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.

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

they may well be ...... but Turkmenistan is even more xenophobic than was albania ..... if you wonder why DGO is about 50% owned by the dubai gov't, it's because they have a similar cultural background (muslim) to the Turkmen.

have a think as to why T'stan, which sits on some of the largest oil and gas deposits in the world, is totally(?) unexploited - in the nicest sense of the word.

i must do some more research.this is from memory, a pull back to the neck line? maybe its already happened maybe not. just going to have a look now.
regards
jkd

Drilling Update




Dzheitune (Lam) 13/133A well on production with an initial combined tested rate of 2,628

barrels of oil per day ('bopd')




Dragon Oil plc (Ticker: DGO), an international oil and gas exploration and production company, today announces the successful completion and initial testing of the Dzheitune (Lam) 13/133A development well. The reached depth was 2,975 metres. Testing of the long and short strings resulted in production rates of 1,488 bopd and 1,140 bopd, respectively, with further testing and optimisation scheduled to take place.




The Dzheitune (Lam) 13/133A development well is the first well to be completed using Dragon Oil's own platform-based drilling rig, Rig 40, following its refurbishment and upgrade. Since completing the Dzheitune (Lam) 13/133A well, Rig 40 has skidded to slot three on the Dzheitune (Lam) 13 platform and has spud the Dzheitune (Lam) 13/135 development well.




In addition, the Iran Khazar jack-up rig is currently on course to complete initial testing of the development well Dzheitune (Lam) 28/134 by the end of May 2009.




Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented:




'I am pleased to announce the successful completion and initial testing of the Dzheitune (Lam) 13/133A development well using Dragon Oil's own Rig 40. Efforts to secure an additional land rig are ongoing, the drilling programme is progressing well and we are confident of achieving our target to complete eight wells by the end of 2009.'
cyril

In addition, the Iran Khazar jack-up rig is currently on course to complete
initial testing of the development well Dzheitune (Lam) 28/134 by the end of May
2009.

So just 9 days to go for results from 134, if all goes well,probably 1st June which gives 4 days trading at most?

cyril