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

marky

personally i see rockhopper as a "shell" (possible pun intended) for a larger oil company to reverse into.

Any thoughts??

beaver

i get this feeling that THE news will be out before very much longer

Ming I think it is possible that Rockhopper are especially when you have the likes of Dr Pierre Jungels CBE on board as the front man and Mr Visick millions and a very good business man indeed he is.

ming,
I believe rockhopper are the key to all this, and I have been thinking along the same lines as you for some time now. Rockhopper is effectively a 'shell' company with an oil man and a rich business man who have a pretty good farm-in deal in place for the NFB and have some of their own acreage enveloping DES's I&L Tranches. MAybe the fabled and much touted Encana will be joining the party through them.
Now DES have raised their funds and given their shareholder a chance to buy more at a discount and everything is in place. I am hoping the magicians screen will be pulled aside and we will see Rockhopper for who they really are and then the market can react accordingly to sudden twist.

About Rockhopper.....we know who the directors are.....but do we know who the shareholders are? As far as I can see, the company name was changed in late 2004 and I am guessing that there are no recent report and accounts available since.

I wonder whether Encaca are a shareholder?

Am sure just like you John that there is more from Rockhopper to come and more to do with this OHM to come. We may get a few more answer tomorrow i hope.

Hi all

Thanks to all the posters.

Well DES has managed to move & close above the 0.56p resistance area. This is a good sign as it means the buyers are expecting good news. The sellers may have just taken their money just incase the fund raising isn't over subscribed. The candles have been in a short term up trend since the inverted three Buddhas. Volume was better today at 2.223m. I think tomorrow & Friday we will see greater volume. The highest recent volume was 18m, not sure if we'll see that again. The open 0.5550p, high 0.5850p, low 0.5550p, close 0.5700p. The candle has a shadow on the top, I think this is just jitters ahead of the EGM. Lets hope we get good news !





DES is only -0.11p (-16.18%) from the top doji. With a positive EGM & higher volume DES could well be back at the top soon.

(Tomorrow / Friday. I hope)


Good Luck All

Eddie

Thanks for that Eddie, there was over a million more buys again to day and the price rose a fraction very strange.

I rang Capita today to find how the rights issue went they confirmed my shares but not for the extra ones is was like pulling teeth, they thought Thursday or early Friday we should know how it went. I will have another crack again on thursday.

Regards

Markymar

Hi markymar

Yes the money has gone out of my bank for my shares. I didn't apply for additional shares, I think it will be over subscribed & had topped up in the 0.57 area. All the charts (Renko, Kagi, Point & figure, Three line break, candles) are all looking good. The 10 DMA has just gone up through the 20 DMA & the MACD is on its way up. The next resistance is at about 0.6200p, all being well this shouldn't be a problem. After the high doji we will have a break out to fresh new highs.


Kind Regards

Eddie

Marky. My broker rang Desire up today and spoke to a lady(presumably Anna Neve) She said we would find out at the egm + he rang a MM and he also re-itterated Anna Neve. Hope this helps. Ruddy

RNS Number:5607J
Desire Petroleum PLC
10 March 2005


Desire Petroleum plc

("Desire" or "the Company")

Results of the Open Offer

On 14 February 2005 the Board of Desire announced the terms of a placing of
35,555,556 new ordinary shares of 1p each in the Company ("New Ordinary Shares")
at 45p per share and an open offer of up to 20,335,100 New Ordinary Shares at
45p per share, on the basis of 1 New Ordinary Share for every 8 existing
ordinary shares of 1p each in the Company ("Existing Ordinary Shares"), to raise
in aggregate up to approximately #24.4 million (after expenses). The Board of
Desire is pleased to announce that the open offer has been significantly
over-subscribed.

The Directors intend that the net proceeds of the placing and the open offer
will enable the Company to conduct a three-well exploration drilling programme
on Tranches C and D in the North Falkland Basin.

The Board of the Company is pleased to announce that by 3.00 p.m. on 8 March
2005, being the latest time and date for receipt of application forms and
payment in full under the open offer, in excess of 20,335,100 New Ordinary
Shares offered via the open offer had been applied for. Shareholders will be
advised by the Company's registrars of their allocation of New Ordinary Shares
within the next 7 days. All existing shareholders of the Company who applied for
New Ordinary Shares under the open offer will receive their basic entitlement to
New Ordinary Shares, which is 1 New Ordinary Share for every 8 Existing Ordinary
Shares held at the relevant date. However, where existing shareholders applied
for excess New Ordinary Shares under the open offer using the excess application
facility, the applicant will receive approximately 38.7 per cent. of the excess
applied for.

A further 35,555,556 New Ordinary Shares have been subscribed for by investors
under the placing.

Accordingly, subject to the passing of the resolutions proposed at the Company's
extraordinary general meeting to be held at 10.00 a.m. today, a total of
55,890,656 New Ordinary Shares are to be issued under the placing and the open
offer which, at the issue price of 45p per share, amounts to approximately
#25.15 million before expenses.

