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

lynnzal

Thank you for that keep your input coming as most Interesting

lynnzal

this all sounds fantastic, however, my heads now hurting.

lets hope the rally to 69p and above is not to far away.

kind regards

marrow

http://www.elliottwave.com/education/welcome/5.htm

Today a White Opening Marubozu was formed. This shows that the day opened and then the prices continued to go up all day long without coming below the opening level thus forming a long white body, however prices did not close at the high of the day and thus they created an upper shadow.

A buy signal Eddy or lynnzal me thinks

Hi all

Thanks lynnzal for your explanation on the elliott wave.

Thanks aur for the link.

Marrow hope your head gets better.

berlingo you'll just have to put up with me. Joke.... squelch button is handy.

Markymar yes it is a buy signal, but as with all signals you need confirmation on the next days trading. Look at the intraday charts to see which direction DES is heading before making a decision. If you see a gap up this would be good, but you must make sure DES continues in the up direction during the day.
Having read about the elliott wave, it looks like lynnzal is suggesting the next move will take DES to about 1.11p. Could you confirm this please lynnzal ? If so it would also be confirmed by fibonacci retracement at about 1.07p. The open 0.3325p, high 0.3550p, low 0.3325p, close 0.3475p, combined volume 1.118m. Des was the highest mover in the oil & gas sector by % move on the day. The oil & gas sector was down today, so it looks like DES was in favor. Most UK indices were down also.




Good Luck all

Eddie

Hi all

Looking good ! First buy at 07:26 (25000) !


Desire Petroleum PLC
12 May 2005


Desire Petroleum plc

('Desire Petroleum')

3D Seismic Data Update

As previously announced, Desire Petroleum, has identified seven drilling
locations on Tranches C and D , in the North Falkland Basin. At four of these
locations, dual targets have been identified, resulting in eleven prospects in
total. These prospects have a potential of over two billion barrels of
recoverable oil.

Further recent interpretation of the 3D seismic data has yielded a further five
prospects. Three of these can be tested at the drilling locations already
identified. In addition, numerous less well defined leads have been identified
which will require further work before they can be moved to prospect status.

Dr Ian Duncan, Desire CEO, commented 'The more we work on the 3D seismic data,
the more prospectivity we see in this basin. The identification of these five
new prospects means that in the planned three well drilling campaign, all of the
wells will have dual objectives.'

Enquiries:

Dr. Ian Duncan, CEO, Desire Petroleum plc: 01684 568 993
Richard Redmayne, Seymour Pierce Limited: 020 7107 8000
Ewan Leggat




This information is provided by RNS
The company news service from the London Stock Exchange


Good Luck All

Eddie

Blue sky i hope Eddie all is going well

Thank you Eddie for the good news, so it's confirmed that we are looking at 6 prospects with the three drill campaign which improves the odds of at least one successful prospect to over 90% if the probability in general of a successful drill is at the 1 in 3 level. That now suggests that we are only left with a political risk (Argentina can agree on little with it's neighbours other than that FIs shouldn't be part of the EU) and an environmental risk (so much oil is found that a spill occurs - Peak seem to be very professionaL so should minimise this risk). That's enough of looking at the downside now what's the upside - the market works out that 2billion barrels of prospects may be discovered in Q1 2006 in which case the share price has just 6 months left to get to a more realistic figure of hmm 2billion * 0.3 * 0.85* 0.2*$50, oops my calculator needs a bigger display. An excellent start to the morning. Blue sky it is then m.

Golly jeepers, I think I am going to become a regular reader and poster on this board.

Previously used to use iii under another name, but there is a guy on there called KO 3pm who is driving me mental.........he spouts the biggest load of old crap ever and is nasty with it.

Hope you all don't mind a new boy.

By the way, I'm fat ,quite old and my wife calls me a git.

fatoldgit your welcome just dont let that prat know where am.

http://www.sartma.com/artd_1626_05_2005_1.html

Falklands : Desire 3D Seismic Identifies More Prospects
Submitted by Falkland Islands News Network (Juanita Brock) 12.05.2005 (Current Article)

Even though seven drilling locations have been identified by Desires 3D Seismic in Tranches C and D in the North Falkland Basin, still more areas of interest have been identified as the data from the seismic is worked and re-worked.

DESIRE 3D SEISMIC IDENTIFIES MORE PROSPECTS

By J. Brock (FINN)

Even though seven drilling locations have been identified by Desires 3D Seismic in Tranches C and D in the North Falkland Basin, still more areas of interest have been identified as the data from the seismic is worked and re-worked. Now, a further five prospects have been identified in the same Tranches. According to Dr. Ian Duncan, Desires CEO, three prospects can be tested at drilling locations already identified. However, there are numerous less well defined leads, which will need further work have been identified.

All three of the wells planned will now have dual objectives, he continued.

No doubt people who have invested in this stock will be pleased indeed, as it has increased in value since the dark days of 1999, when many of the original exploring companies pulled out and the price per barrel hovered around $10.00. Hang on to that stock is the best advice. It will go higher when and I stress when hydrocarbons have been generated during exploratory drilling. This is still a very high-risk venture and we wont know whats beneath the source rock until we hit something.

Thanks for the welcome Marky.......I won't tell him, he's busy being rude to Ruddyy at the moment.

fatoldgit -do what i do rec every post when someone has a crack at him like Awok and Ruddy its the only way it will get in to his thick head he has spoilt that B&B and his wise cracks at people and to call Capt Guns a ramper is out of order .


