HI/ All
Iam a newby to this bb, i wen't back about 4 pages looking to see if there was a Dragon Oil thread, didn't see it perhaps i didn't go back far eneough.Any one any views on how far the sp might go with this one, with the talk about China and Lukeoil looking to buy up all the oil shares they can, imho i think this one could do very well, have held 4 years now so i would get a good return , but i think if i hang on i will get an even better one, any views anyone?
cheers

hi automatic,
Luckly you got into this for 4 years, I am not sure if it is now too high to buy, may you also suggest some other oil? coz oil is for sure good to invest in a long term. many thanks

HI/Swseun
sorry I can't recomend any other oil shares ,although the way things are any must be a fairly good bet IMHO, i know dgo is starting to get on the expensive side but i still think this has some way to go,you must DYOR
good luck auto

Have a look atGED

Naked Trader has a target for DGO of 210p.He is a very successful trader and does'nt get much wrong!
Ethel

HI / ethel
Naked Trader target of 210p is still on the low side IMO should get to that in next couple of weeks if not sooner, all imho of course
cheers, AUTO

the figures have been worked over by a few knowledgeable investors on other threads in light of the takeover of PetroKazakstan and the like for like figures for a takeover of Dragon come out in the region of 3.80.

this is severely undervalued, hang on for the big spike...

HI/ andyeds
They will have to put me through the ringer to get me to part with my shares, well i do have a price just a little higher than the 3-80 posted above
cheers AUTO

Why so much buying today on a regular basis,and same with nop any one thinks this is just the beginning or is it to do with the oil prices.

HI /ateeq
I think some of it might have to do with the oil prices, but imho and others DGO has been undervalued for a long time, and of course there is the rumour that LukOIL is sniffing round, , all helps
cheers AUTO

back on dgo on t20 think something is about to come out with the rist in the last week up every day this week

rephrase please gordon

I bought DGO at 27 and sold when they hit a 100. Been following the share ever since cringing month after month. 3.80, can anyone elaborate further on this target price? May well dump ROC and re-join the action!!

In at 33p.,moving real fast the last two weeks,right on ,dgo knows how to move.

looking at the chart we should have had a big correction already because this is technically overbought. BUT...

there are big buyers with AT trades coming in even now at these prices, probably institutional trades..

this leads me to believe that we will get a MAJOR re-rating when the results come out late Sept and the very real possiblility that we have a bidding war between the Chinese, Indians and Lukoil on our hands...

i'm going to hang on with these despite the TA because i reckon there's a bid imminent. we've already had a re-buff to Lukoil a few months ago and the CEO of Lukoil said only 3weeks ago that they were still in talks with the Turkmenistan Government with regards to a major stake in DGO..

as long as the BIG BOYS keep piling in at these prices i'm comfortable in believing that a bid of at LEAST 2.60 is imminent...

;-)

i use advfn.com and moneyam and the advfn lot reckon 3.50p or at least 2.60p during this bidding war

Dragon ticked up a little today on the ISE, good sign for tomorrow when LSE opens IMHO of course
cheers AUTO

oil over $70 and Davy Stockbrokers added DGO to their weekly note this weekend (more coverage)...

This hurricane Katrina will proberly push oil prices higher, with the shutting down of rigs and evacuation of rigs, reading in paper how hurrican could put some of the older rigs out of action for some time if not altogether,good thing they are getting all personel off them
cheers AUTO

cannot see them coming up against any resistance this side of 200p and after the results its anyones guess....

Do you mean this will go higher or will fall back,at the moment momentum seems to be up.

Does anyone know when the results r due ?

kicking myself for not getting in @ 115p just a few weeks ago - "Frequent Trader" mentions it regularly on his great website (www.frequenttrader.info - check it out, it's really informative and entertaining too!).
I keep thinking share price cannot get any higher...but it does!

