I think a ViP2 Financial Traders clique is in order

[Desire]

What price did you all get involved with RKH at? I'm so pissed I didn't read this thread yesterday. Its currently at 4.20 at the moment not sure its worth jumping in now. Might try that China fund out though.

[Captain Planet]

Soariiiiinnngggggggg

[Captain Planet]

BTW Check our Desire petroleum (DES) another company drilling in the Falklands basin

[Colin Turnover]

Yeah DES has got 4 wells coming up. It's a bit overvalued ATM but I think there's a 50/50 chance they will hit oil at Rachel. Will post more later if I remember.

[Colin Turnover]

^^^ shows the licenses the 3 companies (RKH, ARG and DES) have and their prospects in the North Falklands Basin.

(BOR and FOGL have the licenses in the South Basin but thats a next ting.)

[Colin Turnover]

Below - the interim results for DES from the 17th Sept 2010 Also explains better than I can why I think Rachel has a 50/50 chance and their plans going forward.

Desire Petroleum plc

("Desire" or "the Company")

Interim Results

Desire Petroleum plc (AIM:DES) the exploration company focusing on the North

Falkland Basin, today announces its Interim Results for the six months ended 30

June 2010.

Highlights:

� Gas discovery in two zones in the Liz well

� Potentially significant oil field discovered by Rockhopper

Exploration on the Sea Lion Prospect has de-risked oil exploration in North

Falklands Basin

� Ocean Guardian rig to return to Desire

o Likely to drill up to 4 wells back to back

o Rachel prospect next to be drilled late September / early October

� Loss for the period $6.4m (2009: $265,000)

Commenting on the results, Stephen Phipps, Chairman of Desire, said:

"This drilling campaign in the North Falkland Basin (NFB) has started very

positively. Our first well Liz discovered gas in two zones and on the Sea Lion

prospect drilled by Rockhopper Exploration, a potentially significant oil field

has been discovered. The confirmation of oil in the NFB has clearly

significantly de-risked the rest of the drilling campaign. With the Ocean

Guardian rig due to return to Desire within the month, we now enter an exciting

period of drilling activity which may see us drilling up to four wells back to

back."

The current North Falkland Basin (NFB) drilling campaign has started very

positively. Gas has been discovered by Desire in two zones in the Liz well and

a potentially significant oil field has been discovered by Rockhopper

Exploration on the Sea Lion Prospect. The third well drilled to date, the

Ernest well by Rockhopper, was plugged and abandoned as a dry hole. Currently

the Ocean Guardian drilling rig is with Rockhopper for the flow test on the Sea

Lion discovery and following this the rig will revert to Desire to drill our

Rachel prospect. This is likely to be in late September or early October.

With the Sea Lion oil discovery and the Liz gas discovery the NFB has entered a

new phase of exploration. However exploration is still in its infancy and a

great deal has still to be learned about this area. The Sea Lion discovery is

particularly significant as this has demonstrated that oil has been trapped in

potentially significant quantities in a good quality reservoir. The oil at Sea

Lion is trapped in a fan sandstone and we believe that this is one of a number

of such fan sandstones on the eastern flank of the NFB. Oil fields rarely occur

singly and we would expect a number of further oil discoveries in this play type

on the east flank fan play fairway. We believe that over 50% of this play type

is on Desire acreage.

Accordingly, since the Sea Lion discovery, Desire's geoscience effort has

concentrated on identifying similar prospects for early drilling. In addition

to the already recognised Rachel, Anna and Ninky prospects an exciting new

prospect named Elaine has been identified.

As noted above the next prospect to be drilled by Desire will be Rachel. In the

Competent Persons Report (CPR) prepared by Senergy (GB) Ltd and published by

Desire late last year, using a reservoir thickness range of 30 to 85 metres,

Senergy (GB) Ltd calculated a gross unrisked mean recoverable potential of 318

million barrels of oil. As a result of further work Desire now believe that the

sand thickness in Rachel may exceed this range in a series of stacked sands,

with a consequent increase in the recoverable potential. In addition the Rachel

prospect has been significantly de-risked as a result of the Sea Lion discovery.

Geoscience work is ongoing to evaluate which of the other prospects in this play

type on the eastern flank are best for drilling in the current campaign.

Unfortunately, the full nature of these fan plays can only be identified on 3D

data and currently Desire has 3D seismic coverage over only half the relevant

acreage. Therefore, Desire intends to investigate the possibility of acquiring

further 3D seismic, possibly in conjunction with other NFB operators to mitigate

the costs.

As previously indicated, the Sea Lion oil discovery in the east of the NFB has

meant that further evaluation of the Liz gas discovery has been given a lower

priority. The Liz dry gas discovery and the gas condensate discovery are in

reservoirs of uncertain lithology and quality and studies are continuing to get

a better understanding of what we are dealing with. In addition, the trapping

mechanism for both discoveries is uncertain, both are stratigraphic traps, and

much work is required to identify these traps and associated volumes. As a

result Desire believes that further appraisal of the area is unlikely until a

later stage in the development of the NFB.

