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,

Just got in and doing the boards found a good post from ADVFN a bit about EGM so thought i post it here.

thatsmart - 11 Mar'05 - 21:29 - 12043 of 12052


A couple of stats and notes from my notebook re egm.
33 shareholders attended the meeting. (more than normal)
There are 11,000 shareholders. (to the nearest 1000)
6000 took up the offer which is very good apparently.
56,000000 shares in favour of the resolution, 33,000 against.
AGM in May.
There is a host of work to be done in preparation for the drilling - tried to get a date before they left, but 'later this year' was all I could squeeze out until I suggested the Austral summer really begins in September. A nod and 'we'll try and bring it forward if we possibly can' was all I could get. Words and phrases such as, health and safety, paperwork, personel, contracts, and a million other details need fine tuning etc, led me to beieve they really have got their hands full for the foreseeable future.

Of course, the big one is that Desire are not going to let anyone muscle in on this act and take over. (this is not to say there are no other interested parties who may stump up a few bob and join Desire, but that they will be subordinate to Desire. This is why there is no place for the comglomerates) All work will be outsourced by Desire. Which is where the tankers come in. Desire do not plan to strike oil and then flog the lot to the first oil major who comes along. It was indicated that the amount of money would have to be vast, as in humungus, to tempt Phipps and co into relinquishing Desire's Falkland acreage. I remember some time ago using the phrase, 'beyond all expectations' and this is apparently the same view as the board. Bon voyage to all, Monday is top up day, and I vote we all turn up and give Phipps three cheers at the AGM.

Hi all

Thanks to all the posters for all their time & effort.

Thanks for the post markymar


It looks like DES will be more attractive as things unfold. It takes a lot of confidence, not to give in to the major companies. Think about billions of barrels shared between 11,000 share holders... I think the odds are better than the natonal lottery. Some body posted calling us the Beverly Hill Billies, lets hope their right ! We have everything in place now, appart from minor details. The 350 oil sector is down at the moment. It looks like it will pick back up soon. This should help DES. I have posted a chart.






Good Luck All

Eddie

Hi all


Here is the yealy chart. As you can see there has been a doji formed. This indicates a tug of war between the buyers & sellers. The the lower shadows are getting higher, this indicates the buyers are not letting DES drop bellow these levels. This is testing the support level. DES is looking good!








Good Luck All

Eddie

Evening All
Thanks Eddie for the charts. Lets hope we get off to a good start tom .
Regards
Berlingo

Hi all

Looks like we've had low volume.

Well DES has a capital 113.7m now. The number of shares out now is 219m (the new shares of 0.4500p have been added). This should allow DES to be more volatile. The open 0.5150p, high 0.5350p, low 0.5100p, close 0.5200p. The candles for today is a bullish harami. So all being well we may see some upward movement from DES. Lets hope its this week ! The support has held again today, so we should be moving off it soon. Plenty of room on top !


(the candle on this cahrt is a high wave candle)







Good Luck All

Eddie

Cheers Ediie for that.

Markymar

Eddie looks like the rising window ( gap up)on the 25/2 is giving solid support.

Hi momentum

Yes the support has been at the window. May see some movement up soon, I hope. The bullish harami may be the turning point.

Any thoughts?

Kind Regards

Eddie

the rest of the week could be volitile
as mm's off to the races
next week should see things settle down
after issue traders take thier gains
or not as the case may be
longer term rig dates & drilling programme
news is what will push the sp up
all the best

HUSTLER

Hi all

Today the open 0.5200p, high 0.5200p, low 0.5000p, close 0.5125p, collective volume 1.156m. The candle formed is a hammer. It is said the market is hammering out the bottom of the down trend. The support was at the rising window again. This is offering good support during sell off. The rising window & hammer are good support indicators. Lets hope the reversal is soon then !






Good Luck All

Eddie

http://quote.bloomberg.com/apps/news?pid=10000039&cid=lynn&sid=aNXmMdKxOtaE

Drilling for Oil? Start Prospecting in London: Matthew Lynn
March 16 (Bloomberg) -- Where is the best place in the world to look for oil?

Under the Indian Ocean? In some of the remote regions of Africa? Down around some of those countries with long, tricky-to- spell names that used to be part of the Soviet Union?

No. The best place to prospect for oil right now is London.

The London stock market is going through a speculative frenzy over oil exploration stocks. Investors are piling into stocks based on little more than rumors and hope. Shares are being sold on the back of the purported expertise of developers, not business plans.

