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.

"These individuals appear to have obtained financial benefits for themselves by securing improper payments from certain contractors.

shock, horror! .... who would ever imagine that such things would go on in "bandit land"!? ...... not the sort of thing that would ever happen in US or Europe or Far East or Arabian Gulf ...... silly boys were obviously not sufficiently discreet!!

on a more serious note, i think the numbers and prospects are likely to be very encouraging and am very happy to be holding a fairly modest number

and have just added

Your telling porky's cynic, what you mean is you've shorted it.

you'll get a good thrashing when i get you home!

here's your numbers, which i would have thought to be pretty handsome, though i have no idea what was expected .....

Key Financial Highlights for 2008
2008
2007
Change

(US$ millions, unless stated)
Revenue
706
597
18%

Operating Profit
474
365
30%

Profit for the year
369
304
21%

Basic EPS (US cents)
71.8
59.5
21%

Cash balance
876
549
60%

Debt
0.0
0.0
nil

Growing Production
Gross field production from the Cheleken Contract Area increased by 28% to 15 million barrels of oil
Average daily rate of production reached 40,992 bopd compared to 31,997 bopd in 2007
Exit production of 45,600 bopd achieved at the end of 2008 (2007: 40,048 bopd)
Nine development wells completed during 2008 compared to seven in 2007
The Group's Rig 40 spud its first well in January 2009

Positive Outlook for 2009-11
Complete up to 35 development wells including eight wells to be completed in 2009
Target annual production growth of up to 15% on average in 2009-11
Capital expenditure for infrastructure in 2009-11 estimated at US$700-800 million including US$300 million allocated for 2009 projects
The amount of capital expenditure for drilling is mainly determined by the number of wells drilled which in turn is subject to the availability of rigs in the Caspian Sea region
Accelerate commercialisation of the gas resources
Pursue the diversification of asset base with focus maintained on quality

market clearly likes the figures quite a lot ...... will enthusiasm be sufficient to see 200 dma at 212 breached decisively?

One hell of a producer this one, topped up the other day !, the only cloud on the horizon is the Iranian question......but with the new American administration there must be a lot of talking between governments coming, so perhaps not quite such a threat of any disruption to this company as there was always the worry of an American backlash with the Bush era !.

relative to iraq, iran is a haven of peace ..... am quite happy to trade there (iran), always provided the contract and payment is made from outside the country!

Moving to London is strategic..

Do i detect a possible golden cross?
cyril

Do i detect a possible golden cross?
cyril

dodgey digit again cyril

golden cross? .... well i guess we're coming up to easter, so quite possibly

Well I'm out for now gl everone.

sold this morning for a nice profit ..... that's called making, mitzy, as opposed to just showing - lol!

Are we going to Bermuda soon,any views on our future plans.

XTR are presenting in London soon!

Details and FREE registration can be found here;

For FREE registration, CLICK HERE

These are superb evenings in a lovely hotel in the heart of Mayfair!

Mix with other investors, market professionals, and the CEO's of the presenting companies for complimentary wine and canapes afterwards!

Nearest tubes are Green Park and Bond Street.

turkmenistan meeting with europeans.......to free itself away from russia......should help share price in future

shows how little you know about Turkmenistan

what you talking about......meeting is in prague i think this week.....its reported in media