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Gold/Mining/Energy : Desire Petroleum

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To: Oily1 who wrote (78)	6/16/2000 10:39:00 PM
From: Tomas	Read Replies (1) of 417

Investors Chronicle: Smaller Company Annual Reports: Desire Petroleum - Oil And Gas Explorer Investors Chronicle, June 16 On the penultimate day of May, Desire's share price jumped 42 per cent to 32p and the Stock Exchange demanded answers. An internal e-mail between two executives at Doreal Energy (a partner in its Portuguese gas acreage) had leaked onto a bulletin board. In fact, the e-mail said little other than drilling at Aljubarrota-3, north of Lisbon, had reached 2,300m. That well will test the commercial significance of the previous well 3km away. Desire has a quarter interest in the consortium. Desire's other main interest is 100 per cent control of four licences north of the Falklands. No oil was found in blocks there in 1998 but, if oil prices stay high, Desire hopes to post farm out brochures later this year. DESIRE PETROLEUM - Oil and gas explorer Ord price: 27p Market value: GBP25.56m Touch: 25-29p 12 month High: 64.5p Low: 18p Dividend yield: nil PE ratio: na Net asset value: 10p Net cash: GBP3.63m Year to Pre-tax Stated earnings Net dividend 31 Dec profit (GBPm) per share (p) per share (p) 1998 -8.39 -8.90 nil 1999 -2.13 -2.16 nil Market makers: 5 Traded on Aim

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