I have no opinion on Desire as an investment as I have done no research - it has been on my 'to do' list for ages, but I'm lazy. However:
1. DES is bigger than CNE? Really??? I thought it was the other way round, to the tune of £4 billion plus. In oil company terms DES is a pimple on a gnat's backside, with all the potential upside and downside that goes with that.
2. Anyone who looks to iii or (God help us all) advfn for anything resembling a sensible or knowledgeable discussion is going to be sadly disappointed. ADVFN is full of 12 year old rampers/derampers with IQ's less than their age. The interesting discussions on oil E&P companies used to be on The Motley Fool, but the main protagonists have now moved to stockopedia.
How deep is the water where Desire intend to drill their 14 (14!! ) wells? How much will that cost? How are they going to finance it? What seismic info are they working from? What happens if the first two wells that they have farmed out fail? I accept that there are probably large reserves in the area, but what if it will not flow in economic quantities? Do they have any other prospects or is this a one shot deal? Etc, etc, etc. The case for investment is, being as charitable and as polite as I can be, not yet made in this thread.
Do your own research, folks, as otherwise this is a punt not an investment.
Would anyone like to buy shares in this high horse of mine? As always, my advice is worth exactly what you have paid for it.