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Dragon Oil - 2006 (DGO)     

dai oldenrich - 03 Oct 2006 10:11

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.

Chart.aspx?Provider=EODIntra&Code=dgo&Si
            Red = 25 day moving average.           Green = 200 day moving average.

halifax - 14 Jul 2009 16:00 - 602 of 903

cynic that's what worries us with the oil price falling and political tensions in the region beginning to "bubble" again.Minority shareholders are pretty defenceless in these sort of situations, institutional investors may "save the day".

cynic - 14 Jul 2009 16:05 - 603 of 903

there's only one institutional investor to worry about, and that's ENOC ...... while ENOC are under no obligation to offer what they regard as silly money, the directors and other shareholders are under no obligation to accept what may or may not be put on the table

halifax - 14 Jul 2009 17:19 - 604 of 903

ENOC has already formulated its stategy otherwise it would not be trying to buy out minority shareholders, they may well be looking to sell the whole business in due course.

cynic - 14 Jul 2009 17:40 - 605 of 903

hard to know, but there will be strong cultural affinity between dubai and turkmenistan, the latter being notoriously xenophobic

Andy - 16 Jul 2009 09:24 - 606 of 903

new article, click HERE

niceonecyril - 21 Jul 2009 07:56 - 607 of 903

Extract from yadrts operational update.

Preliminary approach

On 4 June 2009, we announced that the Company had been approached by Emirates National Oil Company Limited (ENOC) L.L.C. ('ENOC') in relation to a possible offer for the entire issued and to be issued share capital of the Company it does not currently own (the 'Approach'). The Company formed an Independent Committee of the Board to evaluate an offer should one be forthcoming. The Approach is of a preliminary nature and there can be no certainty that any offer will be made or as to the terms of any such offer. A further announcement will be made as appropriate.
cyril



niceonecyril - 21 Jul 2009 08:01 - 608 of 903

And the whole article.
http://www.investegate.co.uk/Article.aspx?id=200907210700139781V
cyril

marni - 21 Jul 2009 09:25 - 609 of 903

stopped restructuring..........but no guarantee of offer.

dreadful! this company stinks and shoulf be investigated by the woeful FSA......in other words, do nothing

cynic - 21 Jul 2009 14:55 - 610 of 903

why?

niceonecyril - 21 Jul 2009 15:13 - 611 of 903

Not representing the best interest of "al"l holders,by cancelling the LSE listingso much easier(90%required) to achieve on the ISE. ThatS the view of a very knowledgable investor, who feels they have left themselves open to legal action?
cyril

cynic - 21 Jul 2009 15:24 - 612 of 903

i am obviously being very dense ..... are DGO delisting from London/Ireland? ..... on the t/o front, obviously no news means exactly that

niceonecyril - 21 Jul 2009 18:42 - 613 of 903

Here's the passage whuch covers the issue.

Corporate restructuring

On 27 March 2009, the Board of Dragon Oil plc announced the proposed restructuring of the Company by means of a scheme of arrangement by putting in place a Bermuda-incorporated company as the new ultimate holding company of the Group. Following the restructuring, the Company was planning to apply for a primary listing on the London Stock Exchange and a secondary listing on the Irish Stock Exchange. In light of the approach received from ENOC, the corporate restructuring has been put on hold.
cyril




cynic - 21 Jul 2009 19:13 - 614 of 903

and so?
doesn't sound anything especially untoward to me ..... many companies have their h/q off-shore

niceonecyril - 21 Jul 2009 21:57 - 615 of 903

Ambrian have raised there price target on Dragon to 424p

LONDON (Dow Jones)--Small oil producer Dragon Oil PLC (DGO) Tuesday said its first-half oil production fell short of its expectations, sending its shares lower.

In an operations review, the company said its crude output averaged about 42,800 barrels a day in the first half of 2009. That was up about 11% versus the year-ago period but below Dragon's original expectations due to changes in its drilling program and operational issues.

Dragon said it had formed a committee to evaluate a takeover offer from Emirates National Oil Co. "should one be forthcoming" and reiterated that Emirates' approach was still in the early stages. Emirates already owns about 52% of Dragon.

Dragon, with operations focused in Turkmenistan and Yemen, disclosed June 4 that it was approached with a possible offer for the company.

Some analysts are still upbeat about Dragon's prospects going forward, citing the company's commitment to stick to a target of achieving up to 15% growth in annual crude production from 2009-2011 and Dragon's healthy cash position.

Ambrian analyst Werner Riding retained his "buy" recommendation on Dragon and raised his price target on the company's stock to 424 pence from 377 pence. Dragon shares traded Tuesday down about 2% at 318.75 pence at around 0830 GMT on the London Stock Exchange.

http://online.wsj.com/article/BT-CO-20090721-702882.html
cyril

niceonecyril - 21 Jul 2009 22:03 - 616 of 903

The point being if they listed on the LSE it would require 90% to achieve a takeover. By not doing so they have "not" looked after the interests of the pi, therefore failing in their duty to them.
cyril

cynic - 22 Jul 2009 07:49 - 617 of 903

DGO have NOT delisted from LSE .... as far as i can see, they have just decided not to go down the route that would (might) take them there, which is scarcely scurrilous ..... indeed, as they say, it's a pretty pointless exercise anyway when they are already in discussions with ENOC ...... frankly, i shall be more than happy just to have made a decent profit - which is of course the whole point of buying and selling shares

niceonecyril - 22 Jul 2009 11:20 - 618 of 903

Well check out CHL,independent reserve update this week, promised?
You need to be quick,expecting 10%+?
aimho
cyril

niceonecyril - 29 Jul 2009 23:43 - 619 of 903

Surprised this was missed,another well to tested shortly too.

Drilling Update


Dzheitune (Lam) 28/136 well on production with an initial combined tested rate
of 3,291 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) 28/136 development well that was drilled to a
depth of 3,075 metres. Initial testing of the long and short strings resulted in
production rates of 1,841 bopd and 1,450 bopd, respectively, with further
testing and optimisation scheduled to take place over the coming weeks. The
Dzheitune (Lam) 28/136 development well is the third well to be completed from
the refurbished Dzheitune (Lam) 28 platform.


The Iran Khazar jack-up rig has now skidded to slot 1 on Platform 28 where it
has spudded the Dzheitune (Lam) 28/137 development well.


The platform-based Rig 40 is completing the Dzheitune (Lam) 13/135 development
well with testing expected to be finalized within the next few days.


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


"I am pleased to report that the Dzheitune (Lam) 28/136 development well was
completed successfully and on schedule. We are due to announce the test results
of the development well Dzheitune (Lam) 13/135 shortly. We remain committed to
ensuring good progress of the drilling programme to meet our annual production
growth targets for 2009-2011."


- end -
cyril

required field - 12 Aug 2009 09:49 - 620 of 903

The dragon izzz creeping upp !.

marni - 12 Aug 2009 10:21 - 621 of 903

not in last 3 months it aint......in fact its fallen from 4 quid
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