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

A very big IF...

Close your short soon if you want to be safe.

When will the drill reach 3,418 metres ? what time uk time

looks as though there's a lot of bear closing waiting in the wings, but it's a brave man who buys on the basis of a find

TD will be another 2 days away.

If I had a short..I would close it...2 shorts ..I would close one.....3 shorts and I would probably wear one of them....but not in this weather....

Too early to close shorts... wait till the results would be a smarter move.

Evolution broker note today:
"The initial disappointing results from the Rachel exploration well were a reminder that exploration activity, and therefore understanding, of the North Falkland Basin is still in its relative infancy. The Rachel well is now being sidetracked towards the centre of the basin with a result due in the first week of November. We, and it appears the market, are nervous about the outcome and with the next well (Dawn/Jacinta) having less than a 10% chance of success we move to a neutral recommendation.

The company has suggested that the resource potential of the side-track is unchanged at 250 mmbbls and that the chance of success may actually have gone up based upon the information gained from the initial well, however we have taken a more cautious view and now value Rachel as a 150 mmbbls prospect with a 10% chance of success (was 250 mmbbls with a 20% chance of success). Our approach may be pre-emptive but we would rather be conservative than not.

With Desire drilling two more wells in the northern part of the Basin post the Dawn/Jacinta well there are reasons to be optimistic. Indeed, we are of the opinion that more oil discoveries will be made in the vicinity of Sea Lion. However, taking a bearish view on the Rachel side-track and the Dawn/Jacinta prospect to be drilled subsequently in the southern part of the basin (just a 6-8% chance of success) we move to a neutral recommendation and 66p target price. This is a 70% discount to our revised Core + Risked NAV of 220p. Option value for this share, where we would be buyers given the current level of information is, below 40p and the price the shares hit after the Liz well result earlier this year."

hardly an endorsement to go out and buy ...... 6/8/10% chance of success? ...... that is truly grim

Not in Des but as I am in Rockhopper, I obviously have an interest.
Not saying the week-end press have it wrong, but just remember all the rumors of a duster circulating across the media a few days before Rockhopper bought their well in.
Many believed these rumors and sold.
Fear is a strong incentive to sell.
At the time I was not tempted to sell, not because I am not exempt from such strong rumor or fear of loosing lots of cash, but for the simple reason I was abroad and not in contact with the modern world. Lucky me!
Would I have sold at the time of the rumors. In all honesty, I don't know.

well in addition to my long term des hold made a bit of beer money on the dip here today - i am not going to add to my long term just day trade this if i get the chance - nearly left it too late to sell! sold dt just under @ 69p - wont be rummaging through dustbins for my food tonight now! lol - so at 300 metres / day may know by end this week / sooner?

greekman - i better go on holiday then!! in rkh too now thought i did well buying rkh on dip yesterday then today drops below 3 squid! never mind cant win em all and when rkh is 10 squid + who cares a few pence?

good rns imo - life beyond rach:
Desire Petroleum plc

("Desire" or "the Company")

3D Seismic Programme

Desire Petroleum plc (AIM:DES), the oil and gas company wholly focused on the North Falkland Basin, is pleased to announce the signing of a contract for marine seismic acquisition services with Polarcus Limited for the use of the seismic vessel MV Polarcus Nadia.

Under the terms of the contract Desire will acquire a 3D survey over (a) the areas of Tranches C and D not previously covered by 3D and (b) most of Tranche F to ensure that the east flank fan play fairway, on Desire acreage, has complete coverage. In addition, it is intended to acquire 3D data over the northern part of Tranche I and adjacent areas.

A contract to process the data will be the subject of a separate invitation to tender, which will be issued shortly. Monarch Geophysical Services Limited has been retained to provide specialist acquisition and processing supervision throughout the project.

Rockhopper Exploration plc (Rockhopper) has simultaneously signed an identical contract with Polarcus allowing Desire and Rockhopper to share the vessel for acquiring seismic data in each company's adjacent licences and other areas.

The vessel is expected to commence the joint survey in December with completion by end-April with the Desire share of the survey lasting around 90 days.

from another bb - make of it what you like :
'I'm on holiday at the moment and met this guy who works as a technical engineer for some American company drilling for gas in in the north of Africa. I printed out the RNS and asked him if this was good. He broke it down quite nice and basically said IF they do strike it's gonna be one hell of a payday. All the signs are there so its just a matter of time WHEN they strike. We will just have to wait and see. There's no way of finding out yet if it's a duster or a gusher. But in his professional opinion he said there is every chance DES will strike. I thought I would just share this with you guys. Hopefully bring a little optimism to the board. Anyway, as always GLA and DYOR'

So..... a guy you don't know, met another guy in a bar on holiday and a few hours later after a bucket load of beers, got talking about DES and ......... reached no better conclusion than we all have! Very helpful! ;o)

Was his last name.....an irish one ?...O'Connor...perhaps....?.....or Mondtutu....

There's a guy works down the chip shop swears he's Elvis......

perhaps he has one on his shoulder because he can't afford blue suede shoes

Well ...we are not losing our sense of humour here on the verge of a crash....

Hang on...sp moving up ....