Is this just another dot-com style bubble? Or is there a real investment opportunity underneath the hoopla and the hype?

For a flavor of oil mania 2005, here are two examples.

On March 14, Afren Plc., a new oil and gas company, listed its shares on the London exchange at 20 pence each. By lunchtime, they had jumped to more than 56 pence, almost tripling in just a few hours. The London-based company raised 8 million pounds ($15.3 million) in its initial public offering.

Afren has a starry pedigree. The directors include Rilwanu Lukman, a former president and secretary-general of OPEC. Another director, Egbert Imomoh, used to run the Nigerian operations of Royal Dutch/Shell Group. The company clearly has people on its team who know a lot about oil.

White Nile

Investors in White Nile, however, might regard those gains as relatively paltry. Last month, the company soared in value.

White Nile is an exploration company set up by the former England cricket star Phil Edmonds. Listed on the London market at the start of February, the shares increased more than 11-fold in a week before being suspended. The Financial Times reported that the U.K. Financial Services Authority was investigating the price surge, which came just before an announcement that White Nile had obtained a stake in an oil field in Sudan. The shares are still suspended.

There have been plenty of other spectacular gains. Centurion Energy International Inc., which develops oil assets in Tunisia, has seen its share price rise from just 52 pence in 2003 to a high of 780 pence last month. Desire Petroleum Plc has seen its shares soar from 22 pence last year to a peak of 67 pence this year, before falling back slightly.

In total, 24 new oil exploration and production companies have been listed in London in the last 12 months, according to research by Al Stanton, an analyst with Bridgewell Securities Ltd in London.

Another Prospectus

``Every day there is a thump on the door, and it's another oil company prospectus landing on the doormat,'' said Stanton in a telephone interview. ``Share prices are being pushed up very quickly, with what I suspect are thin volumes and a lot of trading from private investors. The man in the street could well get burned.''

The oil exploration frenzy is starting to show some spooky similarities to the dot-com bubble of five years ago.

Take companies such as Afren and White Nile.

They don't actually own any oil in the ground yet.

Afren has an agreement to take part in a field in Nigeria. The rest of the money raised from investors will be used make acquisitions.

Likewise White Nile. Again, no actual oil. At least not yet. According to a company statement, it was created ``to identify and acquire projects in the natural resources sector with particular emphasis on oil projects within Africa.''

Emphasis on Presentation

While oil exploration by its nature always has been somewhat of a guessing game and companies jumping into that world may go on to great things, many of the new companies seem to be as much about presentation as future production. There are few better illustrations of that than FirstAfrica Oil Plc. It actually used to be a public relations business called Financial Development Corporation Plc before a reverse takeover at the start of this year. It's now in the oil exploration industry (and had been rewarded with a tripling of its share price).

The prospects for small, nimble companies that are good at finding oil haven't looked better in years. The demand for oil has been rising strongly during the last two years, and so has the price. The oil giants need to replenish their reserves.

Unrealistic Expectations

It's not necessarily a bad thing that some oil companies are being floated on the backs of personalities. The oil industry depends on contacts as much as anything else. The more difficult the territory, the more important it is to know the right people. That may well be a crucial factor for success.

The trouble is, a genuine investment story is being over- hyped, just as it was in the technology bubble. The market is channeling investment into an industry that needs it. Yet it is also creating unrealistic expectations and a playground for speculators.

Very few of the technology companies that surfaced during that bubble actually went on to make any money, and the same will almost certainly be true of London's new wave of oil companies.



To contact the writer of this column:
Matthew Lynn in London at matthewlynn@bloomberg.net.

To contact the editor responsible for this column:
Bill Ahearn at bahearn@bloomberg.net.

http://www.timesonline.co.uk/article/0,,3-1525629,00.html

Protest draws blood over barren island
From Richard Lloyd Parry in Tokyo






AN ELDERLY South Korean woman and her son severed their own fingers yesterday in protest at Japanese claims over a barren, rocky islet in the middle of the ocean.
Park Kyung Ja, 67, chopped off one of her little fingers with a meat cleaver in front of the Japanese Embassy in Seoul in protest at Tokyos claim to the disputed island known as Tokto in Korean and Takeshima in Japanese. Moments later her 40-year-old son, Cho Seung Kyu, cut off his finger with a pair of secateurs, and police struggled to confiscate knives from other protesters.

