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.

mbugger,
Are you short on this?

Of course ... this is a good short...been shorting DGO from 270p.

hlyeo98,
I didn't know you are mbugger!!!

Well, DGO is crumbling again, ahoj...I'm not sure DGO is printing money as you think it is. You are over-optimistic imho.

49K bpd production with little cost. They are selling comfortably through Iran and other routes. About $600M in bank. etc
Aren't they making high double digit profit as long as oil is between $44 and $108? I know outside the range, the profit will reduce dramaticaly and they may even lose money as they did (DGO lost $91M) during summer when oil was above $108, up to $147.

Let me know why not?

DGO is on a slippery slope now.

looks to be decent support around 150

http://www.moneyam.com/action/news/showArticle?id=3271161

Still crashing...153p now.

hyleo ..... just maybe worth a long punt at 150

It's too risky, cynic. The chart shows a steep drop...150p would be easily breached no doubt.

only oilies i hold at the moment are EO. and HAWK ..... agree that i can't get excited about oil sector at all .... just look at PMO after a good update this morning .... down a further 45p

I sold some of these some time ago...lucky I did !.....but the rest of my holding is being stuffed at the moment (I'm even thinking of dipping myself in breadcrumbs and flour).....This really looks incredibly cheap...but then again so do many others....HAWK and AFR to cite but a few !.

I'm not sure about cheap but it could be even cheaper when oil price comes down.

i expect the botom of the crude price to be +/-$95, so on that basis, you can start looking again at fundamentals - i.e. does the company have any true assets or just loads of blue sky.

neverthless, expect some nasty prices at tomorrow's opening, but those may be quickly reversed.

150p support broken easily

and then some! ..... Dragon's fire seriously extinguished!

Have they stopped pumping oil?

must be pumping water to put out dragon's fire!

Bought in today, feel that the price of oil is a waiting game as with most commodities before we see higher prices.