Desire=Billy Liar
Well you’re all aware that Desire are now citing mechanical failure of the well bore as the excuse for not having any data on the side-track
What a complete load of nonsense.
The fact is that they have failed on yet another drill and are trying to limit the damage.
This company are a shambles they have yet again proven that their share-price is completely retail punter driven. Do not invest in this company there are much better oil plays out there where companys actually have oil in place. Desire have absolutely NOTHING there’s more oil in my car than there is in Desire!
Stay well away from this shambolic company it’s not so long ago that one of their management team was involved in insider dealing!
How in the name of jumping Jehovah their sp is rising at the moment confounds all known laws of gravity.
If in profit get the hell out of here.
The Board are a complete bunch of brazen chancers.
There’s no Desire here to tell the truth with this lot of barber surgeons!
The Delusional posters on the boards are a plenty!
Hola!
Daniel.
OOF ! Thought you hd been a bit quiet lately. About time someone had the guts to say this.
How do you know it’s a fact that it wasn’t a mechanical failure of the well bore?
If you don’t know it’s a fact, it’s a pretty litagious statement to make on a public blog.
Shame really, you’ve let your emotion take over on a blog that was a pretty sober view on most things on the whole.
A mechanical failure does not happen one week after the drill is finished. It happens during the drill in an instant thereby allowing the company to facillitate a repair. Any mechanical failure is immediately flagged it doesn’t take over a week to discover it.
Unfortunately people are being lead by the nose here. There’s no emotion here just good old common sense. Desire prevaricated for over 10 days before coming up with this mechanical failure excuse. It doesn’t take 10 days to discover a mechanical failure. It is known instantly.
Danie
I don’t know Anti-Ramper, Dan get’s quite animated about all sorts of stuff! Makes things entertaining!
Dan, interested in your thoughts about Faroe (FPM). Invested in a small way a while back on the basis that they have an extended drilling campaign planned/funded.
Thanks as always,
Monkey
I’m sure Desires BOD will be happy to have a look at this for you.
Yes please do contact them and tell them they’re a bunch of cowboys from Dan.
What a idiot you are!
Daniel
Monkey,
I’ve had Faroe as a long term hold, I perceive them as a well run company trying to do the right thing. Yesterday they did not hit oil, but you can’t win em all. They have plenty of other propsects, I’d buy on current price weakness if I had more cash!
Thanks Pi, that was my impression as well, and likewise am on long term hold, currently about break even.
You feeling very bold today Dan. Perhaps you are fishing for Des punters to build your Encore empire. Not saying you are wrong but there are more polite ways of saying what you believe. If you do turn out to be wrong who will be the idiot? You really are chancing your neck on the block today in the respect field, especially when / if the Des R3 drill comes up trumps.
I suggest you read the post it is clearly stating that the company have been playing ducks and drakes.
They must of knew instantly when there was this so called mech’ failure a material fact that should of been reported immediately yet they choose to prevaricate for over 10 days.
If you think the post is in any way bold or uses bad language then you need to get onto some of the Internet finance chat sites more often!
The management are a shambles. JUST like Sterling who lead many down the garden path.
I can’t as you put it “turn out to be wrong” as Desire have just told the whole world that they’ve abandoned the side track! If they hit oil on another drill then that is entirely seperate from Rachel. Read the latest Oriel securities note for a diligent take on Desires chances.
Daniel the Bold!
So you have entirely misunderstood that they have not abandoned Rachel but drilled in the wrong place over Rachel, the sidetrack confirmed this so they will be accurate on their next drill of RACHEL [not somewhere else as you have misunderstood] The hole is not Rachel, the well is Rachel and though they abandoned two Rachel holes the third Rachel hole has a very high COS. Understand now?
No you’ve completely and utterly lost it. I’ll say it loud and clear “THEY HAVE ABANDONED THE RACHEL SIDE-TRACK”
You’re obviously invested here and feeling the heat as it slowly dawns on you that this is a company inflated by hot-air.
