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Desire Petroleum was founded in 1996 by Dr Colin Phipps, a former geologist for Royal Dutch Shell. The company is named after Desire, the ship, captained by John Davis, which discovered the Falkland Islands in 1592. In 1998 the company was floated on the Alternative Investment Market. Desire Petroleum were awarded licences for drilling in the Falklands in 1997, and test drilling was carried out in 1998. Oil was not found in commercial quantities, and the price of oil, until 2007-8 was not high enough to make it viable, and exploration companies left the area. A 3D seismic survey was acquired in 2004 which showed great oil potential.
Falklands organizing grass root events to celebrate the referendum. http://en.mercopress.com/2013/03/08/falklands-organizing-grass-root-events-to-celebrate-the-referendum
Yup yupyup some pundit on twitters mentioned des today...apparently big buys coming in...
Am Wishing we see 24p , not a huge gamble but I think we could tick up slowly, XEL seems to do it easily from 86p to 110p....can't see why DES CANT, American Share FTSE is up up up ... come on DES give us some success for U.K
come on DESSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS shoot up soon !
Investment is the key to DEs moving high, I think in the short run I would be happy to see it around 22-23p
Does anyone know whats going on in this share without chatting bob ? anyone have a clear view on desire ? lol I don't have a clue, why is the SP Dropping so much ? should be hanging on above 20p shouldn't it ?
I am seriously hopeful this share will pick up...hoping for news soon...
I still believe should there be a combined investment into des it could be very profitable for all....seriously des has potential or the government wouldnt be as assertive to the cause with military intervention or international diplomacy...clearly there know there is a possibility of a fortress there...
only main question is when is this news coming ? and how can we get any closer to the truth in falklands ?
To be fair it has to be good prospects.. i know people say they only hold water there...but the fact is if it was just water then why is our government so adament of sending the army to protect falklands and with a lot of re-inforcement, we all know this only happens if there is a reward and i think that has to be OIL ! the biggest thing going...hmmm
its had around 5 million put back into its market cap....but how come sp hasn't shot up ?
Do we need to have faith in god for this share to go up ? seriously i pray to god this share goes up to atleast 40p am happy with that...ah hope alot to ask for ?
come on DES 23p tomorrow lol or soon please !
“We are delighted that this CPR confirms our view that the Desire licenses have excellent remaining exploration potential. Our immediate priority will be to promote our extensive prospect inventory and to attract further investment into our licenses”, said Mr. Phipps. Desire said it now had 41 oil prospects and 4 gas prospects, 12 of which had best case prospective resources of over 100 million barrels of stock tank oil.
http://www.guardian.co.uk/business/2012/nov/23/desire-petroleum-optimistic-falklands-oil-prospects
Analyst Sam Wahab, at Seymour Pierce, who rates the shares a buy with a target price of 45p, said: "Desire requires considerable funding to prove up these assets. Whilst the north Falkland basin has been validated to a certain extent by Premier Oil's farm in the Sea Lion field this year, significant appraisal activity will be required to validate the region."
Desire said a report into its Sea Lion complex in the north Falklands by Senergy, an independent consultancy, put the chance of commercial development at 80% – although the figure for its Liz gas condensate discovery was just 25%. Desire now has 41 oil prospects and four gas prospects. Chairman Stephen Phipps said: "We are delighted that this [report] confirms our view that the Desire licences have excellent remaining exploration potential ... Our immediate priority will be to promote our extensive prospect inventory and to attract further investment into our licences."