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.

just cashed in 40% at 405 for a very tasty profit indeed ...... shall now watch and wait, as for sure the sp will whizz around all over the place

just when dragon is starting to go higher.........someone wants these cheap.......in long term these will go to 10 quid

so what? .... that's like saying RKH will be worth a fortune if you live long enough, so buy now

no, dgo are producing and will increase production.....also europe will be using gas soon instead of via russia.....big implications and good news for dgo

in 2 years i would say up to 12 pounds

i dont mind waiting 2 years unlike you. you are always in a rush buying and selling

i knew a guy bragging doubling hos money in a month but only 3k, turned out company went up 24 times! he said 3 years later its most stupid thing he ever did selling it...........why sell a great asset when its severely undervalued

thats like selling ronaldo for 200,000

hindsight is great but very selective .... how many times have you been too greedy and watched a healthy profit turn into a thumping loss? .... never ever forget that you can't go broke banking a profit

only once a healthy profilt going to break even......i've bought plenty that just tank, lol.

as i say, i've done better by holding shares over a few years

The thing is with playing the stockmarket is that in your mind ; you must have a plan short term or long term....playing it short term is fine but you have to have the time to watch the markets all the time or adopt a longer term view...I mix the two together depending on the kind of stock....anyway coming back to DGO....like Cynic says : is this the opposite number to HOIL ?.....loads of action at the moment with one or the other at the moment !.

the trouble with modern world is everyone expects lots of money NOW!! it doesnt happen like that unless u r very lucky. warren buffett says if you make 18% a year then you are doing very well.........never mind, he is only the most successful person ever on the stock market........and he aint on this website!!

seen on advfn predictions of between 7 to 8 quid.........still too cheap IMHO.

read on another site today that someone lost 15k as he sold his shares too early as they had risen somewhat, lol. the muppet probably sold for about 2k profit or something pathetic

i meant he sold shares and made a small profit but if he held now he would have additional 15k

as for me, in this instance, you will note i banked a very healthy profit on 40% of holding and remain with the balance ...... anyway, all rather irrelevant.

latest RNS shows that the potential bidder is ENOC who already holds 52% ..... it is currently considering an offer price that would represent a modest premium to Dragon Oil plc's closing share price as of 3 June 2009 (i.e. 340) ...... the logic for ENOC is that Dubai has no oil of its own.

so, while ENOC is obviously not showing its true hand at the moment, a fancy price of 8/10 is unlikely to be on the cards ...... there will also be a time element which will give sp a discount to any (accepted) offer .... on the other hand, any deal struck should be completed within minimum time and fuss as due diligence should be pretty cursory.

as a guide to a possible bid price, the all time high of 550 was hit last year ...... and don't forget, ENOC does not have to buy out the balance of the shares and can also thwart any outsider

by the way, my sale at 405 does not currently look so dumb, does it!

No, but it might be time to buy back and make another buck !.

thought about it, but shall sit on my hands for the moment .... would certainly buy at 350

Bid has to be above 4.5 to go through.

ENOC have no need to pay more than they choose ..... it's a closed shop, and ENOC will quite happily walk away if, as far as they are concerned, the price demanded is too high

Theirs trading and theirs investing, how one chooses is personal.

I recently sold out Hawk for a 20%(30/36p) profit which was a little less than i had expected, but as it was for a short term gain i was happy,although it's now a lot higher it was never part of my investment portfolio.

As far as DGO is concerned, approx 335p was the 3rd June closing SP,so whats a modest return in these cercumstances,25% makes roughly 420P?

As ENOC know DGO (being 52% owners),why would they issue such a statement,
again their knowledge of this company is second to none.so just make an offer?

I believe its to flush out short termers and the weak before uping their offer.

I see little risk hanging on, but a possible 50%+(450p) upside. So for me i will hold and see how it pans out.

370p would be a snip in the corcumstances and should be snapped up?
aimho
cyril

It all depends on what you think is "a modest return" on a closing price of 338p.
25% would seem more than modest to me, particularly as ENOC are in command here.
Risky play at 370/380p imo.