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.

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.

DGO is down today at 124p...no support in sight

$840m CASH in the bank, no ($0) debt and printing money with target 100000 bopd.
Gas coming to the market.

95-98p of the share price is in the bank. 50000 refining facility should worth 100p a share, never mind the rest.

DGO could be 12 if the market was not so negative.

http://moneyam.uk-wire.com/cgi-bin/articles/200810220700123866G.html

Given the exchange rate today, they have about 1 per share cash in the bank and printing money.
DGO didn't face any problem during conflicts in Georgia. They sold 100% through Iran.

why is this price so low then?

can this fall much lower? any chartists here?

DGO does not sell oil in . So cheaper is even better. Given the exchange rate today, about 66% of share in CASH.

http://www.aibcorporate.ie/servlet/Satellite?pagename=CorporateBanking/aib_corporate_banking&cid=1177400300623&c=CBContent&channel=C001&goodbodymorncomment=1214390241617

Over $800M in the bank, PE around 2-3 and no debt.
Am I missing something?

Only that sentiment trumps just about everything at the moment...but not forever thankfully.

Just bought back in,a piece from an offical Turkmenistan website which gave me the confidence to do so.

"Highly appreciating the companys activity Gurbanguly Berdimuhamedov noted with satisfaction that its expertise could set an example for many potential partners whose intense interest in co-operating with Turkmenistan increased after the results of the international audit had been officially presented."
cyril