DESIRE petroleum gets going at long last !

Hi Bomb, Nah took my profit on VOG a while back, nice 95% return over a three day period, nice when it goes in yr favour. Now horrifically long on the Falkland players.

Hi Jaceorge, understand your point and frustrations and share much of it. All I can say is that I've been in DES since 98 and seen the highs n lows, won and lost but thats the nature of a beast that could end up at 5 quid plus a share or zero pence. I would say that there are 5 key players now looking to drill whereas just over a year ago it was really just Desire Petroleum. There does seem to be quite a bit of expected News flow in early 2006 and fingers crossed better times are ahead.

Good luck and apologies as I'm aware that I can be annoyingly optimistic sometimes.

Kind regards and heres a copy of my Px targets I posted on iii few days back (19th December)
JPDM


Good Evening Ladies n Gents

I firmly believe that the EIA marks the start of progresive growth in the Desire SP. What we can say is that we are getting to the point where the only hold up is the rig. Desire have faith and are proceeding with all the additional necessary work and parts ordering in advance meaning that we will be less subject to future drilling delays. I take this as a strong vote of confidence and am glad of my recent top ups sub 25p and my little spread bet too!

IMHO it does draw a line above the recent sub 25p lows and sets a platform for the SP to move north. I still feel that the SP is way below its fair level which I would calculate as 34p - 37p. I would expect the SP to start to climb albeit tentitively towards this level during the remainder of this year and into Jan 2006.

There really is a lack of large easily obtainable fields on the globe and the search for oil and gas is going to have to start to focus on the Falklands as a potential source of this valuable energy. Lets not forget that in Desires acreage alone there is the potential of several Billion barrels of oil and that excludes what may also be present within the Argos and Rockhopper acreage. Along with this we have FOGL to the south backed by serious mid cap players and an active fund (RAB). All these entities will be looking to keep their investors happy and I would expect news flow and potential for farmins in early 2006. Just over two years ago no one had plans to drill anywhere in the Falklands, just over a year ago it was just Desire, six months ago it was just FOGL and Desire and now we have Borders and southern, rockhopper and Argos all pledging to seek data and consider drilling.

Folks, its gonna happen but may take time, Desire has been hit and oversold as a result of a shortage in rigs, this wont last for ever and when a rig is booked and drilling begins the SP is gonna translate into a mouth watering SP.

I'm happily topping at these levels but I dont see them lasting much longer. Its not a share for the faint hearted but it does have the potential to be seriously live changing and in a new frontier oil provence that could keep the UK in 'Lavender' for many decades. lets not forget that it took a multitude of wells to be drilled in the North Sea before oil was found and look at how it has sustained the UK since those pioneering shareholders stood their ground as we do with the Falklands!

I'm bullish on this stock and my Px targets for the next 3 Months are as follows:-

Up to Xmas - Trading range of 26p - 28p
Xmas to 1/1/2006 - 27p -30p
Jan 2006 - correction of price towards its true value IMHO of lets say 32p - 35p trading range
Feb/Mar - during this period news of farmin or rig could come at any time but excluding such news I'm actually getting 34p - 38p

In the event of a rig then hold on tight because the Px tareget IMHO is around the 80p mark.

due to the delay in a rig its possible that Argos, Rockhopper and Desire could team up in some sort of multi-joint venture, IMHO this would be welcomed by the markets but could also be a platform for Desire to approach the market for further funds to extend a drilling programme. I believe if they have a rig booked at such stage that such a rights issue would be very favourably met by the markets.

I'm looking to increase my holding via a further spread bet at an oppotune moment possibly tomorrow.

I'll leave it there for the time being but hope above Ramble of interest and though provoking.

Very kindest of regards and Happy hunting
JPDM Fortunemaker