Application has been made for a total of 55,890,656 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 11
March 2005.

Hi all

This should pick the price up.

Desire Petroleum PLC
10 March 2005


Desire Petroleum plc

('Desire' or 'the Company')

Results of the Open Offer

On 14 February 2005 the Board of Desire announced the terms of a placing of
35,555,556 new ordinary shares of 1p each in the Company ('New Ordinary Shares')
at 45p per share and an open offer of up to 20,335,100 New Ordinary Shares at
45p per share, on the basis of 1 New Ordinary Share for every 8 existing
ordinary shares of 1p each in the Company ('Existing Ordinary Shares'), to raise
in aggregate up to approximately 24.4 million (after expenses). The Board of
Desire is pleased to announce that the open offer has been significantly
over-subscribed.

The Directors intend that the net proceeds of the placing and the open offer
will enable the Company to conduct a three-well exploration drilling programme
on Tranches C and D in the North Falkland Basin.

The Board of the Company is pleased to announce that by 3.00 p.m. on 8 March
2005, being the latest time and date for receipt of application forms and
payment in full under the open offer, in excess of 20,335,100 New Ordinary
Shares offered via the open offer had been applied for. Shareholders will be
advised by the Company's registrars of their allocation of New Ordinary Shares
within the next 7 days. All existing shareholders of the Company who applied for
New Ordinary Shares under the open offer will receive their basic entitlement to
New Ordinary Shares, which is 1 New Ordinary Share for every 8 Existing Ordinary
Shares held at the relevant date. However, where existing shareholders applied
for excess New Ordinary Shares under the open offer using the excess application
facility, the applicant will receive approximately 38.7 per cent. of the excess
applied for.

A further 35,555,556 New Ordinary Shares have been subscribed for by investors
under the placing.

Accordingly, subject to the passing of the resolutions proposed at the Company's
extraordinary general meeting to be held at 10.00 a.m. today, a total of
55,890,656 New Ordinary Shares are to be issued under the placing and the open
offer which, at the issue price of 45p per share, amounts to approximately
25.15 million before expenses.

Application has been made for a total of 55,890,656 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 11
March 2005.




Desire Petroleum PLC
10 March 2005


Desire Petroleum plc
('Desire' or 'the Company')

Appointment of Chief Executive

The Board of Desire is pleased to announce that Dr. Ian Duncan, currently a
Non-executive Director of the Company, has accepted the post of Chief Executive
with effect from 14th March 2005.

Following the successful fundraising from the Company's Placing and Open Offer,
the results of which were announced today, it is the intention of your Board to
operate a three-well drilling programme in Tranches C and D in the North
Falkland Basin, rig tenders for which have already been sent out. The
co-ordination and control of such an operation, together with liaison with
Rockhopper Exploration (Oil) Limited, which we have agreed terms with, requires
the full-time, hands-on oversight of the Company and Dr. Duncan will fill this
role.

Dr. Duncan, a geologist, has over thirty-years' experience in the oil and gas
industry, previously with Exxon and Clyde Petroleum, and has direct and relevant
experience in the operation of exploration programmes. In addition to the
selection of a suitable drilling rig, he has already begun the process of
selecting suitable consultants and contractors to implement the Company's
drilling programme.

Enquiries:

Colin Phipps, Chairman: 020 7409 2138

Richard Redmayne, Seymour Pierce Limited: 020 7107 8000
Ewan Leggat, Seymour Pierce Limited



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

Beat you to it Eddie

http://www.falklandnews.com/public/story.cfm?get=3150&source=2


March 9, 2005
by J. Brock (FINN)

FINN(COM) DAILY RECORD: TUESDAY, 08 MARCH 2005



Compiled by J. Brock (FINN)

**************************************************************************************



Oil & Gas Journal - Falkland Islands



By OGJ editors



HOUSTON, Feb. 25 -- Desire Petroleum PLC, London, intends to drill three wells starting in about a year on tranches C and D in the North Falkland basin about 100 miles north of the Falkland Islands. Rockhopper Exploration Ltd., Swindon, UK, plans to participate by paying as much as 30% of well costs to earn as much as a 15% interest in the licenses. Desire acquired 804 sq miles of 3D seismic surveys on the licenses last year that showed large structures. Desire also holds 100% interest in tranches I and L closer to the islands. Rockhopper, formerly Crude Oil & Gas Ltd., was awarded PL023 and PL024 in December 2004 covering 4,203 sq km in less than 200 m of water 50 km north of the Islands.

http://www.falkland-malvinas.com/Detalle.asp?NUM=5233

Mercosur
Thursday, 10 March


Oil market remains extremely bullish



Oil prices continued Wednesday their record breaking surge in spite of the United States government reporting the highest commercial inventories in eight months.



