Falklands’ Desire Petroleum announces drilling of sixth well has begun

Wednesday, March 30th 2011 - 05:21 UTC

Full article 21 comments

The Falkland Islands hydrocarbons exploratory round begun over a year ago is steaming ahead. Desire Petroleum announced Tuesday it had begun exploratory drilling on the Ninky prospect with a total planned depth of 2.620 metres. Read full article

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Think
Woooooooow

Share prices soared a whole 6,80% up to 39,25p yesterday on the incredible good news about the ”combined structural dip and stratigraphic pinch-out trap with multiple reservoir targets within the Barremian source rock interval” thingy....

In about 20~30 days we all will know……
Last chance to buy these shares dirt-cheap and get stinky-rich……
Or to get rid of them and rescue some of your hard-earned money….

GO GO NINKY
Regards
El Twinky
Mar 30th, 2011 - 06:15 am - Link - Report abuse 0
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Wireless
I reckon Think has a secret portfolio of shares in these exploration companies, although he thinks with his heart on here, he'll think with his head when it comes to money.

His attention to the changing price of shares seems too much of a coincidence, but I won't hold my breath that he would admit to such holdings, the sly devil.
Mar 30th, 2011 - 10:18 am - Link - Report abuse 0
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Think
TWIMC (and Mr.Beef; the Man that teached me all I know about Oil Investment)

Any comments on the City’s rumours about Rockflopper Sea Kitten’s P10 being downgraded to ~100 million barrels ?
Mar 30th, 2011 - 10:33 am - Link - Report abuse 0
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Britishbulldog
Can you smell that fine smell of oil Argentina? Pity for you it belongs to the Falklands, never mind
Mar 30th, 2011 - 02:54 pm - Link - Report abuse 0
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Marcos Alejandro
Good news!
Urinehopper is only 3% down today instead of the regular 5%.
Mar 30th, 2011 - 03:28 pm - Link - Report abuse 0
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Think
Uuuuuuppppsssss……

Despair Petroleum shares down 5,10% today….

Seems to be that the ”Market” does not understand the importance of the Barremian source rock…..

The ”Market” must be blind and dumb……………
Mar 30th, 2011 - 04:15 pm - Link - Report abuse 0
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Teaboy2
@ #2 Wireless - Lol yeah assuming think is argentine and living in argentina. Then i can just see it now, where one morning i wake up and visit mercopress to find an article titled “Think Fined and Banned from oil industry by argentina for being involved with a company operating in the Falklands”. Now that would be funny lol.

No offense intended Think :)
Mar 30th, 2011 - 05:18 pm - Link - Report abuse 0
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Beef
Hi Think, sorry, my boy has had Chicken Pox (fairly bad dose) so have been away from here for a few days!

Regarding P10 etc. There is not yet any updated volumetrics and P is simply a probability factor on available data. The last apprisal was in the p90 area so any accurate news on P10 is not yet possible. The range is still fairly wide at such an early stage and the mean could move left or right but at some point the mean will be more stable and the range between P10 and P90 will narrow. This will be finalized with a “booking” of the reserves. Then we will see what the plan re production via FPSO is.

Until updated P90 volumetrics are available the SP will drift up, down and down. This is why I am more interested on the SP for 1st Jan 2012 and then what the SP will be in 2015 (if RKH hasn't been bought out by then of course).

Be my guest and comment and gloat on daily fluctuations. You are clever enough to know that such an approach usually leads nowhere.

Think long term. I am and very comfortable with my share certificates in the bottom draw.
Mar 30th, 2011 - 06:44 pm - Link - Report abuse 0
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Think
No need to excuse :-)
Hopefully no sequels for the boy....I assume he wasn’t inoculated.
Life is odd……
Sometimes, the right decision can turn to be quite erroneous….

Anyhow….. Back to oil…………….
I am precisely NOT thinking long term.
I believe Despair Petroleum will be defunct by the end of this year….. (Inshallah)
I believe the other 4 minnows will be over and done with before the end of 2013… (Inshallah)
Mar 30th, 2011 - 07:24 pm - Link - Report abuse 0
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Beef
We don't immunize against Chicken Pox in the UK. The clinical effectivness of the vaccine has been questioned and it is a fairly mild condition in a three year old anyway. Much rather the NHS make sure that every parent gets their child immunized with the MMR but the Autism scare put a lot of people off despite there being no evidence of a link. Some people are odd, not just life.......

Desire may go the wall. Not unheard off in small cap oil exploration. More likely they will just get a farm in (on less favourable terms), get bought out or issue shares at a knock down price. Lesson is de-risk....