Read the RNS it states “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.” Desire have plugged and abandoned the well this is the second duster. Get with it. How many times do you think Desire will continue to drill a prospect that continues to produce nothing?And what does it say about them that they are now infering that they “drilled in the wrong place?”
I know it’s tough to accept but you really need to read all the latest broker notes starting with ORIEL.
Daniel
For goodness sake the sidetrack was at 40 degrees, it was very much an exploration drill. I am currently in profit with just a small investment which I can afford to lose, but expect to profit from it just like I did with RKH to a greater or lesser extent. GL, Al.
RKH RNS today:
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.
So they’re in on the lie too?
Sorry Dan, I just don’t believe your ‘fact’ at all.
Which is a shame.
The whole RKH RNS was phrased as a quote from DES. i.e. RKH are just saying what DES said, and they seemed quite careful not to add their own comment, from what I could see. Therefore, if DES are playing silly b****rs, then RKH seem to be being careful not to have much part in it, while still keeping their shareholders up to date.
The last para of the RNS from RKH is of interest :-
“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. ”
As Harry Hill would put it
” What are the chances of that happening ?”
Why did you paste half the paragraph you muppet, the second half of the paragraph makes it clear that the speed of the permissions simply determines the order of drilling:
‘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.’
Yes quite right. Lets hope Desire can find oil Dawn/Jacinta.
But I wouldn’t advise any of my subscribers to invest. It is a huge gamble.
Daniel
Mate, this post is not good. If your goal is to build up a repuation of credibility then this post is not doing anything to help that… in fact it is quite the opposite. You appear to have let emotion get the better of you. It would make interesting reading to see your recent holding history but I know that there is no obligation.
Each to their own and all that, but I aint budging with my DES holding yet. True, the house that was built on sand collapsed, but we must remember to ask ourselves in this case that why is it even sloshy in the first place?
I don’t invest in companies that drill in areas where there is NO infrastructure whatsoever.
The credibility of this Blog is above and beyond reproach as evidenced by SEY,NTOG etc ,similar deluded investors came up with emotional responses as yours. All lost small fortunes.
Good Luck with your Desire stock I hope they can find oil but as history teaches us look at a companies track record when deciding your investment.
Good Luck
Daniel
100% agree with Dan here from my own experiences with Desire.
I believe in the falklands regarding RKH and believe at one point Dan recommended rkh or mentioned the stock in a positive light on the blog.
The problem with desire is the management plus the acerage. From what i have heard from oil experts say the oil has migrated to RKH/ Argos and the area above NOT below in desires license.
But frankly whatever your view desire has part valued in a find, there is better value in xel or encore at present.
I would say though that RKH post dilution re 8th Nov, post rachel failures, post desire failures in the south N.F.B. could be a good entry point before the real fun starts.
I am not sure they ARE telling lies though.
Its a point of view, biggle i believe we have disussed falklands topics before and have agreed in the past with you . Emotions seem to run high with Desire. I lost a lot at one point due to my conections with old CP at Mathon Court near malvern. All come good with other stocks but wasted a year getting the money back.
I personally would say bad management but the basic facts Dan had put forward are correct.
As i mentioned i believe in the falklands and the tax issues not mentioned are a big plus against Iraq or the north sea to compensate for the lack of infrastructure, which maybe is a different view to Dan. But in time with proven commercial sea lion infrastructure will increase by that time RKH will have sold out .
HOWEVER regarding Desire Dan is 100% correct on the current management and the geology in that area.
compared to RKH in the north N.F.B or potential in the short term in the North sea re xel or encore.
I do believe there has been alot of loonies from chat room boards come on here today with overexposed positions hence the backlash to Dans point of view.
Just had a great run with lots of Danials tips and staying in on most as I dont think we have finished yet and here is one to look at on dry land http://www.valeofbelvoir.co.uk/page/oil-in-the-vale-of-belvoir-yes-no on Canadian NTN we all have to start somewhere and like all share DYOR good luck The world needs oil and every drop counts!!
