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 all

Yes berlingo the chart looks much better !

Hi markymar.

Thanks to all posters !


It looks like we have our harami confirmation. The candle is big & blue, volume was not to bad either. I think as luckyswimmer says DES should move up next week. I think today is the last day for the open offer, which only leaves the EGM. We may have some news leak bofore then. Either way DES has started moving up ! The 1 for 8 is up at +18.89% at the moment ! The hype of the EGM should add fuel to the fire !





Oil - Brent flat in volatile pre-weekend trade after Thursday's surge
AFX


LONDON (AFX) - Brent futures were flat after fluctuating in volatile pre-weekend trade, with some fresh buying in the dips interspersed with profit-taking after yesterday's gains, dealers said.

At 5.15 pm, Brent crude futures were up 3 cents at 51.98 after surging almost 2 usd yesterday.

Meanwhile US futures were up 13 cents at 53.70, after climbing over 2 usd/barrel to 55.20 yesterday.

'Fresh buying keeps emerging when prices trade lower, but overall we are still in the midst of a bull run,' said GNI-Man Financial trader Kevin Blemkin.

'Prices overall are now trading in a new higher range, and they could go higher still, after all we are in the same position as yesterday before we hit new record highs,' he added.

US oil prices have steadily increased with speculation and institutional investors flooding the market since Jan 2002, when US prices traded at 20 usd/barrel.

Behind the speculation are concerns that energy 'supplies will not be able to keep pace with rising world demand,' said Fimat analyst Mike Fitzpatrick.

In other words, the market is anticipating a replay of last year's events, when a surge in global oil demand and a series of supply disruptions and refinery glitches caused prices to crescendo.

Yesterday a series of small gasoline refinery problems in Texas caused were one of the factors that caused US gasoline futures to hit a record high of 1.5450 usd/gallon.

'The fear is that surplus stocks could quickly be drawn down if disruptions multiply,' Fitzpatrick noted.

The reaction was what you might expect from a market trading on nerves, said Investec anlayst Brude Evers, adding that the tight supply demand situation looks to continue this year.

'Between June-August North Sea terminals will come off line for maintenance. And August will also see the start of China building up its emergency stockpiles.

'If the fundamentals are tight now, they look to get even tighter still in the second half of the year' Evers said.

As global demand are expected to continue, oil prices will invariably surge higher.

'With no new production in sight, and all these constraints in mind, 60 dollars a barrel for US oil prices is not out of the question. Any supply disruption would drive prices higher. If there is a repeat of last year's disruptions then 60 dollars is also possible for Brent crude,' Evers noted.

raki.kotak@afxnews.com

rak/hjp


Just a little scenario. Lets say DES goes up by 2-3% each day from Monday to Thursday, then on Friday We get a bullish EGM. DES then goes up by 10-15%. DES could well be at +18-27% by the end of the week.


Any thoughts / scenarios ? (Better ones please)

Good Luck All

Eddie

Hi All,

Eddie thank you for putting your head on the block every night and give or take the odd day your right with the charts. I see british bulls have it back at Buy tonight.

Lucky you say news what kind of news and how positive are you of this news you know my email on moneyam.

Belingo your trip was it a holiday , always a place i wanted to go to would be good to hear more about as this time next year might be possible.

Have a good weekend all

Markymar

Hi there's a story about DES and a north Sea rig on www.platts.com anyone got access to it. S. http://www.platts.com

Hi all
Hi Markymar , yes it was a holiday to Canada , Whistler and Banff . The Canadian Rockies are stunning. This is a good time of year to go as it is their low season , so you can get great some great deals ! And as the pound is strong ( i got $2.28 c.dollars to our ) e/thing is a lot cheaper . However i recommend not going in Jan, far too cold . I challenge anyone not to have had a nice hol in Canada. They are so kind and professional !
Regards the Open Offer , how long after the 10th will we be informed if we got our extra shares , and whats to stop a mass sell off of these , especially if the price goes up BEFORE the 10th giving an instant profit to thousands of investors? Just hoping this doesnt create a reverse trend , cos if oversubscribed MM`s should be scrabbling for stock !
Good weekend all
Regards
Berlingo

Hi all,

Thank you for that Belingo and i do hope i get a chance in the near future to go and i do feel that most people have gone for extra shares most people have gone for a bucket load extra and i have myself.I see CP and GRWA and WTE have not taken up there shares and CP a small amount but he has them coming out his ears any way.

