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.

Be patient for 12

This stock is spooked....sold some a week ago but still in with a lot....worst one of the producing oilies....ridiculous drop now with nothing but good news coming from this company..............:-( .

if their potential is (primarily) based in or has to be piped through Iran, then there is a hell of a lot for the investor to worry about!

neverthelees, it's certainly one to keep ones eye on as it will no doubt turn around in due course.
perhaps target +/-395 as re-entry point where 200 dma is hit

iran is an option but they r dealing with bp right now with regard azeris and then route through europe via turkey

maybe its just the summer blues.....although every day is a battle in uk these days whether its winter or summer

now 458p as i type.

i reckon mm's read what i typed as i'm sure they reckon middle east is nottinghamshire, lol

this was 413p in morning, it has went up more than 40p!
oh, and oil still up and will continue to 2009 and beyond.....it might go down on dips but oil is going up as everyone uses it now

Forward PE is less than 4 and improving given oil above $100 IMO.
Dividend can be around 50p

No dividend but big potential with Gas !

not a stock i really follow, but what is the (alleged) reason for DGO's plummet from grace?
looks like 395/400 will be hit some time soon, and if there is no real news to explain, that could be a good time to dabble

I'm stuck in this...can't get over the drop....did not expect such a pullback...no debt and producing somewhere between 40000 to 50000 barrels per day....only worry is with oil being routed through Iran; perhaps investors are worried that Iran will cut off the pipeline of deliveries in the case of worsening relations with the West, very unlikely at the moment or one of the producing wells has been shut down (no mention from the company as yet)....so the severe drop is a mystery to me...well overdone!.

rf
im sorry you feel stuck in this.ive been there and it is not nice.
please re read your posts 101 and 103 page 6.
maybe today is a timely reminder.
i do sincerely hope you come out safely and soundly.
best regards to you
jkd

Thanks jkd, but it's not as bad as it sounds....I can just click the sell button at any time and make a large profit, but not as big as if I had sold at the top....(difficult to call), I've made quite a bit of money on oil stocks....the mistake I make is to reinvest the proceeds far too quickly....I still think this drop in DGO is overdone...., there could be a rebound for a lot of these producing oil stocks very soon, and a serious climb when one of these companies puts out a note saying : "that they expect profits to be ahead of market expectations", that could be coming soon !.

given a dire NY on friday, it is hard to envisage London opening other than heavily down again ..... that said, DCB is also a reasonable bet once the dust has settled, and it is certainly far from imposible that, during some point in the day, you will see DGO down to that 395/400 level that i mentioned above

i'm not bothered about 1 day effect cynic........where will dgo be in 6 months....or 2 years..........hopefully above 6 is what i'm looking for

no idea, any more than you have

well oil price will be higher than what is right now in 2009.......oil might slip back to about 120$ perhaps but certainly not to $100 or below again.

and i expect further good news from dgo in next year with increasing production figs........these 2 things together should give price of min 7

and you have inside knowledge of this or at least something other than blind optimism on which to base your forecast?

Scot the real upward value for DGO is the stranded "gas", once the pipelines have been agreed and completed who knows where the SP will be? Unfortuately it
seems to be a couple of years away.But in the meantime we must wait for the
upgrade in reserves and increase in daily output, which has been promised for nearer year end.
cyril

Trading statement due on 24/7/08 according to their website.

yes....thanks cyril

i have been reading well informed posts on iii.......some great reads plus many other threads too......some very knowledgeable or informative there compared to moneyam.

as for oil price cynic......well iran, gazprom.....and goldman sachs are predicting 200$ or even 250$ by 2009........even if it doesnt go this far, oil will go higher than it is right now.......and higher oil price means less production as its politically harder as bp leader has just stated......and less supply means higher oil price....ouch

in any event, even in a few years time, we will definitely have reached peak oil....if not already.......i was at a conference 5 years ago on talking about peak oil even back then

and i'm not optimistic about oil price going up......ok, it might be good for some oil companies.....but everything elsre in economy is screwed.

so extremely high oil sp doesnt please me, nor should it be the case for any decent human being.