Dan – I have been trawling through the DES discussion boards since the tricky situation arose last week – I was interested because NOTHING was making any sense – I would never invest in this company precisely because the management refused to come clean (even in the face of so much press speculation) – allowing small investors to be worried, clutching at straws and latching onto any odd rumour they could. It is a DESpicable way to treat shareholders.
Here Here Miopus! Even NTOG has more oil than Desire!
Dan
Dan, Any update re Matra yet?
Dan. What do you think propped up the SP today? “Retail Punters”? No, I’ll give you another guess. The institutions. 80m traded last week. Retail punters? No.
Re, Mechanical failure. Have you read the recent RNSs? Logging problems on deviated section of well had been known for 4-5 days. It was an ongoing issue.
Rachel wasn’t a “duster” either. 25m of oil shows and re-drilling on the same prospect very shortly.
Suppose we should know better than listening to you though. You also said EO would gain from 130p to 200p on news of a small Cladhan upgrade.
Your quite wrong there was NO 25m oil column there was 25m of oily sand. 70% of the investment in DESIRE is retail FACT!
It just goes to show how people like you get suckered into losing money. Your rewriting the rns!
What a burke! And if you read the posts correctly which you by your own admission have just proved you do not by wittering on about a non-existent 25m oil column. All sp targets quoted are just that market targets just like Arbuthnots on XCITE what a numptie you are! I do note however that Encore actually have oil while your investment has not. Now be off with you this Blog is for serious investors only that means ones that can actually read an RNS with-out adding bits to it!
Daniel
i said “25m of oil shows”. RNS reads “around 25 metres of sand with oil shows was encountered”.
For a start it was measured in metres not feet.
You stated that Encore would be 200p within a week. I never mentioned broker targets.
Listen your in a hole now stop digging you’ve just admitted that you stated 25m of oil shows when in fact it’s 25m of SAND with oil shows now off you pop. Where on this blog does it say that Encore will be 200p in a week? Another one of your LSD driven delusions! Is it any wonder why you’re stuck in desire there is no hope for you. Pack in investing and stick your money under the bed with the piss-pot!
Daniel
I Agree with Dan on this, a mechanical failure surely is instant and repairable, I assume RKH and ARG couldn’t lend them a spare screwdriver to tighten the bolts on XYZ ???
either way i think given the recent activity its too unreliable to invest in falklands oil,
it seems more like gambling than an educated guess
good luck all
infact maybe this might be of interest
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8094462/Revealed-how-Desires-advisers-have-cashed-in.html
Dan, well done for showing that you really don’t know anything about the mechanics of drilling for oil. A shining example of why you should be ignored as the charlatan you are.
The “mechanical failure” you are banging on about is a deterioration of the wellbore after the drill had finished. On a 40 deg wellbore, this happens, especially in virgin territory. It did not happen during drilling otherwise Desire would have had to announce that via RNS as a failed drill. To say it was a duster indicates that you think they are misleading investors. What you are saying is potentially libellous. I sincerely hope they sue you.
You are guessing, as usual.
Unlucky on your deramping attempt…
Here we have another self deluded complete idiot! You thick stupid self-deluded fool. It is DESIRE who are telling the market that the side-track had a “mechanical failure” Not this blog Read the RNS!. They have found nothing at the Rachel drill I repeat NOTHING! Of course it is a DUSTER! There is no oil at that site THAT IS WHY THEY HAVE ABANDONED AND PLUGGED THE DRILL. SAVVY? You are a complete and utter numptie I’ll spell it out for you once again THERE IS NO OIL AT THE LATEST RACHEL SITE IT HAS BEEN PLUGGED AND ABANDONED! It is not a guess it is a FACT! Read the latest broker notes on the RACHEL DRILL that’s if you can read!
Now run along and carry on taking the LSD!
Daniel
Dan please no more i’m in fits of laughter here while your ripping the pish out of these sad Desire investors the penny will never drop with them. Lemmings mate all jumping off the cliffs. Come leave them to fiddle while Rome burns “Stick your money under the bed with the piss pot?” Classic one i’ll be using that myself. Love it!