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.

There was once a little company called Microsoft in 1978..........!

I'll never live this down..!

serves you right - lol!

lol...

at least he (and you!) did not recommend SEO or EXP or EEL or a few such similar!

Coming back to the real issue, oil, all you need to get the price of to go through the roof $120 + is : a couple of nutcases in speed boats with explosives, one slams into Iranian ships, the other one slams into Allied (GB and USA) ships and there you have it : (the script for the next James Bond movie), which means it only takes a little something for oil and energy prices to fluctuate violently.

Or a major oil refinery fire......or a giant oil spillage in Alaska......or a civil war in Nigeria...............?

Well yes, there's more of a risk of oil going up than down, there's a shortage and that's that.

Not according to city dealers expect to see oil prices fall to $60-70 as speculators feel the world economies slowing down............unless say the Straights of Hormuz become a war zone. Now who would want to do that?!!

People have to drive their cars to go to work, buses, lorries, all this runs on oil at the moment (fuel cells might change all this, I hope they will). Are they going to use their means of transport a lot less, the answer is : only a little, they can slap on all the congestion fees in the world but if you have to drive to go to work then you have to use transport, the population is increasing not just in this country but all over the world. In southeast Asia the demand for oil is everincreasing so what we might save in this country is counterbalanced by the huge increase in these rapidly developing countries, so frankly speaking oil prices at $60 a barrel : not impossible but highly improbable, if they did drop to this there would be a very strong rebound.

Interesting comparison from another board between Cairn and Dragon?
Cairn Dragon
Turnover 286m 320m
Profit -90m 224m
EPS -52p 35p
Market Cap 3.6b 2.08b
cyril

http://www.davy.ie/content/link6.html
cyril

Really flying, I just hope the Iranians don't spoil the party, didn't I read somewhere that some of their oil is routed via Iran ?

Telegraph Questor column said buy today.

http://www.telegraph.co.uk/money/main.jhtml;jsessionid=2MJAA0JFKERKJQFIQMGCFFWAVCBQUIV0?view=DETAILS&grid=&xml=/money/2008/01/08/cxquest108.xml

This might take off again tomorrow!

Some excellent reading. Click on Analysis; Celtic tiger roars in Ashgabat
http://www.upi.com/International_Security/Energy/Analysis/2008/01/11/celtic_tiger_roars_in_ashgabat/8138/
cyril

As jimmy cricket said, and theirs more
http://www.neurope.eu/articles/80263.php
cyril

cyril, if there`s more put it up, great link, thankyou.

.

From BACH on advfn:

THE GAS IS ON ITS WAY:



BACH IS DEAD - 12 Jan'08 - 20:23 - 8700 of 8701


Company chief exec Hussain Sultan said a meeting with the president of Turkmenistan on Boxing Day brought agreement for a move to exploit the gas locked in the Chelekan License.


http://bajaenergys.blogspot.com/2008/01/turkmenistan-dragon-breathes-life-into.html

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well IMO that sentence makes it pretty unequivocal that DGO have been given the green light to move ahead with its plans to begin exploitation of its massive gas reserves!

A leap in earnings over and above sale of crude is now a done deal for 2008

Bring on the upgrades!!!!



BACH IS DEAD - 12 Jan'08 - 20:38 - 8701 of 8701


The most likely suppliers of gas on the part of Turkmenistan are Malaysian Petronas, British Burren Energy and Dragon Oil headquartered in Dubai. Taken together, they can provide 5 billion to 6 billion cubic meters of gas in 2010 for the Central Asia-Center pipeline, 8 billion to 9 billion in 2011, and 2 billion to 3 billion cubic meters more than the pipeline's capacity beginning in 2012. This surplus gas is not a sufficient reason for building a new Caspian pipeline, especially since the three companies are expected to reduce production by 2017.

http://www.upi.com/International_Security/Energy/Analysis/2007/12/27/outside_view_nabucco_cut_by_caspian_line/3306/

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