Share Name Share Symbol Market Type Share ISIN Share Description
Desire Petroleum LSE:DES London Ordinary Share GB0002689494 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 16.375p 0.00p 0.00p - - - 0 06:37:39
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -2.1 -0.7 - 56.03

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Date Time Title Posts
30/10/201501:45DESIRE petroleum gets going at long last !47,013
13/5/201510:57DES has got going at long last46,195
28/8/201308:07Desire Petroleum - The Positive Thread5
22/8/201306:55DES Charts124

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agnabeya: shanieboy - if your shares are nominee account (not paper certificates) - I believe they will be merged for you. DES will cease to exist after the combination takes place - and for every DES share you hold - you will get (very roughly) 0.62 FOGL shares. So you'll have fewer shares but at the going FOGL share price I think that's how it will work - I've asked around and this has been the general gist of what answers I've had.
agnabeya: What does the Falklands rejig mean for your holdings? By Esther Armstrong | Thu, 3rd October 2013 - 16:59 What does the Falklands re-jig mean for your holdings? After what one analyst described as "a long time out of the limelight", gas and oil prospects off the Falkland Islands have been thrust centre stage, with four of the region's main players presenting investors with plans to progress an enhanced drilling campaign in 2014/15. The leader of the pack is Falkland Oil & Gas (FOGL), which has recommended shareholders approve what is essentially a takeover of Desire Petroleum (DES). On the condition the Desire deal goes through, FOGL also has agreements in place to farm-out two licences Desire has until now had majority interests in to Rockhopper Exploration (RKH) and Premier Oil (PMO). Both the licences are in the North Falkland Basin and beside the successful Sea Lion development. The deal would give Desire shareholders nearly two thirds of a FOGL share for each share they currently hold in Desire and, based on Wednesday's close, valued Desire at 17.6p per share - a 45% premium to its previous close. Unsurprisingly, Desire investors were largely on board with the idea, particularly after the share price shot up 30% in response. Over on the Interactive Investor discussion boards, 'marlonmonkey' says: "On the face of it this is a good deal for DES, FOGL and RKH. They all get the thing they didn't have without giving too much away. DES had no cash, lots of exploration upside and poor management. FOGL had lots of cash, significant exploration upside but no safety net. Rockhopper had limited exploration upside and now they have a share." 'Shiftynifty', adds: "I was hoping for a complete buyout, but this is the next best thing. Combining resources to carry on exploring, it could have been worse. I'm not heartbroken the DES board of directors won't have any effective input now [either]." Analysts at Mirabaud were in agreement: "In our view, DES shareholders should be particularly pleased with the terms of the merger which leaves them owning a chunky 40% of the combined entity and, together with the farm-in, represents a neat solution to their lack of drilling funds." For FOGL investors, there was much less immediate excitement and many were questioning the value of Desire's shares. 'Oliwealth' sums up what many FOGL shareholders felt: "DES is much better off on this deal. This deal has saved DES and we should have got it for half the price because DES was desperate. 'Sheffieldsteeler' was in agreement: "On the surface, at least, this is a bad deal for FOGL as DES needs FOGL more than FOGL needs DES. The market is tending to agree, but up until now the FOGL management have performed far better than the management of Rockhopper and DES combined so I am hoping that once the full details come out, it will begin to look a better deal for FOGL than on first perusal." While the price FOGL is willing to pay for Desire has been under much scrutiny, most parties concerned believed the consolidation of efforts in the region was a positive step to finding reserves. Once the merger and farm-out transactions are completed there will be a five-well drilling campaign with two wells in the South Falkland Basin and three in the North Falkland Basin. Analysts at VSA Capital Research said the transactions would remove a huge amount of uncertainty in terms of future drilling. "Instead of having a group of companies seeking their own funding the new combined entity is a much stronger platform to drive exploration in the region going forward," VSA Capital adds. Looking outside the four parties immediately involved, fellow Falklands-focused firm Borders & Southern Petroleum (BOR) was benefiting from the activity in the sector, and was up 4.5% for the day. Malcolm Graham-Wood, oil and gas analyst, says: "People think Border will be next, so it has reignited interest in the area." This is certainly what was on Border shareholder 'Constable B's' mind: "My money is on a Premier Oil farm-in just to add to the Falkland Islands in-breeding programme." Following these most recent developments, the news flow from the Falklands will likely be under far greater scrutiny over the coming weeks and months. If the consolidation is successfully passed, investors will expect a concerted exploration effort next year with a view to seeing some production in the region by 2015. FOGL said the next drilling campaign is expected to be fully funded from existing cash and various farm outs. Interactive Investor user 'Grewber' on the FOGL discussion board praised the firm's savvy: "Again FOGL demonstrate they are the shrewdest deal makers in the Falklands exploration game. One way or another FOGL will now have oil." The truth of this remains to be seen, but by taking action FOGL will hope the odds are stacked in its favour.
