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.

go to iii cynic.....theres some great info about dgo in future......apart from cyril brief post tonight, very little is typed about dgo here

re oil price.....to be honest, i'm fed up listening on news every day about people bleating about it.....bbc news esp is nothing more than tittle tattle rather than investigative journalism

problem with oil is refining......also, its the type of oil thats important too

cyril the trading statement scheduled to be released on 24th July will probably contain production information etc which is the same information contained in the interim results.

woaded one ..... i do not doubt that DGO prob has good potential ..... it was more your bald assertion about future crude price that i found pretty asinine or naive or any other suitable adjective of that genre

given a dire NY on friday, it is hard to envisage London opening other than heavily down again .......lol, another total wrong prediction.

just got news on channel 4 and a fund oil analyst predicts 150$ in next 24 hours.

cynic, to be honest, your contemptuous words, apart from using provacative language, u should try reading informative posts...and i dont care what you type....try doing some work. i'm just oot my bed, had a great sleep

ps: whats this woaded one nonsense

sp for once ramping up a bit today

http://www.davy.ie/content/link3.html
Perhaps this might help calm things a little?
cyril

why does a share price need to go up cos some numpty analyst says so? most shareholders i would imagine do some homework on companies to judge whether to buy a share.
mind you, usa companies like citi etc really have no integrity left.....i'm hoping a few of them go bust....it would be great to shut up the yanks

cheers for link cyril....i read it earlier on today

Oil prices 'will not come down' says OPEC boss
By Edmund Conway
Last Updated: 2:40pm BST 24/06/2008



The cost of a barrel of crude oil has edged closer to its all-time high after OPEC president Chakib Khelil warned that oil prices will not come down. Ahead of a meeting with EU officials in Brussels today, he said that the cartel had done all it could to ease prices.


His comments pushed up benchmark crude in London by $1.24 to $137.15 a barrel - it hit an all-time high of $137.69 a barrel on June 6. The spot price - the cost of buying a barrel of oil for delivery that day - has risen close to $140.

European Union Energy Commissioner, Andris Piebalgs, said he was not convinced speculators are to blame and repeated his call for the Organization of Petroleum Exporting Countries to pump more oil and scrap production quotas. But OPEC Secretary-General Abdalla el-Badri said: The market is currently hijacked by speculators, including hedge funds. There is no shortage of supply as I said before.

OPEC members besides Saudi Arabia have no intention of raising output to bring down near-record prices, he said. This will be the main point for todays discussions, which will also include Mr Khelil and French Energy and Environment Minister Jean-Louis Borloo.

Saudi Arabia, the worlds biggest oil exporter and OPEC producer, plans to raise production for a third straight month in July and will further increase output as needed to curb record-high prices above $135 a barrel.

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Saudi Oil Minister Ali al-Naimi announced the increase at last weekends summit of 35 producing and consuming countries in the Saudi port city of Jeddah. Mr Khelil and ministers from Venezuela and Libya have said the Saudi initiative would fail to lower prices.

Speculators have almost doubled their share of the New York oil futures market, according to figures provided for the US Congressional Energy and Commerce Committee by the Commodity Futures Trading Commission.

Between 2000 and this April their share of West Texas Intermediate contracts rose from 37pc to 71pc, with the rest accounted for by companies such as airlines hedging against price rises.

Many analysts now expect crude prices to shoot up towards $200 a barrel as the growth in global demand for energy outpaces the supply.

However others, including billionaire investor George Soros, have warned that the price could soon fall back sharply, and that the price looks like a bubble.

John Dingell, chairman of the Congressional committee, said the growth in speculative activity "raises troubling concerns about whether the oil future prices have become de-linked from underlying supply and demand fundamentals and whether the commodities markets have become a casino for unscrupulous speculators who profit at the expense of the American people".

Presidential nominee Barack Obama has pledged to control oil speculation if he gains office, ensuring, among other things, that US energy futures cannot be traded offshore unregulated.

Julian Jessop, of Capital Economics, said: "I've no doubt that there is some speculative froth in the market... it's impossible to prove if it is contributing $5 or $50 to the price.

"More recently [since April] speculative positions have been flat or falling, while prices have been rising sharply," he added, saying speculative activity could not explain the recent sharp increase in price from $100 to almost $140 a barrel.

However, analysts expect that with China, Indonesia and other emerging nations cutting subsidies on their domestic oil prices, demand may soon drop.

The fact that oil prices have risen, rather than fallen, may embarrass Gordon Brown, the Prime Minister, who flew out yesterday to the Jeddah meeting to urge producers to pump more crude.

oil now at highest over 140$....it barely moves dragon up.......150p down in a month.....little volume, big seller, oil price went down one day.....all sort of excuses used.

but 30% down and sp still barely moves when on increased production and massive oil price......theres been complaints to fsa by the way about mm manipulation on this share and issues of short selling

at least this is rising again....a bit of sanity restored given the huge oil price

i thought oil was at highest price so why is this going down

Because of its location in Iran...Iran is threatening to attack Israel.

ANd at the same time Israel doesn't like Iran so much. I think there will be just a show of power than a real fight.

Anyway, you never know!! No one was expecting a real fight in Iraq.

iraq has shown reasons for not having attacks in future.

anyway dragon are in turkmenistan....and are having talks with russia...and bp....about other routes

Routes do not appear overnight...and the Iranians are shooting missiles into the sky...these spell danger for DGO.

There would have to be a full scale war for the Iranians to pull the plug on DGO supplies.....I don't think we are there yet !.....in the meantime the stupid sabre rattling is keeping oil prices up.....the Iranians would gain more by making friends with the West, not antagonising everybody !, with checks from the nuclear international community they can have nuclear power and help. If war was declared : all oil companies including BP, BG, Total.....etc...would be affected not just DGO......could the major oilies that operate in the vicinity just carry on without being disturbed in a fullscale confrontation....of course not...!.

Perhaps this is the plan by the Arab world ; "to always have a rogue state that's going to irritate the West....sometimes the Iranians......a few years later it's Libya again, then Syria and so forth.....always an irritant state available.....", therefore keeping Oil prices high.....with the supposed condemnation by the rest of the Arab world, but behind the scenes, ...some satisfaction !.

As long as US and Russia are not in the boat, Iran will stay a safe place to trade, and oil price will continue to hold at highest levels possible.

Arabs and Russia can solve the problem, but they like the dispute to go on. Iran is gaining too. ALL IMO

Very much in this one....hoping for a rebound back to some decent levels.