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.

marni, marni, marni ..... Rule #1 - an asset is worth only as much as someone else is prepared to pay for it ...... Rule #100 - an asset is worth only as much as someone else is prepared to pay for it

important RNS just out - see Newswatch

An indenpendent committee has been set up.

The Independent Committee accept s responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Independent Committee (who have taken all reasonable care to ensure such is the case) the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Davy Corporate Finance, which is regulated in Ireland by the Financial Regulator, is acting for the Company and no-one else in relation to the Approach and will not be responsible to anyone other than the Company for providing advice in relation to the Approach.

Merrill Lynch International, which is regulated in the UK by the FSA , is acting for the Company and no-one else in relation to the Approach and will not be responsible to anyone other than the Company for providing advice in relation to the Approach.

cyril

Well DGO on sale below 350p,almost risk free to the offer(338p+),market conditions undoubtably to blame, but what a bargain?
cyril

hmm, but why?

Go on
"do tell us"?
cyril

Is the takeover still on?

Was hoping to draw our one liner.
Wondered if the row with the UK might have something to do with it?
cyril

cyril over the weekend a top US General said the US has to "deal" with IRAN he did not elaborate further, of course this could mean Obama's overtures of reconcilliation may encourage the Iranians to be more pragmatic. However military leaders like to talk from strength and with the US having an army of over100,000 men in Iraq and up to 60,000 men in Afghanistan the Ayottallahs must be getting a little twitchy.

the ayatollahs are probably even more twitchy about the severe civic unrest that is bubbling just below the surface, though there is probably a link between the two

The steep cliff is forming at DGO. Looks like a good short but I'm out of cash at the mo.

Now 327p.

You did very well to sell at 400p, cynic.

i would have done better still not to have bought a portion back at 360!

Oh sorry to hear that. Good luck, cynic.

better than having held on at 400 - lol!

A brave person to short these now,naybe at 4? Since the offer of 338p+ a
modest premium on the 5th June, they will have produced something approaching 1.5mbu,with poo in the region of $65/70 a gross figure of $100m will shortly be passed.
Not sure what games are being played but i'm hanging on to mine until i can find out,all in all it should be a racing cert but these are funny times.
cyril

is this a potential cup and handle with a spot the difference? or not? as always dyor.
regards
jkd

DGO has further tumbled today. 310p

DGO has further tumbled today. 310p

very dull ..... perhaps the potential bid has been withdrawn or may just be weak holders being forced out

How much do you think the majority shareholders would be prepared to pay to mop up the minority interest?