efagie: from kisuli on iii... As per last year, my notes of the meeting and discussions with Board: ID: Prem/ RKH deal was a good one. This is not the North Sea. However, still expects a premium to RKH barrel price, intimating $6 per barrel? (my take). Would not be drawn on farm-in discussions. Share price is cyclical and likely to rebound upon rig return. FDP can only be delivered with all three parties' agreement. FIG would be reluctant to intervene. They could adjudicate, but this is very unlikely, and almost certainly will not be necessary. KB: RKH appraisal of Sealion satelites will satisfy DES licence extension requirements. Isobel stack is best prospect within NFB. RL: Farm-in - most companies require circa 3/4 months to assess information. Late 2014 is a reasonable timeframe to get a rig down to Falklands. Next six months will see a number of announcements, with Des farm-in, next step of Sealion development approval (I took this to mean FEED options?), and rig announcement. This time next year, any rig for late 2014 would require setting up. Therefore, expect announcement of contract within next six months. Des cannot take a rig alone - requires circa $100m mobilisation, even before drilling. Leasing Co would want at least a year's contract. Ocean Guardian left as Diamond wanted 2 yr contract extension. Des could take slots in southern rigs if absolutely necessary, at higher day rates, as this may offset high mobilisation costs of going alone. relationship with RKH is excellent. Also with Prem. Had a good relationship with Prem even before RKH farm-out. Fully expect RKH to send a rig down for appraisal/ exploration before production drilling, and this would need down time between drills - therefore an opportunity for Des/ ARG. SP: Not giving anything away as to farm-in, although probably be complete in July/ August. Outside of farm-in, market has obvious very little interest in small oil i.e. as to why share price is so depressed, but this wasn't said in relation to farm-in. RKH is very good value at present given reserves. RKH are literally snowed under with work, therefore not surprised no unitisation discussion as taken place to date. This ought to be commenced in July/ August. This is good timing for Des, co-inciding with farm-in. Overall: I get the impression all directors are very excited about the prospects. Presentation was corporate, but in private much more up-beat. They want a crack at Isobel. K
dudishes: WRT the Falklands, we do not give a damn about the US or any other nation. We defended it once, no need for a second time. Since the 14th Century, the Brits tried to kick my family out of Eire, they failed. On a similar note, the Argies will fail to. None of this will aid a failing DES share price, will it? Get real
highlander7: So Cairn looking at Rocky with intent to buy ? This will improve sentiment in the Falklands in general and hopefully add some momentum to the DES share price.
highlander7: So Cairn looking at Rocky with intent to buy ? This will improve sentiment in the falklands in general and hopefully ad some momentum to the DES share price.