Freq. Trad had original target at 140p but has recently move it up to 210p+ which seems more reasonable than 360p i've been reading! But who knows, the way things are going.. !! Even now at 179p, it has great potential upside.
Thought i'd wait for some profit taking to take place....but it seems that everyone is hanging on to their shares!!!

oddie, I totally agree and have posted the same commend, obviouly I was wrong.

are there any of you out there who bought dgo WAY BACK - im talking between 5 - 10 years ago when the roumour mill was turning ?.There was a price split (i believe a third) and the penny shares then didnt look so rosy !!!! If so can anyone remember the date when the split took place (roughly)...If only the old certificate was still valid prior to the price change - there would be a few of us sitting on MILLIONS.

out today at 184.5 think the rally over might get back in when results date know
can see falling tommorrow imho could go back to 150p

out today at 184.5 think the raly over might get back in when results date know
can see falling tommorrow imho could go back to 150p

been in since 113p but must admit i pulled out as well at 177.25p on Wednesday, looked at the chart and it's seriously overbought, may need a rest/consolidation around this level before moving ahead again. i do believe this will be 250p+ by end October and i know i've taken a risk being out while Lukoil are circling.

if it drops anywhere near 160p i'll have another pop...

meanwhile i've piled into COP...

Buys just ahead of sells today, no reason for a 7+p drop , should be blue again tomorrow

just bought 13728 @ 1.5498. I think its a bargain at this rate.

bounced strongly off the 25ma, hammer on the candlesticks, i'm in again at 157.75p, read the recent ATON report last night and just couldn't be out ;-)

After reading the latest news bellow bought some more.

CNOOC Chief Economist Predicts $90 Oil by March

RI article on the views of Xia Yishan, Senior Research Fellow at the China Institute of International Studies.

SHANGHAI (Interfax-China) -- Oil will peak at $90 per barrel by March of next year, CNOOC Dep. Chief Economist Zhang Weiping said at conference discussing China's energy needs in Beijing on Monday. Zhang also expected global oil production to peak at 94-100 mb/day during the next five years.

"High oil prices will have adverse affects on China's economy," said Zhang.

Their imports could reach or even exceed $60 billion this year, up from $40 billion in 2004. Interestingly his views do not reflect much of a cutback in Chinese oil imprts.

China's annual crude demand is expected to rise by 9.7% this year, suggesting that the country will need to import 135 million tonnes this year, accounting for 42.45% of total demand and exceeding last year's figure of 40.5%, said a recent report by the Development Research Center under the State Council.

The country's net oil imports stood at 120 million tonnes in 2004.

LONDON (AFX) - Dana Petroleum PLC said it was offered 4 new licences, awarding interests in a total of 20 offshore blocks, as part of the UK Government's 23rd offshore licensing round.

'These significant awards will position Dana to build upon its successful track-record of UK exploration activity which has already delivered further oil and gas discoveries this year in the Melville and Barbara areas,' said chief executive Tom Cross.

Dana has a 30 pct stake in two of these licences, comprising 17 blocks, while DONG (UK) Ltd has 40 pct and GDF Britain a 30 pct interest. The third West of Shetland licence, in which Dana has a 30 pct stake and OMV (U.K.) Ltd 70 pct, comprises the majority of Block 204/14. The fourth new licence covers two Southern North Sea Blocks 42/28d and 42/29b.

Dana was one of 99 companies offered a record 152 oil and gas production licences under the 23rd licensing round.

Granby Oil and Gas PLC said it was offered 12 additional blocks and part blocks under six licences in the North Sea, taking its total to 22 blocks and part blocks.

'The new plays and prospects in this acreage have increased the value and diversity of our portfolio significantly,' said Granby managing director David Grassick.

Granby will be partnered by geophysical company TGS-NOPEC in a number of the licences in the Southern Gas Basin, while Faroe Petroleum PLC will be operator and 50 pct partner in one of the awards in the Central North Sea.

Elixir Petroleum Ltd has the option to be assigned one half of Granby's interest in four of the blocks awarded. In a separate statement, Elixir said it was offered interests in six licences, covering seven blocks. In additional to its alliance with Granby, Elixir has been offered 100 pct in one block and an 80 pct stake in a second that it will work with Sosina Exploration.

Faroe Petroleum, in which Dana is the largest shareholder with a 17.2 pct stake, said it was awarded three licences, including four blocks and part-blocks covering about 640 sq km. The award raises the number of licences held by the company to 14, of which it operates seven.

It said the new licence work programmes will be fully financed from its existing capital.

Oil Quest Resources PLC said it was given a 30 pct interest in Block 43/6 in the Southern Gas Basin of the North Sea. Operator Virgo Energy Ltd will have a 60 pct stake and Vectis Petroleum Ltd 10 pct.

Black Rock Oil & Gas PLC said it has been offered the award of the eastern part of Central North Sea exploration block 22/8a with its partner Houston-based Carrizo Oil & Gas Inc. Black Rock has a 15 pct interest in the block, while Carrizo is the operator.

