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

good call eddie

GRWA have no money full stop and spoke to Derek Williams and i just felt they were happy with there holding they have at moment and last time they both never took up there share at 10p so i would of thought no to 45p.

Could be wrong but hay thats more shares for me at 45p

Good shout Eddie

marky,

Yes you could be wrong coud`nt you?????????????

Do you know any diffrent eacninewhy , GRWA have no money they sold 250,000 share last week.

marky,

Does`nt take a lot of working out...just simple maths.

Perhaps we will get another RNS later saying...we are now holding over 3%.

Why has the number of BUY trades in DES gone to almost zero 0?????????

Hi All
Hi Marky , yes plenty of skiing in Canada. The views are to die for at the summit and the skiing is great too.Highly recommend a visit.
Hi Eddie , i think the chart should still show the white candle with shadow on the top meaning a good buy ?? Good call this morning Eddie. What about hampi man comments on post 905 , is that right ?
Now DO i top up tom or Wed?? That is the $64000 question ?
Thanks
Berlingo

Hi all,

Its a must for me next year i think if the shares go to the price i think they will Belingo and Hampi i think it is a glitch in the system on moneyam its like if you keep clicking on trades after doing it you get live trade prices all day for free.

A lot more buys to day and the MMs how they brought the price down i dont know i thought today we were going to knock on the door of 60p today and there was a few T trades went through today as well.

Well Eddie lets see what you see ?


Regards all

Markymar

Hi all

Better volume today 2.25m, hope it increases as the week goes on. If you draw a line & link the tops of all three shadows (long thin lines on top of the candles from the top doji to todays) you will see DES has tested the resistance area. I think the resistance will be realitivly weak as it is at the bottom of the chart. The open was 0.535p, high 0.570p, low 0.530p, close 0.545p. This indicates the price stayed above the open but had some resistance round about the line you've drawn, which is only 0.0015p away. So all being well DES will soon pass through the resistance area. Maybe tomorrow.





Good Luck All

Eddie

IF the Open Offer is undersubscribed how much will the price fall if at all as speculation might hold it firm ? Last time i took up an Open offer the price FELL quite rapidly , as the offer was not sold out !
This is the big week . Has DES raised money like this before ? Bit nervous that two directors only have taken a small entitlement to what they could have !
Regards

Hi blingo

If you click on the DES link above (24/12/03) you will see the last time DES raised money. This was for the 3D survey, the share price was at 0.10p at the time. DES has had the backing of the market since then. I don't see any reason for this to change. As you say there is always a chance DES could be under subscribed. But I can't see it. With all that potential oil already identified, drilling has to be the next step. I don't know if the last few trades are correct, if they are we may open with a gap up. I hope so as this will be bullish !


Kind Regards

Eddie

Thanks Eddie

Hi all

Hope these turn out to be right.

Prices as of this time. mid 0.5550p, + 0.01p, up 1.83%, bid 0.5400p, offer 0.5700p, close 0.5450p

Bummer it's changed back to 0.00% change as I was typing. Lets hope we get a good day any way !


Good Luck All

Eddie

Berlingo, I would be very surprised to find that the Open Offer is not oversubscribed. We don't have long to wait now !

i see the 200,000 and 100,000 were buys not sells due to time at 8.36am

Not long now Oily i bet there are a lot of traders sratching there heads with ADVFN down.

Markymar, Nice thought isn't it? Couple of days at most now and then Desire will really storm ahead. We should get some exciting newsflow in the second half of the week. Its like being a kid on Christmas Eve all over again!

hello chaps,
Whilst the EGM may be very interesting, from what I understand it will be a fairly formal business like affair dealing with the propositions at hand. There will not be presentations and updates from the Directors like at an AGM (which will be in May).
Given the above lets not take for granted the long awaited lift off just yet. Infact, if after all the expectation nothing is forthcoming, there may be some who bank their allocation and hope to buy in lower next week.

Hi Jon,

I think the news we all want to know is that the rights issue has been oversubcribed and that will be good news in its self.

I think there will be certain question asked at the EGM which shed some light on certain things.

As you said the EGM will be pretty bog standard stuff but questions will be asked and teeth pulled, i cant make it but know of a few people going with plyers in hand.

Just i quick mention that on moneyam are doing free level 2 untill March the 14th just go to investors room and click on code and you have your free level 2

Hi Marky, I am not attending either.
but want to know:

1) Why if the data is so good we have no major or even minor company with a track record become involved.
2) Why did it take 6 years to decide to go it alone (effectively)
3) What guarantees do we have in place that Rockhopper have the finances in to provide upto 30% drilling costs.
4) How much input will rockhopper (& any other partners) have in the driling process.
5) Where are the 3 drilling locations.
6) HAve they got a rig in mind yet.
7) What about seabed surveys.
8) Who will be running the drilling and from where?
9) What about all the other contracts(casing, fluids, logging, standby and frieght boats, ROV's etc when are these going out to tender) - huge amount of work.
10) What about helicpter infrastructure (it was Bristows previously)
11) Realistic time estimate for drilling.

And the unpopular questions:
12) What services does "Phipps and Co" undertake to receive 372,000 pounds in fees annually.
12) Why did the directors not take up their 1 for 8 rights?
14) Why only 3 wells, this falls well short of industry norm?
15) How is Phipps Snr's health.
16) Who are the institutions who have taken up shares at 45p, why is there no 12 month tie in preventing them from dumping them next week?
17) A load of share options open up in May for all the directors, will they be taking those instead!

And finally:
18) can we expect more partners and well to be announced

Feel free to maul & add!
Best wishes
Jon