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

Just back up from the mine and still sunny and a bit frost on the ground still, thought I get a cuppa and take the clogs off.

Not much happing I see on L2 its neck and neck on a 10% filter and not many rumours.

RKH looks a little stronger on the book on 10% filter but still think there will be an over hang for a little longer till she steams a head, hopefully Desire going directly for the honey pot we might get some good news.

Sunday Chav is the next good day for flying that kite untill then its clogs with studs in and wooly hats.

I see its the witching hour on iii..clogs on clip clop clip clop

decided to sell at 92p[buy triggered at 75p]. a profit is not a profit unless its banked. now do i top up with RKH as they have oil or not, that is the question?

GLA to all that are brave enough to keep the faith

Alex

Alex I cant see a down side with RKH apart from a little time needed, I have a 5 figure number in RKH and thats my bank......just hope its not northern rock!!!!

Rig...they may need a second one if Desire hit...RKH have enough money to get 2nd rig.

DES is the wild card and my gamble with also a 5 figure number,,,,its early days at the moment and a gamble, am sure I will get my full house just need time, things have changed so much over 10 years in the oil business its not pin the tail on the donkey any more computers have changed that and technology.

Stay away from BOR and FOGL for now.

AGR if youre willing to wait is a canny price to get in at...maybe 5p cheaper or 10p.

Or wait till Rachel results and you will either grab a bargain or pay a little more than you should.

Must be watching to much as very strange trading today, des order book down we get a load of buys 1,111 next thing the mm steps in SCAP and the order book doubles on a 10% filter.

Back down the mine clip clop clip clop

oh my word how volatile is this. Have held for near on 15yrs now with a core holding again 5figs but am extremely nervous now. Its make or break - if this next one comes up dry its game over and the sp will be 20p, if its a great result then who knows? Marky you must be getting the same feeling, I know you have held a sizeable amount for similar period. We cannot sell as it could be like losing your winning lottery ticket of sorts but surely if the tech is so good and they must have started with the most likely strikes first, each negative result significantly adds to the risk and reduces the potential. In a way it was easier to hold before any sign of drilling but this is the yr for DES if it is to happen at all. In retrospect should have sold half few weeks ago but i was so confident this would be the one and bigger than RKH's. The sp has halved on each dud but with fewer left this next one could wipe us out but also significantly affect RKH aswell as there is a lot of hope value in there for future finds too! Come on DES find that elusive black stuff

you are right to say that if DES comes up with yet another dud, sp will be massacred ..... however, RKH will be relatively unscathed other than from a knock-on effect in general sentiment

imo, anything other than modest exposure in DES is akin to betting your house on the roulette table

Rob you only get one crack in life and I dont want to look back and think I wish I had done that or have IFS in my life some times you just have to take the bull by the horns and hang on for dear life.

Last Friday was dreadful and to know what I had lost, it was good to ring a few people who were in the same boat and just talk.

Its been my dream ticket for 12+ years now and be a huge part of my life I wouldnt want to miss the party now and met some good people from it.

All or nothing.I want the dream!!!!

Cynic if i play roulette its either black or white or odd or even but only bet when odds in my favour.

with DES they are patently NOT ..... it's even very questionable whether or not the odds are as short as evens

"if i play roulette its either black or white or odd or even but only bet when odds in my favour." I don't mean to disillusion you marky, but the odds are NEVER in your favour if you play roulette. The best you can get is 50/50 (red or black); the house always has the odds in it's favour on any other bet.

Harry if odd number comes up 5 times you the put 2 on even and you carry on doubling up until it comes up even. 4, 8 16 ect

Sorry to be pedantic but actually you don't get 50/50 because of the 0 number.

Hence the odds are always stacked in favour of the house.

dd, yes you are correct.
Marky, the odds are still not in your favour.

It will go even at some point Harry, as long as you have a enough cash to keep doubling up.

the classic gambler's error on how to blow all your money

It's the way I used to do it but the minimum bet is 5 and without doing the maths here, by doubling-up each time it goes against you, within about 6 rolls you are putting something like 300 on the table just to break-even or win a fiver.

Makes life fun ....

Have a friend who went to Ireland on a stag do, he was walking down a path when a whole window frame was that rotten, fell out 2 storeys up and hit him on the head he was in hospital for a week.

If the window frame had not landed in the middle part,,,the weakest part and hit he would not be here today.

Moral of the storyyou just never know whats round the corner and the odds of that happing to him again have got to be Zero.

chances of you hitting the jackpot again in your life are not quite as remote, but damn long nevertheless ..... moral - bank a large slab of your profits before they blow away

The only way of making those odds zero, marky, are to never walk under a window. ;o)

Marky - you have been one of the stalwarts here and I can understand your passion for 'making the dream come true'. However there is a time to let the head rule the heart.
I too have been a very long time holder of FI shares since inheriting Coalite (now FCL) shares over 20 years ago; the oil side has come in later. I still hold FCL.
As for DES I bought steadily during the past couple of years and I have only just sold half my holding to a level I can accept (albeit that it will hurt). I remain firmly commited to RKH.
Good luck with whatever way you go - unless it is back down the mine in earnest!

Avsec a tip my hat to you Sir.

http://www.diamondoffshore.com/ourFleet/rigStatus.php

October update

Ocean Guardian 1,500' Falkland Is.
Current Contract AGR/Desire/ Rockhopper Eight firm wells plus two remaining optional wells mid 240's mid Feb. 2010 late Jan. 2011

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