The bloody protest came a day after Japans Ambassador to South Korea flew back to Tokyo for emergency consultation on the escalating dispute, which is further undermining relations between the neighbours. It has made a farce of what was supposed to be South Korea - Japan Friendship Year, an attempt to overcome resentment at Japans colonial occupation of Korea.



Ban Ki Moon, the South Korean Foreign Minister, cancelled a visit to Tokyo this month because of the dispute. Two weeks ago President Roh Moo Hyun suggested that Japan should apologise and pay compensation to Korean victims of the war. Japanese diplomats point out that their Government apologised ten years ago, and that South Korea gave up compensation rights when the countries resumed diplomatic relations 40 years ago.

The dispute seems all the more remarkable given the prize over which the countries are squabbling a few thousand square yards of low, wind-blasted rock that make the Falklands look like paradise.

The islets importance comes from the 1982 United Nations Convention on the Law of the Sea, which defines a 200-mile economic zone within which each signatory enjoys exclusive rights to fishing, natural resources and land reclamation. Whoever owns Takeshima/Tokto also has the rights to 16,600 square nautical miles of sea and seabed, and the potential locked within them.

The islands are at the centre of rich fishing grounds and, geologists suspect, significant mineral and oil deposits both important considerations for two industrialised countries nervously conscious of their lack of natural resources.

Japan maintains a theoretical claim on the islands but there is no question of attempting to enforce it. Such is Korean sensitivity that merely to restate Japans position as Toshiyuki Takano, its Ambassador to Seoul, did this month is to kick over a hornets nest of antagonism.

Matters have been made worse by a proposal to designate a Takeshima Day, when Japans claimed ownership of the island will be celebrated. Last year Taro Aso, the Japanese Home Minister, suggested that Japan should refuse to handle South Korean mail after the country issued a set of stamps bearing images of Tokto/Takeshima.

Hi all

Thanks markymar

The window suupport has now been broken. The next support is at 0.4950p. Lets hope this holds out. The open 0.5125p, high 0.5000p, low 0.4950p, close 0.4975p, collective volume 1.146m. The buying picked up towards the end of the day, but not enough to maintain the windows support. The 10 day moving average is above the 20 day moving average still. DES will have to rise soon as it is at the bottom of the medium term trend. The reversal signals need to take effect around this level. To maintain the support line.






Good Luck All

Eddie

Head and shoulder pattern formed. Imho Eddie SP will break to the downside and test the 200 day support.Nothing negative but there isnt enough buying volume at present to halt the slide.News is needed to bring in new buyers.Until then i beleive we will drift lower on small sales.

Hi mometum

Yes tomorrow would definatly have to be bullish. Otherwise lower levels might be seen. There are plenty of patterns that could reverse this lower level also. Bullish engulging, bullish counterattack, peircing pattern, bullish harami and more. But yes DES could drift lower also. Hope we get a bullish day instead !

Kind Regards

Eddie

Cheers Eddie,

D-DAY i think!

telegraph.co.uk
(Filed: 17/03/2005)
[snip]
Ian Duncan, currently a non-executive director of Desire Petroleum, has accepted the post of chief executive. Dr Duncan, a geologist, previously worked at Exxon and Clyde Petroleum.

Eddie ,

On trade pages on moneyam on the last trade they moved the asking price up from 51p asking to 53p could this be a glitch or maybe a big buyer came in right at end and will put trade through tomorrow any thoughts.

Markymar

Hi Everyone
Well, this share never ceases to surprise. Looking like heading towrds the .45p mark , it gets support at the crucial time and gets over the .50p , just !
Hi Eddie, shall be v.interested to see the chart tonight ! Is it looking good for a up turn in your opinion ?
Lots of oil companies mentioned in the Market Report section of The Standard tonight , regarding Buys and Sells , but guess whose missing ? Is it me or DES is completely overlooked . Suppose no one in the press taking the Falklands seriously , YET !
Good posts Eddie , Markymar . Keep it going guys
Regards
Berlingo

Markymar the 50-53p quoted after hrs is simple what the last MM signed off at. They were obviously on the bid at 50p

Cheers momentum just a little strange for the mms to lift the buying up at end.

Also 700,000 sells and 200,000 buys and the price goes up its crazy

Belingo i bet you were still skiing and Eddie get that neck of yours on that block ready for the chop am away to sharpen my axe or i might just leave it blunt to be nasty.

I must say am pretty relaxed over this share price as i know we are going back drilling this year and the price will follow and i will have my Range Rover but what colour thats thr prob.