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

I would like to think we are at a sensitive stage !!! AND THIS SHARE PRICE NEEDS A GOOD KICK UP THE ARSE

"Calm down dear, it's only a graph!"

Should now be logging & then well testing to come:
"Well testing involves bringing out a facsimile prod unit, choke manifold, portable seperator, surface tree and associated hoses, piping etc, to allow the well to flow to the flare boom on the rig. There would be a clean-up flow for perhaps 12 hours to clean up the well and get rid of anything that could impede the flow. After allowing the well to re-pressurize back to where it was, they would then begin the well test. This is then burned off for perhaps a 12/24/48 hour period to determine how much flow and productivity the well would produce through a set orifice, or on various sizes of orifice (choke size). The well is then closed in and pressures allowed to build back. This gives an idea of the size and quantity of the reservoir being tested"

+/-100 is a pretty good support level (in normal circumstances) ..... should this well be a dud, then expect a prompt fall to +/-60, at which point, it arguably becomes a buy again

of course, should at least a respectable amount amount of oil be found, then expect the acrid smell a burnt bear fur

i'm not frightfully good at interpreting L2 numbers, so i would appreciate someone else's input

my reading of the position is that the selling (offers) at realistic prices has now nearly dried up, and that buys (bid) at similarly realistic prices pretty much match numerically, or even outweigh

if that interpretation is correct, then the brave may fancy at a punt at this level

need a very long pole.........very deep round the faulklands.....don't fall off cynic.

i use it for dancing, though HSE now insists that this falls under the "working at heights directive" so it is mandatory to wear a full safety harness, hard hat and steel-capped boots

you in a leather thong and kinky boots........

Where is the Faulklands? Rolf

think I'm more right with my spelling than you are with your predicktions on DES. lol

That's the posh end of Port Stanley. :o)

BB - not telling you; it would be bad for your health

lol

We could have a situation where they discover oil or gas but just below a commercial quantity : now what would the sp do ? shoot up in the hope that the next well comes good or drop because the market would think that big amounts of crude will not be found !...tricky !....n'est-ce-pas ?.

By the way anybody any idea as to how much crude WTI should be found for it to be declared commercial ? or gas ?....

if you use HAWK as the criteria, then anything more than 100 bpd is bonanza time!

http://www.desireplc.co.uk/technical_economics.php

The price is bouncing around today!

At a guess I'd say 30 million barrels....which coud be extracted with another well somehow not far away....just a guess....the cost is staggering in such a far location.

bouncing is not quite the word i would use, unless related to a deflating balloon

Are you in this Cynic...kamikaze cfd's or less risky shares...?.

Some good buying this afternoon.....good call Cynic if you jumped in.