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

Have just seen a rig being towed in the channel today, that must be ours.

Rob that will be the one!!!

http://www.flickr.com/photos/88423542@N00/sets/72157622911666770/


Falklands' oil quest takes off with new drilling plans

http://www.upi.com/Science_News/Resource-Wars/2009/11/30/Falklands-oil-quest-takes-off-with-new-drilling-plans/UPI-36791259621895/

http://www.thesun.co.uk/sol/homepage/news/2754307/Falkland-Islands-hold-oil-fortune.html#mySunComments

The PR machine is just starting.....fever pitch soon!!!!!!!

http://www.investorschronicle.co.uk/Companies/ByEvent/Fundraisings/Analysis/article/20091202/0d8a4ffe-df32-11de-a97c-00144f2af8e8/Falklands-oil-hunt-gets-serious.jsp

Falklands oil hunt gets serious
Created:2 December 2009Written by:Martin Li
It's a measure of how excited investors are getting about oil in the Falklands that The Sun newspaper had a full page devoted to the subject this week. This came as the Ocean Guardian drilling rig contracted by Desire Petroleum was towed out of the Cromarty Firth in Scotland for its two-month journey down to the South Atlantic. Desire (with partner Arcadia) and fellow North basin explorer Rockhopper Exploration plan a four-well drilling campaign beginning in early February 2010, with options to drill a further six.

With the rig costing an estimated $16m (9.6m) to transport to the Falklands and back again, the explorers are keen to drill as many wells as funds allow. Fortunately for them, following a series of recent exploration successes around the world, their story continues to appeal to investors, culminating in Borders & Southern (which is exploring the South basin with Falkland Oil & Gas (FOGL) and its partner BHP) raising 113m last week - more than its market capitalisation. This placing followed recent fund raisings by the other three explorers that raised in aggregate more than 140m.

Ironically, given the keen interest that allowed it to complete such a large fund raising with little dilution, Borders is likely to be the last of the quartet to drill. The semi-submersible Ocean Guardian rig normally drills in water depths up to 450m, which is perfect for the North basin prospects of Desire and Rockhopper. The prospects in the South basin are substantially larger than those in the north, but in deeper water. However, the Ocean Guardian can be modified to operate in slightly deeper water, which could allow FOGL to drill Toroa, a large but relatively shallow (600m) prospect as part of the initial campaign. FOGL's operator partner BHP is now in discussions with Desire to take the third slot for Toroa, following the initial wells to be drilled by Desire and Rockhopper.

FOGL/BHP also plans to secure a deepwater rig or drillship to mount a more concerted assault on the South basin in late 2010 or early 2011, which it would probably share with Borders to minimise rig costs.

Markymar,

A nice write-up. Interest is gaining momentum.

http://www.walesonline.co.uk/news/uk-news/2009/12/03/swansea-raised-oil-man-colin-phipps-predicted-falklands-bonanza-91466-25310294/

Swansea-raised oil man Colin Phipps predicted Falklands bonanza

http://www.dosse.dk/blog/

translated from spanish and some great pictures of the OG,should see the price start to rise from now on.

http://www.falklandnews.com/public/story.cfm?get=5561&source=3

Falklands' Oil - Time to Defuse the Bomb
December 3, 2009
by By J. Brock (FINN)

FALKLANDS OIL TIME TO DEFUSE THE BOMB

By J. Brock (FINN)

Full page and half spread in the Daily Express today page 44 and 45 the link below is not the full artical and missing many pictures.

http://www.express.co.uk/features/view/144273/Falklands-Oil-could-become-bigger-earner-than-tourism

thank you mark ..... glad i'm not so arrogant that i cannot change my mind as bought a fairly modest number at end October which is now prettily in the money

I am holding DES, AEX, XEL and AST amongst the smaller oilers on AIM.

DES, AEX and XEL all well in the money and should be going upwards.

AST remains just above breakeven, but also very exciting for 2010.

haven't heard much about the proposed open offer to shareholders at 70p lately, anyone have any news?

Ho Ho Ho Rob,

Not sure why there has been a delay in O O but it is still at 70p and will be fully subscribed to i expect especially with the price at over 90p at moment,

I have to pinch myself when i see the share price rise like it does as i know what am sitting on!!!!!!!! early days

Glad youre on board Cynic

yeah, me too Mark it's been a long wait but should be WELL worth it, 5 by Feb imo

usually a signal for all to jump ship ..... guess water's too cold at this time of year

http://en.mercopress.com/2009/12/07/desire-petroleum-presents-eia-addendum-to-falklands-government

Monday, December 7th 2009 - 5:41 pm

Desire Petroleum presents EIA Addendum to Falklands government
Oil and gas exploration company Desire Petroleum, licensed to operate offshore the Falkland Islands announced the submission to the Falkland Islands government of the Environmental Impact Assessment (EIA) Addendum required for the planned drilling program.



Desire Petroleum, which is focused on the North Falkland basin, has plans to drill several wells this coming austral summer and an exploration rig, Ocean Guardian is currently en route from the North Sea to the South Atlantic where it is expected to arrive in February.

The update EIA includes details of the Ocean Guardian drilling rig.

The EIA approval is one of the last formal requirements before effectively begin drilling this summer. Desire Petroleum announced that a copy of the EIA Addendum will be posted on its website in due course.

Diamond Offshore Drilling confirmed that the length of the rigs trip from Invergordon on the Cromarty Firth to the Falklands (62 days) could change if there was bad weather.

The tug Maersk Traveller is involved in the moving the 24-year-old Glasgow-built semi-submersible rig.

Under the terms of the contract between Desire Petroleum and Diamond Offshore Drilling, four wells must be completed during a minimum eighty day campaign. Desire Petroleum however has secured options to drill a further six wells for itself or its partners.

Mobilisation and demobilization fees for the rig are estimated to be 16 million USD

Can the EIA Addendum to Falklands government be rejected???

yes!!!! but it wont be it was one of the last things they had to do when they contracted the rig.

Desire in open offer to raise 20.3m

Business Financial Newswire

Desire Petroleum is raising 20.3m through an open offer of up to 28,971,544 new shares at 70p apiece - a discount of 21.1% to the closing price last night (8 December).

The offer is being made on the basis of one open offer share for every 10 existing shares held.

shan't retire on that by a very long way, but it'll help bring down my average price