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.

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 perhaps the potential bid has been withdrawn or may just be weak holders being forced out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

The fall is going to be very steep.

i think they already suggested 370-400

cynic haven't seen RNS with any offer yet?

i don't think the offer was formal ..... it was from memory when the potential offer was said to be at a small premium to sp pertaining on date x

RNS dated 4th june merely states that the Board had received an approach in relation to a possible offer, the approach is of a preliminary nature and no certainty any offer will be made or as to the terms of any such should one be forthcoming.
RNS of 9th june states the Board had formed an independent committee to evaluate the approach by ENOC in relation to a possible offer.
Nowhere is a possible amount mentioned.
We hope the minority shareholders don't get screwed.

i thought ENOC (or DGO) mentioned the modest premium ..... i know i did not make it up

as for getting screwed, it's a subjective opinion as to what 48% of the company might be worth

Probably press speculation.
Merrill Lynch International are advising the Board on a possible offer........wow!

at least it's neither Lehman nor Madoff