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 you doubting cynics word gibby...........shame on you....;))

It's a sell. chances are extremely remote of finding any commercial oil, I'm shorting too.

gibby - why? ..... the reverse i would agree with

Regret to say that I also think it's a dud & on that basis have put a limit buy on RKH. Not much point on doing the same with DES, imo, as in the event of a dud, the sp is unlikely to recover immediately.

It won't be long before DES has to give up on Rachel... it is clutching at straws.

DES will be drilling again, straight after Rachel, so I would think there is plenty of room for a rebound should Rachel come in dry.

i know i have a vested interest, but in all honesty, why should the next sites be any more likely to be winners? ..... be honest, with yourself above all, and tell us your logic

chav so far their track record is abysmal why should their chances of making a discovery suddenly improve after another duster?

Surely each drill now stands on it's own merits, regardless of previous efforts, assuming they are different formations?

This must be costing them a fortune with all these delays, I wonder how much money they have left I would be surprised if they have enough for the further 3 planed.

Harry drilling locations are a reflection of the expertise of those employed to decipher the seismic etc, so far they have come up dry.

cant say shorters are cold on DES .....Reading between the lines Rachel is all over bar the shouting and as such ripe for shorting.Hence my own position . .....this could really sink big style to 40p/ 50p............or worse

And if one green bottle should accidentally fall.........

no harry, or next you'll be telling us DES are leaving their best prospects to last

We know the COS before any of these drills, so we know they are more likely to be dud than good, and plenty of luck is required for success. If the COS was 90%+ then the upside on finding Oil would be very small because the market would already have it factored into the price.

If Rachel is dud then I see the sp banging down to around 30p at the time of the RNS but then a rebound as people buy back in for the next drill at Dawn...COS 10% but people will still take a punt for the huge upside that a successful drill will bring...Dawn/Juacinta is a very large structure..but whats in it????

Another dud coming... good time to short before the results.

Doing so.....but it's a big risk......

Sp starting to slip...my guess is that they will not be able to complete the testing and will move on...will return later .....or never....sp to dive...and a little recovery before next spud.

Looks like quite a few regular bloggers are shorting this.....including myself ...risky, but this looks ready to plunge....

Don't worry... this is very likely to be a failure.