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

Post 3722. Personallly I think that a Chance Of Success of 17% is ultra conservative for Liz. This will be the seventh roll of the dice to find commmercial oil in the basin; law of averages are now on our side.

This might be of interest to some on here - Q&A: The Falklands oil row

certainly not complaining to see sp chugging back up (now 115.5 mid) but somewhat surprising to see volume pretty low at only 5.2m traded so far - unless there are some big incomplete orders still in process

I fully expect sp to race up in next few weeks as investors get in before the drill result is announced, otherwise risk sp being marked up massively on a strike. I agree that chances are favourable considering the history and DES wanting the first to be successfull, they will have chosen the best prospect to drill first. In the 90s the sp raced up to over 5 without a significant commercial find.

Anything sub 100p has got to be worth a small investment, imo. As for the sp 'racing up'.............now 105p.

the one thing that concerns me about this stock - other than the possibility of a duster - is that there are consistently 2/3x more shares on offer than there are bid

Is that bad? More buyers waiting than sellers?

Broker Fox Davies with a note out yesterday telling clients to hold.

Latest Broker analysis for Feb from hemscott premium...........

Desire Petroleum PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Fox Davies Capital
23-02-10 HOLD

Oriel Securities
19-02-10 BUY

Seymour Pierce
12-02-10 BUY -1.00 -0.29 -1.00 -0.29

very weak today, and 100 might be seen later ...... could be forced selling and/or stops hit

incredible, Venezuela add their 2p worth and that spooks the sp. Wonderful for day traders as this will bounce around but ultimately wouldn't want to be left without when the announcement comes - Marky when would you say the likelihood of news or the soonest possible strike?

towards end March

The share price was always going to be volatile in Desire it always has been and always will be!

Sabra rattling from Argies and thats it, Ocean Guardian is in British waters drilling for oil and while in British waters it has nothing to do with the Argies,for the Argies going to the UN in New York they will get a flea in their ear like every other time they have gone.

Drilling i think the earliest will be the 13th March and to be watch closely from then on. I think if they hit oil news will leak quickly.

Am going to stand on my box and rant now!!!!!!

Why they will get a flea in there ear......Just because they live near it does not give them the right to claim it.

The French founded the islands' first settlement, on East Falkland in 1764, and the British settled West Falkland in 1765. In 1770 the Spanish purchased the French settlement and expelled the British, but the latter's settlement was restored in 1771. In 1820 Argentina proclaimed its sovereignty over the Falklands, but the British took them back in 1833. Argentina invaded in 1982, and the British reclaimed the islands after a brief conflict.

Ah, that's all history now marky. Things have changed & looks like we are apologising for any transgression we have made over the last century or two! (Unless, of course, there is oil involved!)

What I like is Argentina getting all hot and cold now that they all think that there might be massive reserves there, they have the cheek to mention us Britsh people as being "the old empire", when they have behaved like the worst kind of criminal invaders themselves....terrible hypocrisy !.

Aye indeed........... very Katy perry !

Euuhhh !...who's Katy perry...

I thought this story was worth a mention as this bloke am sure brought it to the attention Acardia.Its in Norweighn and have translated as best as can.The UN meeting is a late one at 8 to night so i hear.

http://e24.no/boers-og-finans/article3535041.ece

We send four Eurofighter and one submarine
TILL THE BITTER END: After 15 years as the main shareholder Robert Keith has never been closer to recovery through Desire Petroleum. He does not want Argentina to stop the potential oil adventure off the Falkland Islands. - I remain a shareholder "till the bitter end," says Keith. Photo: Neegaard, Dan Fetter
Robert Keith and Thomas Fussell fighting for oil deposits off the Falkland Islands.

It brews up to the intense conflict between Britain and Argentina because of oil deposits around the Falkland Islands.
The former Opticom and Fast-duo Robert Keith and Thomas Fussell is the main shareholders in Desire Petroleum which operates six wells in the Falkland Islands north pool.

After having lain fallow for 12 years began Desire to drill again on Monday.
- Argentinean can take it quite calmly
Robert Keith thinks its Desires activity that has caused aggression between Argentina and the United Kingdom.

