17 May 2010 07:00
For immediate release 17 May 2010
Desire Petroleum plc
("Desire" or the "Company")
Director/PDMR Shareholding
Further to the announcement made on 20 January 2009, the Company wishes to make the following announcement updating the position of certain shares in the Company held by Phipps & Company Ltd and the Phipps &Company Retirement Benefit Scheme.
As a result of scheduled loan repayments to the Phipps & Company Retirement Benefit Scheme from Phipps & Company Ltd, the security granted by Phipps & Company Ltd over certain Desire shares held by it has been reduced from 10,887,500 Desire shares to 4,000,000 Desire shares.
Both Stephen Phipps and Anna Neve, directors of Desire, are directors and shareholders of Phipps and Company Ltd and are beneficiaries of the Phipps and Company Retirement Scheme.
There are no changes to the beneficial or potential beneficial ownership of the shares in Desire held by Phipps and Company Ltd as a consequence of this change.
For further information please contact:
| Desire Petroleum plc | 020 7436 0423 |
| Stephen Phipps, Chairman |
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| Seymour Pierce Limited | 020 7107 8000 |
| Jonathan Wright |
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| Buchanan Communications | 020 7466 5000 |
| Ben Romney |
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DES.L (DES)