From the outset Desire has designed its drilling campaign with flexibility in

mind. Hence our ability to move Rachel and other eastern flank prospects to the

head of our drilling plans post the Sea Lion discovery. However, beginning with

the Rachel well Desire is likely to drill up to four wells for our own account

back to back. The number of wells to be drilled could be changed should Desire

decide to sidetrack or test one or more of the wells. In addition a further two

wells may be drilled by our partner, Arcadia Petroleum Ltd, when their plans for

this drilling programme have been finalised. In order to give ourselves time to

evaluate the results of the Rachel well we are most likely to drill the

Dawn/Jacinta prospect following the Rachel well. Despite the disappointing

Ernest well result the Dawn/Jacinta prospect continues to excite us and we

believe that there may be significant hydrocarbons in the southern licences.

Dawn is a possible Jurassic horst block structure which Senergy (GB) Ltd in the

CPR calculate has a net unrisked mean recoverable potential of 124 million

barrels. Jacinta is an Aptian stratigraphic prospect overlying the Dawn target

which Senergy (GB) Ltd assess to have a net unrisked mean recoverable potential

of 797 million barrels. These prospects may have been sourced from the main

basin to the north which would not have been possible for Ernest which instead

relied on a local source.

The loss for the six months ended 30 June 2010 was $6,398,000, of which exchange

losses were $ 5,954,000, compared with a loss for the corresponding period of

$265,000. Administrative expenses of $525,000 were lower than the previous

half-year, largely due to increased recharges to joint venture licences

resulting from drilling activity. The non-cash charge for share-based payment at

$29,000 continues to decline as the economic cost of share-based compensation

plans is largely expensed. The exchange loss for the period of $5,954,000

arises primarily on Sterling cash balances held to meet exploration costs, and

follows a weakening of the pound against the dollar between the previous

year-end and the date of this report. These sterling balances are a combination

of those held directly by Desire and those in escrow accounts.

Investment revenues of $110,000 are higher than the corresponding period, with

the

benefit of increased cash balances offset by interest rates remaining at

historically low

levels.

Updated details of our prospects can be found on the Desire website:

www.desireplc.co.uk.

[Colin Turnover]

ARG currently 40ish pence but they're behind DES and RKH in their exploration programme (pretty much at where the other two companies were 18-24 months ago).

Planning to commence drilling in the last half of 2011 so would be a good bet for a long term play I reckon. I'll be putting suttin into there at some point.

[Captain Planet]

Yeah with that price you can hardly go wrong, unles some severe mismanagement takes place, once the Student loan drops i'm in.

I feel it's a bit late to jump into the more oil DES discovers the more likely I will invest into ARG if not already, but do you still think DES is still worth the punt?

[Heero Yuy]

I'm gonna start my reading and get into this

feel like im missing out

[Angelo]

Get involved with XEL.

[Colin Turnover]

DES will hit oil in this next round of drilling. Might not be at Rachel, but they will hit and when they do I think were looking at £4/5 a share (maybe £3 to be a bit conservative.) It's definitely worth a punt. The only thing is if they come up dry at Rachel and the share drops to below £1 you would get them for cheaper then.

The long term potential for all the falkland shares is mega.

[Colin Turnover]

XEL soaring! Missed the boat on that one but can't complain.

[Guest Triple XXX]

how do you man find you info?

FT?

or do u jus randomly research companies?

[Captain Planet]

I look @ the indepdendents share watch section

but also yeah just reasearch hot topic eg if I know the mobile phoe market is going to grow massively in the next few years (which it is) i would research all thing mobile phone, so not just bait companies like Apple but also firms that operate along the supply chain like part manufacrurers, advertising frims etc.

obv they have to be listed

Then I take a look at their accounts, and some of their ratios (especially gearing, which tells you how much of the compnay is funded by debt) etc, check broker recommendations and if I'm confident buy in

edit: technical analysis is also a big factor for more established firms or firms that have seasonal changes to their revenues, that chartschool website i linked u to a while back covers that in depth (support, resistence, dow theory)

Durrts beg u make me a FBO

[Guest Triple XXX]

how do you get started in all that though? like where would you research? just google the company?

[Captain Planet]

best thing is to use your brokers research facilities but there are specialist websites about for research and definitely check out the papers on their daily tips, but yh google works aswell, judt find the company and look at their annual reports or their investors section

see the edit above

[Guest Triple XXX]

safe for that

what brokers u man use? n what are the fees?

[Colin Turnover]

NPE going mental. Look where it was in May lol.

RKH through he £5 mark.

[Captain Planet]

safe for that

what brokers u man use? n what are the fees?

I'm using barclays stockbrokers fees are 12.95 per trade for my kind of account, marketmaster, which i think is pretty good

[revs]

Obviously it depends on the situation but on average how much are you guys spending when doing trades?

hundreds, thousands?

[Captain Planet]

Yeah the new rule is an £1000 min per trade, it's the most logical thing to do.

[Colin Turnover]

I trade with TD Waterhouse.

Strarted out not putting less than a bag in. Now working higher than that. Have in the past put a cheeky £500 for a punt though.

[Frank.]

The argies are gonna be pissed.

[Colin Turnover]

f*ck them lol

[Frank.]

co f*ck*ng sign.