Unfortunatly I think you will find that RKH is more than likley to have a bookable asset and get bought out than collapse. I also think that God has more important things to worry about than a bit of drilling in the South Atlantic or the fate of some capitalist small caps.

بسم الله الرحمن الرحيم

and may you and Sam Moody receive many blessing from Allah. Unforutantly my trip to Bahrain has been cancelled due to the political unrest but I may get the chacne to go to the new Baaaaahhhrain in the next few years.
Mar 30th, 2011 - 07:56 pm - Link - Report abuse 0
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Think
(10)

You know perfectly that the economic analyses made by the companies involved in the North Falkland Basin show that a discovery with 400 million barrels recoverable reserves ”could be commercial”, using an FPSO and regular offloading to a tanker, with an acceptable number of wells and a per well flow rates in the range 7.000 -10.000 barrels of oil per day.

Sea Lion’s most optimistic information, provided solely by Sea lion’s owners do not even cover 1/5 of the necessary oil production for the commercialization of South Atlantic oil.
Mar 30th, 2011 - 08:15 pm - Link - Report abuse 0
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mastershakejb
*Kicks up his feet and watches yet another UK failure with a smirk on his face.
Mar 30th, 2011 - 08:37 pm - Link - Report abuse 0
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Beef
Think - copy and paste from iii does nothing for your image. I read that earlier but in reality commercialization will be achieved with much lower than the total booked reserves you suggest. With a very favorable tax and royalty agreement and oil prices destined to remain high then I am afraid to tell you the odds of commerciality in the FI are shortening.

The NFB is also just the start, later this year we will see the SFB and East basin get some attention. This is when things get very interesting.

Think, you can wish for all you want but don't be blinded by ideology. Facts are facts and data is data. In the end it is the data that will determine who is on the right side of the fence.

Master - care to list all the Argentine successes in the Islands?
Mar 30th, 2011 - 08:57 pm - Link - Report abuse 0
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Think
(13) Beef

You can stop your twaddle about copying and pasting….
This I not a thesis presentation and you are not an external censor…..
The facts and data I use at Post No. 11 are current, correct and relevant…..
And, as you well know, they include the favorable tax and royalty agreement plus high oil prices.

Of course, I wish for your English not to find oil……But “blinded” by ideology I’m not.
However…….. You seem very much driven by sentiment about these South Atlantic oil shares, thereby breeching the first golden rule of investment.

Facts are facts and data is data.......I can’t change that,
Neither can you………………….
Mar 31st, 2011 - 02:27 am - Link - Report abuse 0
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Martin_Fierro
4 Britishbulldog,

“Can you smell that fine smell of oil Argentina?”

Uh, no...?

lol
Mar 31st, 2011 - 03:49 am - Link - Report abuse 0
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Beef
Think, as a long term holder of de-risked share certificates how can I be driven by sentiment? Can you work that one out for me?

You are the one commenting on daily SP fluctuations so I would suggest you are the one interested in short term sentiment.
Mar 31st, 2011 - 09:52 am - Link - Report abuse 0
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Think
(16) Beef
In the old days, when things went good for the British South-Atlantic Oil Adventure; it was you commenting all over the place about “endless riches for Malvinas” and a new “Bahhhhrain” among other things.
Paid mortgages, flashy Jaguars and fine college education for the kids were mentioned by you more than once……… I call that “Sentiment”.

That’s why I noticed you.
That’s how we met :-)

And yes …………………..I am very much interested in OTHER PEOPLES short and long term sentiment about this shares.
The more insecurity, losses, angst and panic these “Malvinas” shares provoke among investors, the better.
Mar 31st, 2011 - 03:30 pm - Link - Report abuse 0
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Beef
Actually think, I am in the process of moving house but mortgage, Jag, Education etc. will be achieved but the FI oil shares are just once piece of the puzzle.

I have fingers in lots of holes as is prudent.
Mar 31st, 2011 - 05:37 pm - Link - Report abuse 0
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Think
Good for you, young one......

But not everybody has been so prudent....

Many fingers are going to get badly burned out there in little Britain and Malvinas if dear Sam Moody is not telling the truth, only the truth and nothing but the truth.
Mar 31st, 2011 - 07:05 pm - Link - Report abuse 0
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Martin_Fierro
Lots of drill holes, shares, blah blah blah...

Where is the oil? Show me the oil.

: P
Apr 01st, 2011 - 12:05 pm - Link - Report abuse 0
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Zethee
They've already found oil Martin. The debate currently going is if it'll be commercially viable.

Is the reason Think has stopped his ever so funny “NO OIL NO OIL NO OIL NO OIL NO OIL NO OIL” posts and is now focusing on share prices and straw clutching.
Apr 02nd, 2011 - 01:10 pm - Link - Report abuse 0
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