Dragon Oil plcs principal production and exploration interests are located in the Cheleken Contract Area in the Caspian Sea, offshore Turkmenistan. The Cheleken Contract Area covers approximately 950 sq.kms and comprises two offshore oil and gas fields, Dzheitun (LAM) & Dzhygalybeg (Zhdanov), in water depths of 10 to 37 metres.

            Red = 25 day moving average.           Green = 200 day moving average.

From their web site, Interims out next Wednesday.
cyril

Back above 5,with DGO's represenative giving a presentation at the London forum
and the interims due on Wednesday, the market must be impressed?
cyril

Now, can it pull away from 500p ?

Ouch ! that will have caused some trouble amongst cfd's and bet spreaders !

The reason for the sudden drop?
http://www.investegate.co.uk/Article.aspx?id=200804221427238721S
Out this pm so a great top up opportunity missed, see things are almost back to normal.
cyril

Stop losses will have been triggered this afternoon....!

Yes i heard of some investors who have thiers triggered,bad news out of the way before tomorrows interims. Wonder what they have in store for us?
cyril

http://www.investegate.co.uk/Article.aspx?id=200804230700318874S
Excellent.
cyril

I like his part:
Development wells Dzheitune (Lam) A22/124 and A/125B were completed
producing at combined flow rates of 2,414 bopd and 4,082 bopd
respectively

100% success in he last few years. Oil in Persian gulf area is disappearing fast. Russia to join them soon... DGO is well places though

With hints of possible new licenses and the tenders for up to 4 jack up rigs(in addition to what we already have)being read as positive, the SP is testing new highs. Those whose stops were tripped out the other day must be sick and on news which was already in the public domain,so a bit naughty imo, for my part i have mine tuck safely away in my ISA.
cyril

cyril

i stupidly bought on tuesday morning before the mini crash....as usual i bought at the high where it is right now as i type this.....i bought on simple fact that oil is going to go even higher....and its a producer with increasing productions

Scot i had a similar experiance with BRR, bought a day to early, but the bigger picture is what matters and 5+ will imo seem cheap in the not to distant future?

cyril

ticking up nicely

http://www.investegate.co.uk/Article.aspx?id=200804290700332582T
cyril

what the hell is going on.

was up to 536p..now its 503p

crude price softened ..... both PMO and TLW were down too, so across the board

softened yes cynic.....but not down 10% or something nearer

nor did DGO really ..... fyi, high/finish TLW 775/748, PMO 1565/1526, but they are much larger cap companies

Read this am that shorters were in action, looking at the number of 1000 trades
could very well be, so a possible 480p, which will allow a reasonable top up point?
Broker commenting on todays RNS believed they would achieve an average of 44,000bopd for 2008, up from 37,000 a 20% increase add to this a reserve update
and perhaps somewhere between 6/8 is a likely?
cyril

http://www.dragonoil.com/
Annual report now on their web site.
cyril