desfoundoil: granny perhaps you should be sucking something out of my side instead... so dream on especially when your mouths full of sea-men. in no way shape or form will rockhopper get any of desires oil "whatsoever"... desire has money for one more drill "near enough"...and that well sits right on the mouth of sea lion and in my estimate is ABOUT 25% of the sealion find "owned by desire and is completly on desire achreage". [and funding will come from shareholders for this well...simply because desire already has nearly enough money for the amount needed. CONCLUSION....DESIRE OWNS 25% OF THE SEA LION WELL REGARDING ITS CAPACITY. THATS ABOUT 150-200 MILLION BARRELS.....THE 90 KILLOMETRE IS WELL IN DESIRES ACHREAGE. THERE WILL BE NO FARM IN OR CALLING UPON MARKETS FOR FUNDING.... look at the maps... so basically when the data all comes in in september....i think youl find that the next well will be drilled in the "shona well". which is in fact " SEALION ON DESIRES ACHREAGE " [FACT] eat you words keith morris you zionist...i wonder whos paying you to mouth off? now go put your tail between your legs you greedy little boy... see all below Falklands : Desire Speculation Note Sheer Nonsense Submitted by Falkland Islands News Network (Juanita Brock) 17.08.2011 (Current Article) Often during the day companies post news on the London Stock Exchange RNS service. Desire's press release has been posted not only on its section but also by Rockhopper Exploration's RNS news. DESIRE SPECULATION NOTE SHEER NONSENSE An Editorial by J. Brock (FINN) Often during the day companies post news on the London Stock Exchange RNS service. Desire's press release has been posted not only on its section but also by Rockhopper Exploration's RNS news. Keith Morris' speculation that Desire Petroleum doesn't have access to Rockhopper Exploration's data in this case is sheer nonsense; and I think a little premature. The two entities are in business together and unlike what happens between the Falklands and Argentina the companies talk with each other. "Since Desire does not have access to all the data upon which Rockhopper's evaluation is based, in particular the 14/10-6 well data, Desire is unable to confirm Rockhopper's interpretation at this stage," said the press release. However, it may have been but an early moan. By the way, how is it that Mr Morris knows Desire really doesn't have access to Rockhopper's data in this case? Wouldn't Rockhopper put out a press release refuting what Desire's said if they intended to cause a problem? Wouldn't Desire's share price decline on the news instead of increasing? "Yesterday's rebound in DES's share price is not justified by any significant change in the technical case for DES's acreage valuation," Morris said in a note to clients. Whether or not the price increase is justified remains to be seen. FINN will allow Mr Morris to eat his hat when this gem pans out. "We see no rationale for a change in valuation on the back of the possibility (no stronger than that) that Sea Lion extends into DES's acreage. There is no prospect of drilling until 2012 at the earliest and there remains questions as to Desire's ability to fund further exploration," Mr Morris continues. The rationale is that Rockhopper has not denied or refuted the Desire press release and in areas where there is a joint concern it is best practice to share data. By now I would imagine Desire has the data. Desire Petroleum Intraday Price at 0100hrs London Time on Wednesday, 17 August 2011
itsnobigdeal: Help I have lost DESIRE I cannot find DES share price movement on TV since it is not in the top 350 shares listed now on new digital televisions. I kept an old TV for this purpose and now its broken down. DESIRE Share price movement on Ceefax Teletext used to be found on page 224 (BOR - Borders and Southern was on page 222 )from BBC2.
crystball: Linslader, everyone is entitled to their opinion, that's why I said 'In my opinion'. Remember, as a DES shareholder if in the unlikely event that the Ninky drill is a commercial success, then I will be a winner. I am surprised the share price rose on Friday. Yes, I got it wrong, maybe I will be wrong again and Ninky will set the DES share price on fire. I am not holding my breath however, I expect it to be a failure and the consequent end of DES as a company.
plast: well pro, first how can anyone say the price was affected by this, I base the gas theory on the fact the share price suddenly rose but the momentum stopped, indicative of initial gas signs while drilling, if the share price rise kept going then it might has suggest oil, so your saying, des has gas because of the rises on the market on thursday friday, thats nuts, i think it was due to investers speculating, nothing more, i might be wrong, but to say des share price was affected by gas, is mad, no one knows what they have yet,so it has got to be because of investers punting on the hope, nothing more. still if it is then well done you, happy new year to you though.
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