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

Markymar & Eddie
Nice to see some blue! Apart from the odd penny or so up and down over the next week or so, I think we have reached the point where the only real movement is up. In a fortnights time, it will be strongly up.
Keep up the good work. I must say that your stats and charts make far more interesting reading than Pro's. Perhaps Pro can come back in a couple of months time with figures...

Seems to be holding with the aid of the oil price so have closed my short at 50.5p for a very nice profit. Will go long sometime but happy to sit tight, better bargains out there today.

Pro

Why the interest if such a dog?

Watch out it may get a couple of major fleas to join the flea it has at moment early days, with over 2 billion barrels of recoverable oil and high oil price the fleas will jump on board.

Regards

Markymar

Eddie,
Looking forward to your charts tonight! It looks as though we'll hold the blue today. It is perhaps a little premature to get too bullish but lets hope we're over the worst. Each day that passes increases the upward potential now. It will be a relief to get the next week out of the way and then a combination of EGM anticipation and investors snapping up shares in the low 50's should really start the upward trend. If the Open offer is oversubscribed,which I think it probably will be, and there is significant scaling back of excess shares, then demand for shares is likely to be high on the day of the placing.
Minnows posted an interesting question today on iiia long the lines of "Will DES share price treble again as it did following the last placing?"
It would be very nice to see this repeated!

JP

I for one would be bitterly disappointed if this year only saw des triple

There will be an eight fold lift on todays prices before year end i'm sure.

When CP places the next part of the jigsaw on the table (anytime) we will be well on our way.

As the drilling begins greed and averice take over and the sp will move at the speed of light.

beaver

Mingbeaver
Thanks for that! Yes you are quite right, an 8 fold increase is not unrealistic by the year end. Fantastic thought that isn't it? I was thinking more short-term when I typed. 300% just to get us going like...!
As you say when the next few pieces of the jigsaw are revealed, and this could be anytime, the share price will soar! Perhaps we'll get something substantive from the EGM, the day before the placing. That would set this share alight.
This is surely the most exciting time in this shares history and happily I'm on board and have been since last year.
All the best.

Remember the last drilling campaign and the way des disappointed many investors, well, rest assured CP has learned a lot since then, he is a shrewd and forward thinking man. Then consider the above, together with the average age of the board and you realise this is now last chance saloon for des. It is with this in mind that I believe the 148 issue is a thank you to the long investors in des. I am certain that the sp at current levels or similar will be history and never seen again, in the not so distant future(Probably days not weeks). Imagine the atmosphere at the egm if news is released on or before this date.

Game on

mb

MB, Personally I feel that the chances of news being released on or around the EGM date are very high. We could well have a firestorm on our hands if this is the case and I shall enjoy every minute of it.
As you say, Game On!

Are any of you going to the EGM i cant as far to far away.

Hi all

Well everyone busy on the BB, I see !

DES looking better today. The chart seems to have closed on another doji. But the chart I have on sharescope is a blue candle, open 0.495p, high 0.575p, low 0.495p, close at 0.575p. This is the chart I generaly work from as it is generaly more reliable. This is a deffinate bullish candle on sharescope, so I'll use this one. The 10 DMA is touching the 20 DMA, which will go through tomorrow (all being well). Even if these averages don't cross tomorrow they will soon. The only thing I did notice was a 150,000 sell which may go through tomorrow. But all being well the bulls will recover this. Lets hope we end the week up! This will give good signals for next week !





Once the MM's are finnished it should be big blue candles.

EGM to far for me also. (would love to go though). Big bang after that !

Thanks to all the positive posters !

Good Luck All

Eddie

Cheers Eddie

Hi all

The candle has changed back to blue. I have contacted moneyam about this 2 weeks ago. I'm still waiting for a reply.

As of this time the bid price is : 0.50p offer : 0.53p mid : 0.515p. Looking ok for the opening. Lets see how the day unfolds !


Good Luck All


Eddie

http://www.britishbulls.com/StockPage.asp?CompanyTicker=des&MarketTicker=RESOURCES&Typ=S


Look like a good call Eddie again

Markymar,
Re British Bulls.com. Thats what I like to see! Nice start to today as well.
kind regards

Good to see some blue sky at last JP and more sunshine in the next couple of weeks.

Markymar

Markymar,
Looks very promising again today so far.
I was interested in the White Marabozu candlestick indicated on the British Bulls site you posted.
Here is the Definition:
The White Marubozu is a single candlestick pattern characterized with a long white body having no shadows on either end. It is an extremely strong bullish candlestick pattern.
Recognition Criteria:
1. A white Marubozu does not have upper or lower shadows.
2. The day opens and prices continue to go up all day thus forming a long white day with no lower shadow.
3. The day also closes at the high of the day and hence with no upper shadow.
Explanation:
A White Marubozu simply means that the opening price is equal to the low price of the day and the closing price is equal to the high price of the day. This shows that the buyers controlled the price action from the first trade to the last trade. In a White Marubozu day, the day opens and prices continue to rally up all day long without looking back. The bulls were very strong during the day at such a degree that it caused some concern among the bears and led them to cover their short positions thus adding fuel to the rally.
Important Factors:
What the White Marubozu says about the future course of the trend depends a lot on the general picture. A White Marubozu can possibly be the first part of a bullish continuation pattern but it may also be interpreted as a bearish reversal candlestick pattern depending on the preceding day's candlesticks.
The White Marubozu is a single candlestick pattern and consequently it has low reliability. It reflects only one day's trading and it may show the continuation of the trend but also may indicate reversal. It needs to be used with other candlesticks for a better and healthier judgment about the status of the trend.

I think we've got another similar stick today.
Eddie, you are the expert! I'm sure you can elaborate and explain better than I can.
Next week will be very interesting! But then isn't every week with DES?!
Up we go!
Good weekend all.

Thanks for that JP i thought the price would stick at 50p mark untill after the EGM so good to see a little sky today.

I expect after the EGM blue sky and for the sun to start to shine again.

And keep one eye on Rockhopper

Markymar

Hi all

Markmar / JP

Yes this was the pattern I had (British Bulls). If today holds well, we will have more confirmation. Three candles white/blue will give us three advancing soldiers pattern. This a strong bullish pattern.


Good Luck All

Eddie

Pemex have just announced a find of 200tcf of gas in two seperate fields offshore Mexico. This is big, it could keep a lid on gas prices for quite a while so lets hope Desire find lots of oil and not just gas. A figure of $200billion was quoted on rigzone as being necessary over 20 years to develop such fields. I can see that BP or Shell would rather work on that sort of project than a less certain project further south in the Atlantic. It's astonishing to think of a project yielding a potential 2billion barrels of oil can be dwarfed but that's the case. At least the tax environment is much better for the majors in the NFB to encourage them to dabble.

Well us Spivs are bullish people.