- We sent the rig to drill from Scotland eight weeks ago, as Argentine have known this for eight weeks and started to be "very excited", said Keith to the E24.
- They have dreamed of the Falkland Islands for many decades and began to believe that they can own it again, but they can not worry. United will defend the area with great force. We send a "destroyer", four "Euro-fighters" and a submarine are also on the way, "he adds.
Desire Petroleum has fallen in recent days over 20 percent on the London Stock Exchange AIM (Alternative Investment Market).
Wednesday at 11:00 is the stock down 7.8 percent and the trade at 102.8 pence share, down from 130 pence at the beg.

- There is nothing to worry about, now, only diplomatic exchanges which were all prepared for when the drilling started. The rate has fallen because of all the noise in the newspapers, "says Keith.
UN involved
Drilling has been in the minds cook in Argentina, who thinks Britain has violated UN resolution for activity in the disputed waters. It writes the British BBC.
Argentina's Foreign Minister will later this week meeting Secretary-General Ban Ki-moon at the United Nations to discuss the UK's right to the waters off the Falkland Islands.

Britain's Defense Minister Bill Rammell said the country has "legitimate right" to build the oil industry outside the Falkland Islands (see fact box).
- 3000 mil from the nearest Muslim

Keith has been one of the main shareholders of Desire since the company was established in 1996, and declared in 2006 a strong belief in the company's reserves and the location because it was "3000 mil from the nearest Muslim."
- Haha, the Falkland Islands are still more war-torn or affected than the Middle East. The point is that we have is 3000 mil from the political problems associated with terrorism, "Says Keith.
- In addition, the Falkland Islands 3000 mil from Opec-like control. This means we can sell as much oil we want. Opec has been established to drive the extortion of the Western world. That is why Norway is not a member, "he adds.


Despite 15 years without a drop of oil, he remains an optimist on behalf Desires.
- When we drilled in 1998, we found oil in five of six wells, but we did not find the source of oil, so the reserves may have been too far down or it may have been leaked oil we found. This is a new territory for oil exploration. Remember that in the North Sea drilled 40 wells before the man was found oil, "says Keith.


Exploration and drilling were put on hold in 1998 when oil prices were down at $ 10 per barrel and gas prices also reached the bottom level.
- The last three or four years we have gained a good understanding of the geology and we have spent 20 million pounds (around 180 million) on seismic. As we begin drilling again, we are more focused and have a greater chance of results.
- Last time we knew what we were doing, "says Keith.
John Fredriksen involved

1. Last October, Desire signed a rig contract with Diamond Offshore, where they rent a rig for $ 250,000 days.
- Previously, we have not gotten someone to send a rig right down to the Falkland Islands. Now we have money, and it was a commercial for Diamond to rent the rig until October 2010.

- We will drill six wells, while we lend the rig to the other three oil companies down there, Arcadia (where John Fredriksen is part owner), BHP and Falkland Oil & Gas. They will drill three additional wells, two of which the results are very relevant to us, "says Keith.

He believes Desire can be a gilt-edged investment.
- Oil Analysts predict that we can find a billion barrels of oil. The present value of the oil is around $ 10 per barrel that means $ 10 billion, or 7 billion pounds. Thats a 25 pounds share, "says Keith.
The stock traded Wednesday at just over a pound. During the last drilling program in 1998 the price climbed to over 4 pounds.

Keith does not conceal that there is a high risk shares.
- If it turns out to be oil around Falklands there will be a "miserable Christmas" for anyone, "said Keith before he adds:
- Can we not oil this year will share fall to 10-20 pence, and almost all value will disappear, but I remain a shareholder "till the bitter end."

There is no UN support for the Argies hence the share price will rise tomorrow.

Hi Marky
its great to see you still fronting the chat room . Its been a long time
,3/4 years since i last posted , i think,
but still have a considerable holding and still as excited as ever !Even more now. We used to get end of day chart shareprice forecasts from a then regular user ,
forgotton his username,but you both were v.good with your posts.Is he still
posting? Regards Berlingo