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.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.

Hi all

markymar, berlingo, momentum

Sorry I'm a bit late.

Yes very stange trading lower buys than sells & share price goes up. Any way its about time we had it that way round for a change. The open 0.4975p, high 0.5075p, low 0.4900p, close 0.5075p, volume 1.064m. This shows the the bulls were in control (don't know how though). The candle isn't the perfect peircing pattern, the open needs to be lower than yesterdays close then move well within yesterdays red candle for that. Anyway I would like to think it's meant to be a peircing pattern or bullish harami. If it is then we will want to see confirmation of this tomorrow. This should be in the form of a continuation blue candle or gap up. If we get a gap up then we wll have window support again. DES would need more volume for this I would think. But who knows, starnger things have happend.





Any thoughts ?

Good Luck All

Eddie

Cheers Eddie i have gone to sharpen the axe.

Hi markymar

I don't think you'll need it. DES just needs a boost, some more news maybe. Omnitrader still has des on a buy (using weekly candles).


Kind Regards

Eddie

Thanks for that Eddie . V. strange , more sells than buys and it goes up ! I think there is some v.strange manipulating going on here.
Wish i was skiing Marky, but what the heck, hopefully there will be gold tips on the end of each one next year !
Come on DES give us a good end to the week.
Still waiting for confirmation of my allocation by the way. Any idea how long the registrars said it would take ?
Regards Berlingo

Hi Berlingo,
I have had my allocation, my extra shares and my remaining monies refunded for a couple of days, So I do not think the registrars are at fault here. Maybe you need to give your broker a little nudge.
Good luck
Jon

By the way am still waiting to find out what shares i have and am with Barclays so just a waiting game.

Jon any thought on post

Seems that Des is happy to chug along sideways still and I think it bodes well for further bullish action. Sure there is a 'potential' head and shoulders reversal pattern on the chart to be wary of. But it only becomes in effect when the neckline breaks (based on it yeterday). For now the market continues to trade within a continuation triangle and as we approach the apex, we should expect to break (higher?).

http://www.britishbulls.com/StockPage.asp?CompanyTicker=DES&MarketTicker=RESOURCES&Typ=S

Still a Buy if

Marky, I too am with Barclays, so i don't kow what is going on there. As I said all done and dusted days ago.

Not much to say really, As usual I am baffled by the lack of price movement, volume, media attention etc.. The buys/sells and daily fluctuations in sp seem to have no bearing on one another.

It is going to break soon one way or the other.

But looking away from the daily minutia, DES will be contracting a rig and will resume drilling in the NFB after a seven year absence.

Jon i am going to ring barclays up i think postman been and nothing there in post so i better check did you get your mail ok the other day.

Its been very played down at moment firstly from the Desire camp but it will come out sooner than later.

Hi Jon,

Rang up barclays who told me to ring Capia on 08701623100 and yes got shares and extra an put them on to portfolio and good profit there already.

Ediie have put axe down looking for blue sky as Friday always a good day for Desire.

Also happy 1000 post on this thread