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

Rumours are DES is drilling through oil charged sands now.

Would be lovely to see the shorts get well and truly burnt.

Third time luck DES ? I hope so........

The Sun appears to be hearing rumours.....


http://twitter.com/steve_hawkes

.....Word is they're cosying up close to Rachel again

about 5 hours ago via web in reply to dwaynequinn......

Under Market Report.

http://www.thesun.co.uk/sol/homepage/news/money/3251778/British-Airways-pledges-to-take-on-world-after-merger.html#ixzz16kBuEJ1G

.......DESIRE PETROLEUM jumped 17p to 131.25 on fresh rumours over a discovery at its Rachel field in the Falklands.......


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Not one to take much notice of rumors, but if the sp shoots up again, they must surely release an RNS stating either that oil containing sands have been reached or that they know of no reason for the price hike.

greekman, no need for any RNS.

DES is the most volatile stock on the AIM and they are allowed to go through large swings without the need for an RNS.

The later the better IMO, maybe Thursday would be good or Friday morning.

The way the sp is going....looks like they have hit something....

Plenty of Volume...which is good.snowman making again chav!!!!

Incredible performance.

Yes....any leaks anyone ?......sniff of commercial oil in the air perhaps ?....

Just a gentle reminder folks, the graph went from c98p up to c165p and then headed straight down to sub 80p last time, so it does not follow that this rise is due to good news! Of course I hope it is, but my hoping isn't going to change anything.

4 Mill traded in 1 hour,Harry the stock has not been as volitile this time and i have been the most relaxed on this drill.

All "sauces" are now saying oil strike.

DYOR and all that.

Oily sauces I hope!!! LOL

Cinners must be in transit as we have not heard from him.....we need a leak from our man on the platform.....

All my schools open this morning Marky so building Snowmen on my own...2 wheel drive is good enough in this cold snap!

Hi Proselenes,

You say, 'DES is the most volatile stock on the AIM and they are allowed to go through large swings without the need for an RNS'.
Appreciate it is more volatile than most, so 'may' get away with more than none volatile stock, but when this happened to Rockhopper, they were forced to release an RNS.
Swings of 10% or less will probably not generate a RNS, but if it goes higher again, I feel they will have no choice. Not that it matters much, except for the day traders. Those of us who are awaiting the drilling results don't care much re these swings, as oil will be found or not. Obvious thing to say, but I am sure you know what I mean.

regards Greek.

Another big gamble here.....at the moment nice profits showing but I might be forced into staying put until next drill in the event of a commercial hydrocarbon no show....

Greek, DES were given an allowance to not comment on larger swings that what might force other companies to release an RNS.

This was due to its extreme volatility this year.

Proselenes...does your source say oil or no oil ?...I presume oil...

rf...I think Pro's source is the various BB's, so you can read them all and make your own mind up!