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Looks like DES have found oil then :)

Oil stocks weak today due to falling oil prices and markets in the red.

But.... could be a strong DES/RKH/ARG end of this week and next week :) !!!!

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gclark25 / wine-stock / borgo ARE ALL confirming strong oil shows for Ninky drilling in the 1st target zone of the 4.

Looks like it could well now be very good news coming, bring it on next week :)

Seeing as pro starts most rumours.....no surprise to him then.,.

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Synch's Sea Lion and Ninky connection drawing is worth a view.

http://img600.imageshack.us/i/sealionpost14104andnink.jpg/

It will be wrong in many ways, however the errors should get less as more results come in over time.


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Still doing the dodgy links I see....well I will not be clicking on them ....

No dodgy links - you have a dodgy pc it seems thats all !! :)

borgo just posted on III, DES drill is over, initial logs run and result is good. Expect RNS Tuesday or Wednesday.


So, a "good" result means at least something positive, we shall see the reality when the RNS comes out. Monday could be interesting now.

As ever, DYOR and do not trust anyone !

especially some unknown punter on another bb!

An extra 1.5m DES shares were shorted on Wed and Thu, taking the total to 13.5m shares shorted on DES at Thursday close.

I would guess some closed on Friday but there is a lot of stock outstanding.

Obviously the big shorters are hoping for pre-emption rights in the coming placing so they can close their shorts with new stock from the placing.

However there is going to be a few million of shorts that will have to close on any good news, so Monday and Tuesday could be "spikey" on DES........ :)

Good news from DES and RKH should see a nice spike upwards as well, and of course ARG :)

http://www.proactiveinvestors.co.uk/companies/news/27424/oil-prices-rise-on-us-industrial-production-data-27424.html

Oil prices rise on US industrial production data

Sat 1:30 pm by Sergei Balashov

Crude oil futures climbed at the end of the week on bullish notes from analysts, which offset some of the negative impact of bearish projections from Goldman Sachs (NYSE:GS), and US industrial production data.

The Federal Reserve said on Friday that industrial production climbed 0.8 percent in March following a 0.1 percent increase in February. This marked an eighth straight month of growth. Earlier that day, oil prices got hit by the news that inflation in China accelerated to 5.4 percent in March, while economic growth slowed to 9.7 percent year on year in the first quarter, raising speculation that the government will go for yet another interest rate hike.

The prices have also overcome the news that jobless claims in the US unexpectedly jumped 27,000 to 412,000, crossing the 400,000 threshold for the first time in five weeks to suggest a slowdown in the recovery in the job market.

In addition to that, oil has been under pressure from a Goldman Sachs note, which came out early this week, advising the investment banks clients to exit long positions on several commodities, including oil, cotton and copper. Goldman said that oil prices could soon fall after unrest in the oil-rich Middle East-North Africa region drove the prices to two and a half year highs, projecting a substantial pullback in Brent crude.

The report was countered by a note from Barclays (LON:BARC) on Friday. Barclays oil analyst Paul Horsnell stated that the prices are yet to reach their highs, projecting crude to hit US$185/barrel by 2020.

This weeks inventories report from the US Department of Energy added optimism to the market, showing that while crude oil stockpile sin the US posted a larger than expected gain of 1.63 million barrels, gasoline stocks shed a massive 7 million barrels, reflecting an increase in demand.

US light, sweet crude for May delivery, which is currently the most actively traded contract on the New York Mercantile Exchange (NYMEX), reached US$109.66/barrel, while June crude stood at US$110.22/barrel.

May Brent crude last traded at US$123.73/barrel on the ICE Exchange.

Oil and gas stocks were in decline this week. BP (LON:BP) retreated from 478 pence to 455 pence, while fellow supermajor Royal Dutch Shell (LON:RDSB) dropped from 2,286 pence to 2,220 pence.

Tullow Oil (LON:TLW) declined from 1,475 pence to 1,402 pence, BG Group (LON:BG) slipped from 1,548 pence to 1,498 pence and Cairn Energy (LON:CNE) edged lower from 445 pence to 441 pence.

IF, and its still an IF, DES have a strike at Ninky then I expect a whole host of RNS, similar to the Sea Lion initial discovery RNS.

DES have to fund raise, its therefore in their own interest to keep news flowing and flowing and ripping shorters to pieces, as they were ripped by RKH and the flow of RNS that followed the initial Sea Lion discovery.

Will be very interesting IF they have a discovery.

Like a discovery RNS, then completion of logging RNS, then technical update RNS, then oil samples results RNS etc..... so that the shorters are running scared everyday in case another RNS pops out.

Just need an initial discovery thats all, then the games can begin on DES.......

DES fail again, at least they got some oil this time, however, not very much of it and poor quality sands.

Looks good for ARG and RKH and again pushes the "northerly" migration potential and the fact that DES appear to have the duff licenses.

We can now concentrate on the flow test due up for RKH next, and its 3 wells back to back for RKH.

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Nice news on ARG today, they will have fast track 3D data same as RKH for late July, really is time anyone in DES shifted over to ARG/RKH now.

Looks to me like DES really do have the duff license area, sad for DES holders but thats the way it is sometimes.

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RKH is grossly undervalued anyway..... so it was never going to drop much on bad DES news.