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

Are those 'limit sells'? If so, in what price range?

funnily enough have just checked L2 and it is indeed a skewed order book, as a lot of sell orders are at 115 and higher ..... at a very quick mental count, about 1m at 115 and above, so on reconsideration, realistic book is balanced or thereabouts

Thanks. I wonder how many of those limit sells around the 115p level will be withdrawn as we get nearer the TD date. Seems a bit pointless selling at that price if oil struck. If not... 115 is immaterial.

shares on offer range between 115 and 230

DES has been grossly oversold then.

Ah! 230p. Now you are talking! That would do very nicely!

doesn't follow .... it's only true if oil is found in good quantity .... that said, there has probably been a lot of selling from o'exposed positions

Relax -Theres oil there . Without question / caused a war for f*** sake. ,,As early as 1965 the CIA boyz said the islands were floating on the stuff..- hundreds of BILLIONS of bbls they said - /Shell verified in the 90s but with revised estimates of tens of billions ; but what with oil then at a pittance and available elsewhere coupled with the daunting drilling environment, and the absence of todays tec, they abandoned their project. But with oil now @ $80 p/b, latest tec and proffessional big shorters closing their positions on price p/bbl , oil is only going north. Question only being can DES or Fogl access this oil in both good quantity and quality ?.....as always mms are ruthlessly exploiting this criteria and lining their pockets..

lev 2 orderbook is indeed skewed -personally i find it hard to rationalize. Do u find it balanced Mr C ? Surely 96p is oversold

surely you're not becoming one of those tiresome conspiracy theorists (your post 3808)?

i agree that the odds of finding commercial oil are shorter than usual, but that sure as hell does not mean every well sunk is going to hit a bonanza; there will certainly be dusters and you/we had better hope that DES's first attempt is not one of those ..... like i said, 96 is only o'sold if oil is found

TFC - I read a while back that there are billions of barrels of oil underneath the Rockies, but that the U.S. & Canada were going to sit on it until everyone else had run out. Being a sceptic, I say 'until it's proven, it's only rumour & even then may not be commercially recoverable'. Likewise The Falklands.

lronically i felt you would pick up on that Mr. C so quickly hasten to add that we should not be surprised if the first or second well sunk comes up non viable...- thats the nature of the beast ..Our knowledge of drilling, or come to that , oil in general( both up and downstream ) is insufficient to g/tee success the first time, and/or every time -l feel that very inference is in posting 3808 but you have ignored it to furthur your view ..- but l certainly dont hold any conspiaracy theories. .Only time will tell i guess.

Good post Oily......rumour was that they might be in Liz this weekend if so i would think it will get out as they all have internet on the OG and most of them hold.

Are you in touch with any of 'em, Marky ?

Up we go.....looks like I topped up at the right time !.

could be the weekend, in that case you'd better be sure you're in tomorrow. strong rally tomorrow? i'm hoping

The sp is bound to be shorted and vica versa ie played with until news becomes imminent. FWIW analysts reckon there is a 20% chance of finding oil.

i would like to think the odds are a lot better than 20% after all these years..... a better day and i expect it to race away tom.

The trouble is markymar, what we expect is quite often what we don't get!

very true!!!!!! I have my ticket just in case.