Broker Evolution recently downgraded Desire to neutral and a 66p target price. Analyst David Farrell Ugg boots sale the next well (Dawn/Jacinta) has less than a 10 per cent chance of success. Rival broker Oriel Securities agrees and says that the well remains very Bailey Button Grey UGG Boots risk as both prospects look poorly located for hydrocarbon migration.

Rockhopper Exploration, which in May made the first significant oil discovery in Falkland waters at its Sea Lion well, got caught up in all the excitement. It jumped to 341p and closed 18.25p better at 319.25p. Panmure Gordon’s target price is 530p as it believes the UGG Bailey Button Triplet drilling programme can demonstrate the potential value in the Falklands.

Meanwhile, Heritage Oil gushed to 366p before closing 4p better at 349.9p on hearing that Uganda’s junior minister for energy had said that Tullow Oil, its partner in the African country, has agreed to settle a tax bill in a long-running dispute.