My personal thought it will be over subcribed--which is good news for us.

Lucky sorry not replyed as been working and never had time but will talk soon.

Blue Sky Monday

Belingo any skiing ?

Take care all


Markymar

Hi all

The pattern DES has created is the inversed three buddhas (inversed head & shoulders). The three buddhas called the top (the three spikes leading to the top) & now has called the bottom (the three spikes at the bottom). All being well this will give DES a good bull run. (as with any pattern they can stall or fail). But with all the hype at the moment I feel the pattern will be bullish. Lets hope so. DES is looking good !


Good Luck all

Eddie

How do you know WTE,GRWA,have not taken their offers?????

You cannot jump the gun.

good call eddie

GRWA have no money full stop and spoke to Derek Williams and i just felt they were happy with there holding they have at moment and last time they both never took up there share at 10p so i would of thought no to 45p.

Could be wrong but hay thats more shares for me at 45p

Good shout Eddie

marky,

Yes you could be wrong coud`nt you?????????????

Do you know any diffrent eacninewhy , GRWA have no money they sold 250,000 share last week.

marky,

Does`nt take a lot of working out...just simple maths.

Perhaps we will get another RNS later saying...we are now holding over 3%.

Why has the number of BUY trades in DES gone to almost zero 0?????????

Hi All
Hi Marky , yes plenty of skiing in Canada. The views are to die for at the summit and the skiing is great too.Highly recommend a visit.
Hi Eddie , i think the chart should still show the white candle with shadow on the top meaning a good buy ?? Good call this morning Eddie. What about hampi man comments on post 905 , is that right ?
Now DO i top up tom or Wed?? That is the $64000 question ?
Thanks
Berlingo

Hi all,

Its a must for me next year i think if the shares go to the price i think they will Belingo and Hampi i think it is a glitch in the system on moneyam its like if you keep clicking on trades after doing it you get live trade prices all day for free.

A lot more buys to day and the MMs how they brought the price down i dont know i thought today we were going to knock on the door of 60p today and there was a few T trades went through today as well.

Well Eddie lets see what you see ?


Regards all

Markymar

Hi all

Better volume today 2.25m, hope it increases as the week goes on. If you draw a line & link the tops of all three shadows (long thin lines on top of the candles from the top doji to todays) you will see DES has tested the resistance area. I think the resistance will be realitivly weak as it is at the bottom of the chart. The open was 0.535p, high 0.570p, low 0.530p, close 0.545p. This indicates the price stayed above the open but had some resistance round about the line you've drawn, which is only 0.0015p away. So all being well DES will soon pass through the resistance area. Maybe tomorrow.





Good Luck All

Eddie

IF the Open Offer is undersubscribed how much will the price fall if at all as speculation might hold it firm ? Last time i took up an Open offer the price FELL quite rapidly , as the offer was not sold out !
This is the big week . Has DES raised money like this before ? Bit nervous that two directors only have taken a small entitlement to what they could have !
Regards

Hi blingo

If you click on the DES link above (24/12/03) you will see the last time DES raised money. This was for the 3D survey, the share price was at 0.10p at the time. DES has had the backing of the market since then. I don't see any reason for this to change. As you say there is always a chance DES could be under subscribed. But I can't see it. With all that potential oil already identified, drilling has to be the next step. I don't know if the last few trades are correct, if they are we may open with a gap up. I hope so as this will be bullish !


Kind Regards

Eddie

Thanks Eddie

Hi all

Hope these turn out to be right.

Prices as of this time. mid 0.5550p, + 0.01p, up 1.83%, bid 0.5400p, offer 0.5700p, close 0.5450p

Bummer it's changed back to 0.00% change as I was typing. Lets hope we get a good day any way !


Good Luck All

Eddie