Ocean Guardian – Drilling – Falklands?

[KeyserSoze]

Is there anybody on the Ocean Guardian who can tell us if you’ve had any sign of hydrocarbons on the recent side track!!!

There’s lots of people dying to know! 😆

[low_ir]

Nice try Keyser, and I wish you all the best with your request.
I believe there’s a comms lock down on there at the moment, and after the last ‘leak’ a couple of folks lost their jobs. There are many people hoping for good news from there (me included).

Maybe pick up a copy of The Sun tomorrow, they seem to be the first with any info, well, they were last time with the duster.

[KeyserSoze]

Cheers low!

I didn’t expect a proper reply I must admit, thought I would raise the subject though as there is a lot of interest at the minute. Looking at the views so far seems to confirm that.

Yes the Sun has been a bit forecasty as of late hasn’t it?

I think Monday could be make or break. There are so many rumours flying around that it has been a bit of a rollercoaster the last few days.

Wishing us all the best with our investment!

[James McLauchlan]

A leak might be interesting (leak of information I mean!) 😉

[ROV_VALLEY_COMMANDO]

Ah, there are going to be a lot of ROV bods pissed off when Desire goes tits, nowt going to happen for Desire down in the FI. BP? maybe as they have the resources to pump in. one lad I know has wasted £100 grand buying up Desire shares, f***ing idiot! I guess he will be looking for his tax back next year, O he works on a rig, Muppet!
I hope I am wrong, but???

[Anonymous]

Commando – a typical post by someone who has no idea of trading and certainly no idea of what is happening in the FI 🙄

Maybe your pal bought DES at 35p, would he then be such an idiot?

Perhaps you could explain your thoughts and throw some facts in to back them up? But please, none of the halfwit talk you’ve written so far 😆

And no, I don’t hold any DES shares – yet 😉

[James McLauchlan]

ROV_VALLEY_COMMANDO

How can you post all that abusive drivel and then say "I hope I am wrong"?

As for your ‘Waste of money.. Muppet ‘ type of expression. I’d be interested to hear your investment experience and what you base your opinion on. The program is well funded.. I guess the money men behind it are also all muppets in your eyes.

Contemplate that when you are on the winch next!

Yes, it’s what we might term as a risky play but it could go either way.

Imagine that the guy invested 100k and bought some time last week at 80p. Based on Fridays close his 125,000 shares (last trade 97p) would be worth £118,750. So in a week he is up £18,750
The so called ‘muppet’ at this point in time is who then?

If they hit pay dirt then he also wins. The shares could, given time, conceivably multiply in value ten fold. The ‘muppet‘ could probably retire, with no need to claim seafarers tax ever again.

On the rig unofficial Comms are locked down right now, other than a crew change that is due or has happened. Not sure on the state of play on that.

For others that may wish to be better informed…
Although I am not a great lover of trading discussion forums (as there is often so much misleading information posted)… people may wish to have a read of this thread on DES.L

http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3ADES.L&threshold=0&pageno=1&it=le

The buzz is the news is/will be good, but again… it’s forum stuff so take it with a pinch of salt as there is always a lot of hype and down playing happening on these public groups.

Sure, the whole lot could prove to be a total disappointment but, as we all know, that is the nature of the oil industry and share trading… I would not call anyone a muppet that loses as, equally, they could win big style.
The maximum potential loss here is 100k… the maximum win is almost through the roof!

I also do not hold DES.L
I do hold BP. though 😉

[KeyserSoze]

Nice one James. There are many people who are quick to judge others who they see as trying to make a fast buck. I have appended a reply which was sent into the Sunday Times in response to one such article…..

BUSINESS LETTERS

Risk-taking brings oil riches

YOUR report last week on the "Sheikhs of the South Atlantic" rightly pointed out some of the risks of investing in frontier oil exploration companies, in this particular instance those around the Falkland Islands. However, it somewhat overlooked the portentially enormous benefits of the activity taking place in that region.
If the explorers of the 1960s and 1970s had taken a cautious approach, there would have been no North Sea oil, no billion-pound bonanza for the Treasury and none of the jobs and technology development that followed.

The fact that five small British companies have, with the help of many British institutional and private investors, led this exploration effort should be applauded, not scorned.
At the CBI annual conference last monday, speakers espoused the need for British entrepreneurial spirit. I would suggest that our efforts in the South Atlantic are an example of such endeavour.
The risks of such pioneering exploration are clear and we certainly do not hide these from our investors, but the rewards could be truly substantial.
Of course, it could all to come to nothing, but given the potential rewards, surely it is a venture worth pursuing?

Tim Bushell
Chief executive, Falklands Oil and Gas
London W1
——————————————————————————–

[James McLauchlan]

The times letter makes very relevant point or two and adds argument to the need for more entrepreneurial endeavours by British industry instead of the lackluster no balls for anything performance we have experienced over the last few decades.

I sincerely hope I didn’t go down there in a green uniform just to save some bloody sheep!

There was talk of oil then and now something is being done about it.

Falklands drilling? ….. Good on them I say.

