplus capacity and prices may have to go higher yet to restrain consumption.

newsdesk@afxnews.com

slm/



Good Luck All

Eddie

Welcome back Belingo and thank you Eddie for the chart

GRWA free agents and have know money and i wonder if westmount have done the same and buy back at 45p.

Good luck to both GRWA and Westmount as they have been Spivs from the start and why should they not take a profit.

Now for my seat on that roller coaster

Markymar