Is Desire Petroleum still trading?
Is Desire Petroleum still trading?
Desire Petroleum was acquired by Falkland Oil and Gas for £61million on 5 December 2013. Falkland Oil & Gas was itself acquired by Rockhopper Exploration plc in November 2015….Desire Petroleum.
| Type | Public limited company |
|---|---|
| Net income | -£1.47m (2008) |
What happened to Desire Petroleum shares?
Shares in Desire Petroleum have slumped almost 50% after the explorer said a key drilling prospect off the Falkland Islands contained mostly water, not oil. Last Thursday Desire said it believed it had made only the second ever oil discovery off the North Falkland basin.
What happened to Falkland Oil and Gas?
Its business was based on exploring for offshore oil reserves off the coast of the Falklands. It owned the right to extract oil from a number of blocks to the east and the south of the islands….Falkland Oil and Gas.
| Type | Public |
|---|---|
| Founded | 27 May 2004 |
| Defunct | January 2016 |
| Successor | Rockhopper Exploration |
| Headquarters | London , United Kingdom |
Will Rockhopper shares go up?
Share price forecast The 4 analysts offering 12 month price targets for Rockhopper Exploration Plc have a median target of 15.25, with a high estimate of 29.05 and a low estimate of 9.44. The median estimate represents a 71.16% increase from the last price of 8.91.
How much is the share price of Desire Petroleum?
Both the licences are in the North Falkland Basin and beside the successful Sea Lion development. The deal would give Desire shareholders nearly two thirds of a FOGL share for each share they currently hold in Desire and, based on Wednesday’s close, valued Desire at 17.6p per share – a 45% premium to its previous close.
Where are desire petroleum’s licences in the Falklands?
On the condition the Desire deal goes through, FOGL also has agreements in place to farm-out two licences Desire has until now had majority interests in to Rockhopper Exploration (RKH) and Premier Oil (PMO). Both the licences are in the North Falkland Basin and beside the successful Sea Lion development.
Where can I find Scheme document for Desire Petroleum?
Desire Shareholders will receive, amongst other documents, a scheme document in connection with the Combination, (the “Scheme Document”). FOGL understands that the Scheme Document will be made available on Desire’s website (www.desireplc.co.uk ).
Why did Fogl want to buy Desire Petroleum?
While the price FOGL is willing to pay for Desire has been under much scrutiny, most parties concerned believed the consolidation of efforts in the region was a positive step to finding reserves.