Desire Petroleum plc (Desire) is a UK company listed on the Alternative Investment Market (AIM) dedicated to exploring for oil and gas in the North Falkland Basin.

Desire has recently completed a 6 well exploration programme. The 14/19-1 Liz well encountered dry gas and gas condensate at 2 separate levels while other wells recorded shows. The 14/15-4a farm-out well proved the southern extension of the Sea Lion and Casper discoveries and encountered hydrocarbons in the Beverley and Casper South (Shona) reservoirs. The resource potential of these discoveries is described in the April 2012 CPR Update.

The Sea Lion oil discovery and associated Casper/Casper South/Beverley reservoirs provide significant encouragement for the future potential of the North Falkland Basin. These successful play types are part of the east flank play which extends southwards in Desire operated acreage.

Desire has completed new 3D seismic acquisition over the east flank play and other key prospects (Ann, Pam and Helen). These data are currently being evaluated to provide a full update of the prospect inventory.

Announcements

• Economic Assessment of Contingent Resources (10th May 2012)
• Competent Person's Report Update (20th April 2012)
• Preliminary Results (2nd April 2012)
• Operations Update (21st February 2012)
• Grant of SARs (17th January 2012)
• 14/15-4z: Completion of Sidetrack (30th December 2011)