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.

US is going to meet Iranians this week to ... hopefully resolve the issues.
http://www.moneyam.com/action/news/showArticle?id=3102514

http://moneyam.uk-wire.com/cgi-bin/articles/200807160700041350Z.html

Increased production with the RNS today; but still not the flavour of the month this stock...!.

obviously the driilling results were considered pretty poor

Their record has been great. They have always improved production rate.
Watch this section: http://biz.yahoo.com/ap/080716/cleveland_cliffs_alpha_natural.html
bids coming at over 50% higher than the current prices...

http://uk.biz.yahoo.com/080716/214/i3a0z.html
That's about 100,000 more profit a day.

Well that solves the Iran problem....soon oil will only go through Turkmenistan !.

dgo had many posibilities.......iran should never have been an issue with sp.....sp manipulated for any excuse....vol, oil price, iran....its pathetic.

anyway in a year or so, this will be 7 quid plus

sorry old son, but you really cannot just ignore the tinderbox of iran albeit that some sort of uneasy compromise may be sorted out in the coming months ...... which may or may not hold up for more than 2/3 months!

i aint bothered about iran issue with dgo.........as for any planned attack on it, well i dont think we will be worrying about shares somehow.......i imagine end of world looming

it aint an uneasy compromise.....do u know anything about dgo? i seriously doubt it

not really other that it seems quite a promising little oily .... however, if i have understood correctly, much of its potential has close connections to iran

no cynic

one of its routes could be through iran......but they have russia and caspia as alternatives

and they will be producing more in future.....and oil price aint been factored in at all

next 2 years of holding and these prices will be laughed at

in that case, perhaps the plunge is quite strange and/or overdone.
however, if DGO not actually producing, then today's oil price is not strictly relevant.
and no, assuming all calms down etc, then would not disagree that DGO may well prove to be one of the better minnows in the next couple of years

Many Russian and Chinees companies like the sanction to go on as long as possible so that they can continue to dominate Iran's market and gain out of this conflict. Iran is a big country and a good market for Americans. They will get it eventually, but with peace.
DGO will continue to gain out of this though.

cynic I agree the sp drop seems odd you don't think it might be jewish investors selling because of the Iranian connection?

not at a loss for sure - lol!

Excuse me butting in on this thread, but a couple of points/questions.
Turkmenistan borders Iran? Surely it stands to reason that neighbouring countries to a potential aggressor are going to see their trade suffer?
The rig currently working the Dzheitune (LAM) field is described as ''The Iran Khazar rig is currently drilling the 8 " hole section of the Dzheitune (Lam) A/129 well with completion expected in August 2008". Does this mean it is leased from them? If so, I can see problems. DGO are currently servicing their own platform, but won't be ready 'til late 2008, plus tendering for 4 others. Therefore, availability of rigs may also be a problem.

Just to add to the above, from the Energy Admin Org U.S.A.,
"Many of the prime deposits are located in disputed areas of the Caspian Sea, and without an agreement between Iran, Azerbaijan, and Turkmenistan on maritime borders, these fields will likely remain undeveloped."
Another company which was exploring in the same area was Burren Energy, which was taken over (by ENI or another Co). Might be interesting to see if their sp has suffered, but can't remember which Co it was.

BUR was a much larger enterprise with exploration rights etc all over the place, so not comparing like with like