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.

i am afraid "long way south" applies to a great many oil and mining stocks now

Yes, I agree cynic. The mining sector is a great one to short now mainly ANTO, POG, AQP, etc. Recession is looming closer and inevitable. US economy is going into the dumps with the Feds busy rescuing banks, mining will go literally under.

Short the miners!

indices are almost a surer bet i would have thought .... have jusy shorted Dow actually .... and also ASC, for tho it is damn good company, sp is just too far ahead of itself

This is getting more serious in the region where DGO is operating...


Tuesday September 9, 2008


Russia plans 7,600 force in Georgia rebel regions
By Conor Sweeney and Oleg Shchedrov

MOSCOW (Reuters) - Russia announced plans on Tuesday to station about 7,600 troops in Georgia's separatist regions, more than twice the number based there before last month's war and a level likely to alarm the West.

Russian Foreign Minister Sergei Lavrov said troops would stay in South Ossetia and Abkhazia for a long time to prevent any "repeat of Georgian aggression".

Moscow's intervention in Georgia last month, in which its forces crushed an attempt by Tbilisi to retake South Ossetia, drew widespread international condemnation and prompted concern over the security of energy supplies.

Russia agreed on Monday to withdraw its soldiers from areas outside South Ossetia, and the second breakaway region of Abkhazia, within a month, but troops inside the two regions were not explicitly mentioned in the French-brokered deal.

Briefing Russian President Dmitry Medvedev on talks with the separatist leaders, Defence Minister Anatoly Serdyukov said: "We have already agreed on the contingent -- in the region of 3,800 men in each republic -- its structure and location."

Russia angered the West last month by recognising Abkhazia and South Ossetia, which threw off Tbilisi's rule in separatist wars in the 1990s, as independent states. Nicaragua is the only other state to have recognised their independence.

Lavrov also met the two separatist regions' foreign ministers on Tuesday to formally establish diplomatic ties, a step likely to further irritate Western governments.

Asked at a news conference how long Russian forces would stay in South Ossetia and Abkhazia, Lavrov said: "They will be there for a long time, at least for the foreseeable period. That is necessary to not allow a repeat of Georgian aggression."

PEACEKEEPING FORCE

Russia has said it was morally obliged to send in its military last month to prevent what it called a genocide in the separatist regions by an aggressive Georgian government.

Before fighting broke out in Georgia last month, Russia had a peacekeeping force of 1,000 servicemen in South Ossetia and a contingent of about 2,500 in Abkhazia. They were operating under a peacekeeping mandate dating back to the 1990s.

Russia has welcomed the European Union's role as a mediator over Georgia but in sharp contrast, it has accused the United States of contributing to the conflict by arming Georgia and failing to rein in its leadership.

Russia's Foreign Ministry said the White House's decision to rescind a draft agreement on civilian nuclear cooperation with Russia was "mistaken and politicised."

U.S. Vice President Dick Cheney, who visited Georgia last week to show solidarity with the ex-Soviet state, said in Rome on Tuesday that the international community was united in deploring Russia's military action.

LIMITED RESPONSE

Both the European Union and the United States have warned Russia it could face serious consequences over its actions in Georgia, but the scope for punitive measures is limited.

Europe depends on Russia for more than a quarter of its gas supplies and Washington needs Russia's cooperation in efforts to curb Iran's nuclear ambitions.

After four hours of talks outside Moscow on Monday, Medvedev and EU leaders led by French President Nicolas Sarkozy agreed that Russian forces in buffer zones outside South Ossetia and Abkhazia would pull back within a month.

They are to be replaced with an international monitoring force which will include a 200-strong EU contingent.

Questions remain about Russia's dominant role inside the two separatist regions, where most residents hold Russian passports.

The fighting in Georgia worried energy markets because it was waged near the route of an oil pipeline that can pump up to 1 million barrels of crude per day from the Caspian Sea. The pipeline is favoured by the West because it bypasses Russia.

The International Court of Justice in the Hague, the highest United Nations court, this week began hearing Georgian allegations that Russian violated the human rights of ethnic Georgians in the separatist regions.

Anatoly Nogovitsyn, deputy head of the Russian military's General Staff, said Russia had nothing to hide.

"At this trial, our position is calm and dignified," he told foreign military attachees. "I am firmly convinced that the Russian Federation took the only right decision."

I don't want to wish bad things and destruction on people but there is a strong possibility of hurricane "IKE" coming to the rescue of the oilies.....if that monster crashes into the path of the Texan oil installations there could be serious damage and an inevitable rise in the price of crude....we shall see in the next few days...I still can't believe how fast oil has come down....incredible !.

PS., if you want to track the path of the hurricane : log on to bbc.co.uk/weather and then follow the link to the American national hurricane center....the satellite pictures are amazing !.....(the Saffir-Simpson Hurricane scale).

they reported great results recently, have plenty of cash and no debt, UNDERVALUED IMHO

Got this right again...sooner than I thought

Can anyone give me some education here? On financial websites, what does '1 year target estimate' mean? I ask because I read somewhere that the 1 yr target estimate for DGO on Yahoo finance is 7.2p. When I checked, it had dropped further to 6.65p. The 1 yr est for TLW is 1058p(Current 738p) and for Cairn Energy it's 3,875p (current 2,250p). For Heritage Oil it's 382.33 (current 210p). Does this mean that in the next 52 weeks, the share price of DGO will be 6.65p from it's current price of 217p?

somewhere!!! Where is it?

http://finance.yahoo.com/q?s=DGO.L
Where? On the DGO thread at www.iii.com. Check this link anyway. The value in question has now become N/A (not applicable???), after the turmoil in todays markets. More cause for concern? NB I am not trying to be a prophet of doom- just asking for some education from hopefully the more knowledgeable!

If they could predict the price by year end, they would be billioners.

time to add.

why?

350M in bank, printing money as long as oil is above 44p.

sp and direction say otherwise, whether fair or not

this is going to gasprom,last year a deal was made to shaft shareholders,and give it to the russians,last week the sheik walked [with a huge backhander no doubt]what next,33p.,

this is going to gasprom,last year a deal was made to shaft shareholders,and give it to the russians,last week the sheik walked [with a huge backhander no doubt]what next,33p.,

fido is a joker.

mbugger,
Are you short on this?