A barrel of benchmark Brent crude oil touched 54,06 US dollars in London, (1,96% increase), while in New York the US light crude reached 55,45 US dollars the barrel, (1,57% rise).
Extreme temperatures in the northern hemisphere, the US dollar weakness, solid demand from Far Eastern markets and the coming OPEC meeting in Iran, played a role in the latest sprint with investors switching out of the currency market and into commodities.

A falling greenback also prompted several consumer nations and funds with strong currencies to increase their oil holdings, denominated in dollars, and compete for limited supplies.

The US Energy Administration Office reported that crude stocks rose to 302,6 million barrels, the first time since last July that they toppled the 300 million barrels.

A report from the industry supported American Petroleum Institute showed an even higher rise in stocks, 304,3 million barrels.

The sustained growth of the Chinese economy, expected to expand a further 8/9% this year also influenced fears that demand may outstrip supply in the coming months.

OPEC is scheduled to meet in Iran where a new higher band price is forecasted to be established prompting some analysts to believe the cost of oil may climb even higher possibly close to 100 US dollars the barrel.

Yep markymar you did !

Trading started !

Good Luck All

Eddie

Your right Eddie broker to broker i think we may see a whoosh today.

One MM on 57p and rest on 59p so far and the price marked down at this moment in time0.5% down to early to call

Desire Petroleum PLC
10 March 2005


Desire Petroleum plc
('Desire' or 'the Company')

Appointment of Chief Executive

The Board of Desire is pleased to announce that Dr. Ian Duncan, currently a
Non-executive Director of the Company, has accepted the post of Chief Executive
with effect from 14th March 2005.

Following the successful fundraising from the Company's Placing and Open Offer,
the results of which were announced today, it is the intention of your Board to
operate a three-well drilling programme in Tranches C and D in the North
Falkland Basin, rig tenders for which have already been sent out. The
co-ordination and control of such an operation, together with liaison with
Rockhopper Exploration (Oil) Limited, which we have agreed terms with, requires
the full-time, hands-on oversight of the Company and Dr. Duncan will fill this
role.

Dr. Duncan, a geologist, has over thirty-years' experience in the oil and gas
industry, previously with Exxon and Clyde Petroleum, and has direct and relevant
experience in the operation of exploration programmes. In addition to the
selection of a suitable drilling rig, he has already begun the process of
selecting suitable consultants and contractors to implement the Company's
drilling programme.

Enquiries:

Colin Phipps, Chairman: 020 7409 2138

Richard Redmayne, Seymour Pierce Limited: 020 7107 8000
Ewan Leggat, Seymour Pierce Limited



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

Worth a read on OHM


http://www.oilonline.com/news/features/aog/20050202.All_at_s.17025.asp

Eddie, my thoughts re price for what they are worth:

Basic maths indictates, a real possibility that on Friday when the extra shares hit the market if the bid is above 45p a number of people will sell the new shares and take the profit. Some will take the money and run others buy back in at a lower ask price. Once the panic sets in the shares will be volitile for a week or so then should settle somewhere between 40-50p. Ultimately its all about timing, leaving your money in a share that does not move for 6-9 months will not make you money. Taking 10% profit when its offered will. Obviously this is my opinion I may be right I may not time will tell.

Good luck to us all. Roly Hamster.

A rather warm EGM with a lot of shareholders squeeed into a small room but nevertheless encouraging. It was my first contact with the board and I was impressed with Mr Phipps who was straight forward and clear with his comments. The main points were:

1) A successful placing and open offer means that the 3 well campaign is on but the date is subject to rig availability, probably occuring at the end of the year.

2) No further farm-in partner is now being sought unless an incredibly good offer is made.

3) OHM technology is interesting but not expected to be part of this 3 well campaign

4) Sharing of rigs with partners other than Rockhopper is unlikely owing to the greater depth of water in the south, 1000m instead of 200m, bad luck FOGL

5) The preference for a placing/offer and Rockhoppers involvement is to minimise the dilution effect for shareholders, a deal with a major would have left us shareholders holding less than half of the % in the company we currently have.

6) A drill ship is a possible alternative to a semi sub for just 3 wells as although the daily rate is high it can steam into position in much less time. However if the campaign extends beyond 3 wells then a semi-sub becomes cheaper.

7) The site survey hasn't been organised yet because there is a possibility that the HSE will allow the detailed 3D knowledge to be sufficient if some shallow drilling is done first to eliminate the possibility of gas pockets

8) Dr Colin Phipps is in excellent health and does 40 press ups a day so we can be sure he will continue to look after our interests well.

9) Dr Ian Duncan is our new Chief Executive and will now manage the procurement stages with his 30 years of experience in the industry.

10) Rockhopper is clearly a significant event with our Chairman wearing a Rockhopper tie throughout proceedings.

11) Tomorrow they are intending to decide on the three drill sites - I wish them plenty of luck.

Thanks for that lucky swimmer.

Must say i'm very surprised and concerned at point 2. Did he (CP) really say that?

thanks again

ming