The award 'represents a significant addition' to Black Rock's portfolio of UK offshore exploration prospects,' said Black Rock's managing director Ivan Burgess.

Grove Energy Ltd, with assets in Europe and the Mediterranean, said it has been offered two blocks in the Central North Sea -- 21/28b and 21/22 -- and four in the Southern North Sea -- 42/8, 42/9, 42/12 and 42/14. Grove has a 30 pct interest in the Central North Sea blocks, and Sterling Resources UK Ltd is the operator with 50 pct. It also has a 25 pct interest in the Southern North Sea blocks, with operator Sterling holding the balance.

sorry folks got carried away ! the above information relates to Dana Petroleum and others, what I realy wanted to know didnt DGO apply for any of the licence.

tempted to get back in again as looks as though rally about to begin again see plenty of support at 150p and resistance around 180p with minimal spread can make some money

any news on when results are out ??>?

Bought some more again today. Agree with you GG it should move up to the next resistance around 180p

anyone got a view of the widening spread of DGO ?

imho mm playing games as short of stock again

Ticking up nicely today, interims out sometime this month ( i think) lets hope its good, can't see any reason why it shouldn't be.
Auto

interims due before end of month, bit of re-shuffling at the top could be to make way for a full takeover bid by Lukoil. also loads of news due..

DGO has had a much needed rest from a TA perspective and i can see this wearing down 180-185p resistance in the next 2 weeks before bursting through into new territory...

rang the london office yesterday they say results 'immenient'

lets hope the results are all honky dorey, if so then we should see 2+ very soon

''hOnky dorey''??

honky dorey= all is going as planned,even better

Anyone any idea for the drop in SP despite such good results?

Up 7p. today so far,agreat stock to have, see rise over last year.

http://uk.biz.yahoo.com//27102005/323/cnpc-completes-purchase-petrokazakhstan.html

on the turn north, after good news today of back to full production,looking for aboVe 230 by weekend.

Back on the 06/04/04 I bought 5000 of these for 38.25, costing me a meare 1944.13. 2 years down the line the offers 200 worth 10K....... I wish I'd held onto these..... Having said this I may be back, DGO is the best placed share if Iraq ever calms down to exploit the northern fields and already has a Kazakhastan workforce and good infrastructure to support...

which way?

It's like a dead body. No attention!1 Why?

http://moneyam.uk-wire.com/cgi-bin/articles/200605110758427946C.html

Dragon Oil PLC
11 May 2006


PRESS RELEASE

DRAGON OIL plc
('Dragon' or the 'Company')



SIGNING OF CONTRACT FOR JACK-UP DRILLING RIG


Dragon announces that it has signed a contract with Lukoil Shelf Limited
('Lukoil') for provision of the Astra jack-up drilling rig ('Astra') for use in
the Cheleken Contract Area offshore Turkmenistan.


The Astra is expected to commence drilling operations for Dragon in the Cheleken
Contract Area from early September 2006 and the initial contract duration will
be six months.


Dragon plans for the Astra to drill one development well in the LAM field and
one exploration well (which may have an optional sidetrack) in a near-field
prospect known as LAM West. This near-field prospect of LAM West has been
identified from data acquired and processed from the recent Marine 3D Seismic
Survey carried out over the entire Cheleken Contract Area.


Engineering works are in progress to support the planned well activities for the
additional Astra rig. These engineering works include the installation of
additional drilling slots on two existing platforms and the future installation
of topside facilities and sub-sea pipelines.


Hussain M. Sultan, Chairman of Dragon commented:

'I am very pleased that we have secured the Astra from Lukoil Shelf Limited. Our
field development plan, utilising the services of a second drilling rig, will
enable Dragon to fully explore, appraise and develop the Cheleken Contract Area.
We view the signing of the contract for the Astra, albeit for six months, as an
important milestone in our continued growth.


The identification of the near-field prospect of LAM West from the results of
the Marine 3D Seismic Survey shows us just how important the Marine 3D Seismic
Survey was to our planned filed development. '


Ends


Citigate Dewe Rogerson (+44 20 7638 9571)

Analyst enquiries: Nina Soon

Media enquiries: Martin Jackson / George Cazenove


Dated 11th May 2006



This information is provided by RNS
The company news service from the London Stock Exchange