First ever post...! Dragon Oil, I have done well with this share in the last two months but now it is heading for the weeds. I have hunted the news for clues but have found nothing. Anyone got any ideas or thoughts on this stock?

Either overbought or oversold. Forced selling happenned yesterday, I think...
Just under 160M profit, little bedt if any, increasing production etc. You value it!

If the media were not so unkind, it could be around 5 IMO

5 lol.....

About 160M profit last year. Higher oil price and higher production should help to push market cap higher than 770M

Heavy selling today in the face of rising oil prices and a lack of company news says something isn't quite right here.

Don't forget this recent article. Along with company policy of ignoring shareholders, it helps to explain the bad share price.


"Dragon Oil pipeline blockage hits production - 07.03.2006 (Moneyweek)

Dragon Oil took a pasting today on news of a temporary blockage in one of the feeder pipelines at the LAM field, offshore Turkmenistan, resulting in a loss of production of around 5,600 bopd.

Initial attempts to treat the blockage were not successful and subsequent measures were inhibited by weather and equipment availability, said the group. Dragon will continue to treat and hopefully clear the blockage with speciality chemicals.

The company said it will lay a new pipeline between the LAM 22 and LAM 10 platforms as an alternative flow system from LAM 22. This is expected to be completed and commissioned by early April.

Operations on the LAM 22 platform are currently suspended resulting in a total short term daily loss of production of approximately 5,600 barrels of oil per day."


It pays to be cautious!

Fez, You are misleaded. See the updates. DGO has been fast to rectify that. Such problem shouldn't happen anymore.

Dragon Oil PLC
11 April 2006

LAM 22 PRODUCTION RESTORED

Dragon today announces the following update in respect of its operations in the
LAM field, in the Cheleken Contract Area, offshore Turkmenistan.

On 07 March 2006, Dragon announced that the LAM field feeder pipeline had become
blocked and that work was in progress to install an alternate flow system.
Dragon is pleased to announce that, following the successful installation and
commissioning of a new 8-inch pipeline bypassing the blocked pipeline,
production has been restored from all five wells on the LAM 22 platform.

The new 8-inch 21/2 kilometre pipeline connects the LAM 22 platform to the LAM
10 platform, thereby restoring production from LAM 22. The new pipeline was
installed in accordance with the planned schedule.

Hussain M. Sultan, Chairman of Dragon commented:

'I am very pleased that we have restored production from the LAM 22 platform in
such a short time. We have decided to upgrade our pipeline infrastructure
further to complement our capital expenditure programme that includes the new
processing facility, platforms and upgrade of the marine export facility. This
supports our continuous drilling programme which is necessary to increase
production.'

Citigate Dewe Rogerson (+44 20 7638 9571)

Analyst enquiries: Nina Soon
Media enquiries: George Cazenove

ahoj
fez is a deramper, ignore.

Either way the article only managed to if anything widen the spread, in the recent commodities shake up all shares took a battering. For stocks in this sector and 'overbought' it was even worse.... Check the history for yourselves.... All commodities are taking time to recover and for the 'overbought' recovery looks to be slower!!

According to the trades today, it appears that at least 2x91k and one 267K are invested in this one this am. If we consider the price people pay for oil companies floated in Russia, DGO is well well well below it's real value.All IMO

lots of ATs being triggered today, could cost the sellers dearly

.

dose anyone think dragon oil shares will rise now they have another rig