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Gold/Mining/Energy : Desire Petroleum -- Ignore unavailable to you. Want to Upgrade?

To: Oily1 who wrote (78)	5/23/2000 8:31:00 AM
From: Tomas	Respond to of 417

Desire Petroleum Will Report on Portuguese Drilling Next Week By Dudley White Malvern, England, May 23 (Bloomberg) -- Desire Petroleum Plc, an unprofitable U.K. oil and gas company, will probably report next week on the size of a natural gas field it is exploring in central Portugal, a company official said. The company will detail to shareholders the progress it has made with the Aljubarrota 3 well at its annual general meeting to be held May 31, said David Quick, a director with Malvern, central England-based Desire. Shares in Desire jumped more than 40 percent in two days last month after a newspaper report said the Portuguese discovery could supply the country's natural gas needs for two decades. Still, the stock has lost more than one quarter of its value in the past week, falling to its lowest price in almost seven months, as shareholders wait for more details on the find. The Aljubarrota well has ``taken longer than expected,'' Quick said. ``The well will have made some more progress'' by the time of next week's shareholders' meeting, he said. The well is operated by Houston-based Mohave Oil & Gas Corp., Desire's partner. Galp-Petroleos e Gas de Portugal SGPS SA last month signed an accord with Mohave to gain a 10 percent stake in the concession and options to acquire shares in other fields around Aljubarrota 3, Desire said. Desire shares fell as much as 1.5 pence, or 6.4 percent, to 22p, valuing the company at 22.8 million pounds ($33.8 million). Last month the stock rose as high as 36.5p.

To: Oily1 who wrote (78)	5/30/2000 1:54:00 PM
From: Tomas	Read Replies (1) \| Respond to of 417

Desire Petroleum Soars on Hopes of Drilling Report Tomorrow By Elena Moya Malvern, England, May 30 (Bloomberg) -- Desire Petroleum Plc shares rose 42 percent on hopes the unprofitable U.K. oil and gas company will announce at its annual general meeting tomorrow the size of a natural gas field it's exploring in central Portugal. Investors posted messages about the meeting on Internet chatrooms such as Hemscott Information Exchange, fuelling the share price, said Frank Moxon, an analyst with the company's stockbroker, Societe Generale Securities in London. ``The movement is in anticipation of what the results might be,'' Moxon said. ``I'm not expecting any big announcement.'' The stock rose 9.5 pence to 32p, the highest percentage gain on the FT-SE Alternative Investment Market Index. The company will detail to shareholders the progress it has made with the Aljubarrota 3 well in central Portugal tomorrow, David Quick, a director with Malvern-based Desire, said last week. The well is operated by Houston-based Mohave Oil & Gas Corp., Desire's partner. Galp-Petroleos e Gas de Portugal SGPS SA last month signed an accord with Mohave to gain a 10 percent stake in the concession and options to acquire shares in other fields around Aljubarrota 3, Desire said. The meeting will start at 6 p.m. in London, Moxon said. Desire is worth 33 million pounds at the current price. Its shares have lost 22 percent so far this year.

To: Oily1 who wrote (78)	6/16/2000 10:39:00 PM
From: Tomas	Read Replies (1) \| Respond to 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