HI/ All
Iam a newby to this bb, i wen't back about 4 pages looking to see if there was a Dragon Oil thread, didn't see it perhaps i didn't go back far eneough.Any one any views on how far the sp might go with this one, with the talk about China and Lukeoil looking to buy up all the oil shares they can, imho i think this one could do very well, have held 4 years now so i would get a good return , but i think if i hang on i will get an even better one, any views anyone?
cheers

It's like a dead body. No attention!1 Why?

http://moneyam.uk-wire.com/cgi-bin/articles/200605110758427946C.html

Dragon Oil PLC
11 May 2006


PRESS RELEASE

DRAGON OIL plc
('Dragon' or the 'Company')



SIGNING OF CONTRACT FOR JACK-UP DRILLING RIG


Dragon announces that it has signed a contract with Lukoil Shelf Limited
('Lukoil') for provision of the Astra jack-up drilling rig ('Astra') for use in
the Cheleken Contract Area offshore Turkmenistan.


The Astra is expected to commence drilling operations for Dragon in the Cheleken
Contract Area from early September 2006 and the initial contract duration will
be six months.


Dragon plans for the Astra to drill one development well in the LAM field and
one exploration well (which may have an optional sidetrack) in a near-field
prospect known as LAM West. This near-field prospect of LAM West has been
identified from data acquired and processed from the recent Marine 3D Seismic
Survey carried out over the entire Cheleken Contract Area.


Engineering works are in progress to support the planned well activities for the
additional Astra rig. These engineering works include the installation of
additional drilling slots on two existing platforms and the future installation
of topside facilities and sub-sea pipelines.


Hussain M. Sultan, Chairman of Dragon commented:

'I am very pleased that we have secured the Astra from Lukoil Shelf Limited. Our
field development plan, utilising the services of a second drilling rig, will
enable Dragon to fully explore, appraise and develop the Cheleken Contract Area.
We view the signing of the contract for the Astra, albeit for six months, as an
important milestone in our continued growth.


The identification of the near-field prospect of LAM West from the results of
the Marine 3D Seismic Survey shows us just how important the Marine 3D Seismic
Survey was to our planned filed development. '


Ends


Citigate Dewe Rogerson (+44 20 7638 9571)

Analyst enquiries: Nina Soon

Media enquiries: Martin Jackson / George Cazenove


Dated 11th May 2006



This information is provided by RNS
The company news service from the London Stock Exchange