From stockmarket report

Desire Petroleum said that it had identified 5 additional prospects on Tranches C and D in the North Falkland Basin. No indication was given of their size, but it said that 11 previously-identified prospects had the potential to contain recoverable reserves of more than 2 billion barrels of oil. the shares added 0.9p to 35.9p. House broker Seymour Pierce said that waiting for drilling to get underway in the Falklands was no doubt frustrating for Desire Petroleum's management and shareholders alike. However, the broker argued that, in the meantime, the fact that the ongoing analysis of the 3D seismic data covering the acreage was yielding additional prospects and leads can only be interpreted positively.

Hi all

Welcom fatoldgit.

Thanks markymar.

I'm supprised looking at the buys vs sells on moneyam DES didn't end higher, there were a few late trades that may not have registered. Any way DES is up. The candle although opened hi closed low giving a bearish look. But the fact the candle didn't close below yesterdays close or even into yesterdays candle, takes some of the bearishness away. We will have to look at tomorrows trading to see which way the market intends to go. The oil & gas sector was down, which didn't help. DES was 7th out of the 11 climbers, so still in favour. DES is still at 2nd place in the oil & gas sector for % rise over the past 250 trading days. The open 0.3650p, high 0.3650p, low 0.3525p, close 0.3525p, combined volume 951.0 K.

I think the 3D survey news is just great !






Good Luck All

Eddie

http://ogj.pennnet.com/articles/article_display.cfm?Section=ONART&C=TOPST&ARTICLE_ID=227586&p=9

Desire Petroleum identifies offshore Falklands targets


Desire Petroleum, a UK company, has identified seven drilling locations on Tranches C and D in the North Falkland basin, offshore South America. At four of these locations, the company has identified dual targets resulting in 11 total prospects. Desire estimates that the prospects have a potential of over 2 Bbbl of recoverable oil.

Further recent interpretation of the 3D seismic data has yielded a further five prospects, Desire reports. Three of them the operator can test at the drilling locations already identified. In addition, it has identified numerous less-defined leads that will require further work before they can be moved to prospect status, the company says.

"The more we work on the 3D seismic data, the more prospectivity we see in this basin," says Ian Duncan, Desire CEO. "The identification of these five new prospects means that in the planned three-well drilling campaign, all of the wells will have dual objectives."

Desire was established in 1996 to participate in the first round of licensing offshore the Falkland Islands. The Falkland Islands lie 300 mi east of the South American mainland. Desire holds a 100% interest in 3,650 sq km (equivalent to 13.5 UK North Sea blocks) in the North Falkland basin. These interests are in Tranches C, D, I, and L. Desire also holds a 12.5% interest in Tranche F, operated by Talisman Energy. Six wells were drilled in this basin in 1998. Five wells recorded oil or oil and gas shows. According to Desire, these wells established the presence of one of the richest source rocks in the world. The British Geological Survey estimates that over 60 Bbbl of oil may have been generated and expelled from this source rock.

http://www.rigzone.com/news/article.asp?a_id=22486

Desire Petroleum Identifies More Targets in North Falkland B
Desire Petroleum Thursday, May 12, 2005


Desire Petroleum has identified seven drilling locations on Tranches C and D, in the North Falkland Basin. At four of these locations, dual targets have been identified, resulting in eleven prospects in total. These prospects have a potential of over two billion barrels of recoverable oil.
Further recent interpretation of the 3D seismic data has yielded a further five prospects. Three of these can be tested at the drilling locations already identified. In addition, numerous less well defined leads have been identified which will require further work before they can be moved to prospect status.

Dr. Ian Duncan, Desire CEO, commented "The more we work on the 3D seismic data, the more prospectivity we see in this basin. The identification of these five new prospects means that in the planned three well drilling campaign, all of the wells will have dual objectives."

It's true -Jennifer lookalike and I are through.

Guys

Historically des moves forward over 3 days on good news. If rig announcement is made at current levels I see 35p + 30% day 1, 30% day 2, 15% day 3, 1 week later settling back to 60p. IMO this will climb to 100p at time of drilling with big up and down daily swings the closer to results we get.

How do you fellas see things panning out?

Hopefully we are nearly there, keep the faith.

marrow

Marrow i still think we have wait till news of a rig which will have an open contract so if more holes drilled that will be possible.

Also my expectation of the share price are a lot higher than yours last time it had a high of 4+ when drilling last time.Everything is better this time with 3D and modeling been done over many years and peak managment in charge and this time high oil price and Desire in charge a diffrent ball game.

Hi Eddie & all, welcome Fatoldgit,
sorry for the delay in getting back to you with the price projections. They are calculated as follows...

6.5p - 69.75p (wave 1) = 63.25p
projected from the current corrective (wave 2) low at 31.5p gives a 'minimum' target at 94.75p. As wave 3's are never the shortest, it is reasonable to suggest that it will extend beyond the minimum objective to the next likely level at 134.0p, calculated thus -
63.25p x 1.618 = 102.34p
102.34p + 31.5p = 134p (rounded up).

Were still not out of the dark yet however and current consolidation over 31.5p warns of near-term extension of the corrective decline from 69.75p. Obviously the general state of the equity markets isn't helping us here. A break above the 40.5p/41.0p resistance area would do a lot to improve the picture.
Lynnzal