[James McLauchlan]

2 November 2010

Desire Petroleum plc

("Desire" or "the Company")

Drilling Update

Desire Petroleum plc (AIM:DES), the oil and gas company wholly focussed on the North Falkland Basin, wishes to provide a further update on the 14/15-1Z sidetrack well on the Rachel prospect.
Clean out of the sidetrack has not proved possible due to mechanical failure of the wellbore and it will therefore not be possible to obtain any wireline logging data from this well. However, the data acquired during drilling operations (from logging while drilling tools and geological data from cuttings) indicates that around 25 metres of sand with oil shows was encountered. However, in the absence of wireline logging data it is not possible to fully assess the significance of these results and, in particular, reservoir properties and the hydrocarbon saturations associated with these sands cannot be confirmed.

The current well will be plugged and abandoned prior to moving the drilling rig to a new location on the Rachel prospect.
The data collected from both the Rachel main bore and sidetrack will allow the selection of an optimum location to drill a vertical well to further evaluate the potential of the Rachel prospect and undertake a comprehensive logging programme. Undertaking the logging programme in a vertical well should avoid the geomechanical problems encountered in the sidetrack which were shown to be a consequence of drilling a deviated wellbore in an area where very little regional stress data is currently available.
This proposed move to another location on the Rachel prospect is subject to obtaining all necessary regulatory and partner approvals in a short time frame. In the event these approvals are not rapidly forthcoming, the rig will instead move to drill the Dawn/Jacinta prospect and return to Rachel later in the drilling programme.
Commenting on the well, Stephen Phipps, Chairman of Desire, said "It is disappointing that we have been unable to collect all the data that would have enabled us to fully evaluate the Rachel sidetrack well. However the data that we have been able to gather has given us sufficient encouragement to drill another well on the Rachel prospect. Following the Sea Lion oil discovery by Rockhopper Exploration, this is the second well to indicate the presence of hydrocarbons in what is now termed the east flank play fairway and gives us encouragement that further oil fields will be discovered in this area."

Enquiries:
Desire Petroleum plc
020 7436 0423
Stephen Phipps, Chairman
Dr Ian Duncan, Chief Executive Officer

Seymour Pierce Limited
020 7107 8000
Jonathan Wright / Stewart Dickson, Corporate Finance
Richard Redmayne / Paul Jewell, Corporate Broking

Buchanan Communications
020 7466 5000
Ben Romney / Tim Thompson

This announcement has been reviewed by Dr Ian Duncan, Chief Executive Officer of Desire, for the purposes of the current Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in June 2009. Dr Duncan is a Fellow of the Geological Society, Chartered Geologist, and a member of the American Association of Petroleum Geologists with over 35 years experience in petroleum exploration and management.

[KeyserSoze]

Hopefully the new well will get the go ahead adjacent to the current location. The general concensus seems to be that a decent show would prove up the field and appraise other finds.

Personally i’m getting quite "Xcited" about some of the goings on in the North Sea at the moment! 😉

[low_ir]

Fingers crossed for that one mate.

I’m "Xcited" too 😉

[Anonymous]

Oh dear…………….. this thread is starting to sound like those halfwit BB posts on numerous financial sites 🙄

Personal finances should be just that – personal 😉 I couldn’t care less who makes what unless they’re offering to give me some?!

Now then, back to ROVs………….

😆

[Steve]

….

[James McLauchlan]

09 November 2010

Desire Petroleum plc
("Desire" or "the Company")

Rachel North
Desire Petroleum plc (AIM:DES) the oil and gas company wholly focused on the North Falkland Basin, wishes to announce that both regulatory and partner approvals have been granted for Desire to drill the 14/15-2 Rachel North well.

The 14/15-1 well has been plugged and abandoned and the rig is currently waiting on weather to move to the Rachel North location.
The Rachel North well will be drilled vertically with an estimated total depth of 3,050 metres. The bottom hole location will be 1.7 kilometres from the Rachel sidetrack 14/15-1Z bottom hole location. Drilling operations are expected to last around 35 days.
It is intended that this well will evaluate the sands with oil shows encountered in the Rachel sidetrack as well as a number of possible additional sands not seen in the sidetrack.
Desire wishes to thank both the regulatory authorities and its partner Rockhopper Exploration plc for their speedy approvals to move to the new Rachel North location.
A further announcement will be made once the well has been spudded.

Enquiries:

Desire Petroleum plc +44 20 7436 0423
Stephen Phipps, Chairman
Dr Ian Duncan, Chief Executive Officer

Seymour Pierce Limited +44 20 7107 8000
Jonathan Wright / Stewart Dickson, Corporate Finance
Richard Redmayne / Paul Jewell, Corporate Broking

Buchanan Communications +44 20 7466 5000
Ben Romney
Tim Thompson
This announcement has been reviewed by Dr Ian Duncan, Chief Executive Officer of Desire, for the purposes of the current Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in June 2009. Dr Duncan is a Fellow of the Geological Society, Chartered Geologist, and a member of the American Association of Petroleum Geologists with over 35 years experience in petroleum exploration and management.

[Author]

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