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

Hell..I'd better start ramping this quicko...euhh...it's a nice stock...I mean share not cher...with long hair and dark brown eyes..she...sorry...got carried away here...this has to rise above 15 to 20p...ahh..got it out at long last....

The sp might be dragged all the way up to 20p and beyonce....euuhh sorry.. beyond, on a strike by RKH.....then expect a fund raising exercise !.

http://www.proactiveinvestors.co.uk/companies/news/28974/desire-petroleum-directors-buy-shares-after-positive-seismic-results-28974.html


Falklands operating explorer Desire Petroleum (LON:DES) revealed that several directors have upped their stakes in the company after the company reported positive results of seismic exploration.

On Tuesday, Desire reported preliminary results from the recently completed 3D seismic programme, which was carried out alongside Rockhopper Exploration (LON:RKH).

Some of the preliminary data demonstrated encouraging indications for new prospects, Desire said. The company identified two leads, called Beverley and Shona.

The update provided rare good news from the closely followed Falklands exploration campaign that has so far been disappointing, leading to sharp declines in the shares prices of the companies involved.

Desire was notified yesterday that four directors purchased shares in the company. Non-executive directors Andrew Windham and Robert Lyons bought 29,400 shares at 13.2 pence and 75,000 shares at 13.25 pence respectively. Windham and Lyons now hold 0.011 percent and 0.022 pence stakes in Desire respectively.

Executive director and finance director Edward Wisniewski purchased 30,000 shares at 12.9 pence, giving him a 0.009 percent shareholding in the company. Kenneth Black, an executive director and exploration director of the company, acquired 75,000 shares at 13.12 pence and now has a 0.022 percent stake in the company.

Only Windham held shares in Desire before the purchase.

Shares in Desire got a 15 percent boost when the initial seismic results were announced. Todays news about the directors share purchase inspired more confidence in the companys prospects, driving the share price up 11.5 percent to 14.5 pence in early deals.

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At what price will they raise the funds they need?

What will be the discount be to the market?

How much do they want to raise?

Not holding a single share for the first time in 14 years!!!!!

Bumped in to an friend the other day who i had not seen for years they told me they had bought a load of shares after hearing me talking about them they sold them at 1.47......the only person i know who made money out of them.

Good to hear a happy ending

Got seriously burnt on these twice - directors are a disgrace and should be jailed after after that "fake" RNS

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DES is still a crap company, rise or no rise ..... may all be due to bear closing; certainly cannot see any fundamental reason for buying

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Looks like I sold too soon.....RKH is in much better shape...

RF there is still the question of funding and what discount the city boys get which i would think bring the SP down with a crash.

Who knows only Desire can turn oil in to water and make my hard earned money disappear i wonder what other tricks they can do.

I will stick with RKH for now.......bring on the flow test results

Rising again.....might hit 20p.....I suppose this just had to rebound....directors buying will have helped....

RF could be wrong here but on level 2 there are some big sells on the books the biggest is16.75p 601,455 another at 245,000 at 16.5p to sell .....hope it helps.

Funding till sorted am out i would like to think they will wait till news on flow test then raise the money.

mnamreh - are you completely stupid -"up 20%today can't argue with that" - they are still down 90% from a few months ago!!!

I think that there are several things that could make DES and RKH of course go higher : 1, the flow tests, 2, extra acreage (the area around the falklands is vast and unexplored), and 3, fund raising for DES....I think that will put a sail in the wind for the sp....and my little purchase back again today....

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i will be in same spot as most investors here and extremely annoyed with how DES got away with issuing bold face lies in an RNS

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Point taken - just little hard to hear someone gloating re 20% increase when most of us are 90% down despite the rise. Apologies for mis-directing the anger...