10 Feb 2010 12:17
| For immediate release | 10 February 2010 |
Desire Petroleum plc
("Desire" or "the Company")
Directors' Shareholdings
The Company announces that on 10 February 2010 it was informed that Phipps & Company Limited sold 2,180,000 ordinary shares at an average price of 98.81p per share. The Company was further informed that Ian Duncan, Chief Executive Officer, sold 215,000 ordinary shares at an average price of 98.81p per share.
Details of these transactions and their effect on the shareholdings of the relevant Directors are set out below:
| Director | Pre-tranaaction shareholding | No. of shares sold | Post-transaction shareholding
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| Stephen Phipps | 38,882,633* (11.9%) | 2,180,000 | 36,702,633 (11.3%) |
| Ian Duncan | 700,169** (0.21%) | 215,000 | 485,169 (0.15%) |
| Anna Neve | 38,662,633* (11.9%) | 2,180,000 | 36,482,633 (11.3%) |
* These include an interest in 33,532,633 shares held by Phipps & Company Limited and 2,840,000 shares held by the Phipps & Company Retirement Benefit Scheme.
** This includes 107,143 shares held by Chase Energy Limited.
These sales represent the final sales by Phipps & Co and Ian Duncan in relation to their option exercise announced on 4 February 2010.
For further information please contact:
| Desire Petroleum plc | 020 7436 0423 |
| Stephen Phipps, Chairman |
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| Dr Ian Duncan, Chief Executive Officer |
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| Seymour Pierce | 020 7107 8000 |
| Jonathan Wright |
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| Buchanan Communications | 020 7466 5000 |
| Ben Willey Ben Romney |
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DES.L (DES)