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.

DGO may have spiked to 400 during the day, but clearly couldn't hold it ...... no great surprise there as that will take sp into new high ground ..... how stubborn that resistance proves to be remains to be seen

it was 570p last year.......next week at latest and sp will be well over piddly 400p

roll on 6.50

sp looks to be stalling at 400 yet again ..... not so good in such a strong market, though if that level is breached with impetus, then it my be chocks away

its SUPPRESSED BY ENOC AND DRAGON BOARD!!!

waken up cynic!

ft keeps on eporting on 4 quid so why is sp going higher.....it has been over 4 quid twice inter day i think but ended up lower.

None of the major institutions or small investors are going to sell for under a fiver.......so this share is in limbo while even crap companies go up up up.

apparently lots of phone calls etc have been made to dragon, irish takeover board etc but they all seem to be in the thing together.....oh ENOC are in same building as DRAGON.....hmmmm, says it al realy

oh and market has ben strong ALL SUMMER but dragon sp has been no higher than end of MAY!

sp will probably go back down again later on....or tomorrow.....or both!!!

oh goody goody ..... another conspiracy theory ..... fyi, the Dragon / ENOC complex in dubai covers several acres and about 8 buildings, but of course you wouldn't know that .....

fact of the matter is that sp has stalled 2/3/4 times at this 400 level, which was so predictable, that even i managed it .... however, the longer the resistance is sustained, the more potent it becomes .... conversely, if sp finally does manage (as and when is more likely) to breach this level with some conviction, then it could easily be like a champagne cork

Read somewhere that DGO were considering an acquistion,i was on my why out so
unable to follow it up.
cyril

Here's the snippet,make of it what you want?

Just heard that Dragon Oil is scoping to buy Central Asian assets in particular Kazakhstan and West Africa.
cyril

Cyril.. was your last job as an actor in "allo allo"... may be the french policeman??
i was on my WHY out, oil is SCOPING to buy, just wondering......

BB - that is really scraping the barrel!

lol. :))

are we in breakout territory now then cynic? what price it going to then?

i'm basing my investment on fundamentals for future and also market factors in political risk which will be de-risked as negotiations with europe, china etc with pipelines

i shall sit and watch, but have a yellow flag on this one ..... at this time, i still consider DGO to be one of my weaker ones to hold .... i am completely disinterested in what you choose to do either way or for whatever reason

LONDON (Reuters) - Dragon Oil (DGO.L) is to ask the Irish Takeover Panel to issue an ultimatum to the oil explorer's largest shareholder, Emirates National Oil Company (Enoc), to make a bid for the company or walk away, the Sunday Times said.
The newspaper said the group would request a "put up or shut up" ruling from the panel within the next 10 days if Enoc does not come forward with an offer.

Dubai state-owned Enoc said in June it was considering making an offer at a "modest premium" to secure control of Dragon Oil, in which it already owns 52 percent.

No one at Dragon Oil was immediately available to comment.

(Reporting by Kate Holton; Editing by Greg Mahlich)

lol.....the dragon board are a disgrace as they should have done this a long time ago and i know that they and stupid irish takeover panel in micael ryan have been in cahoots over this sworded affair.

modest premium to 338p is about 370p......400p tops......and ft keps on saying 400p bid.........but 410p on friday close....hmmm

so do i have to pay 10p to enoc for every share that i have, lol.........piss off enoc like i said before in posts unless you offer 8 quid plus

"sworded" as in fall on same?????????
sp is certainly struggling to stay above 400, but shall stay put at least for the time being, but certainly 8.00 is a total pipedream or at least so in my lifetime

do some research cynic.....alas this doesnt seem to be your strong point.
i didnt realise you intended to die in next few years.

merrill lynch, etc all have about 7 quid but thats on current circumstances.....not including increased work, wells drilled etc

why research? .....
what do you not understand that any commodity, from shares to houses or anything else is only worth as much as someone else is prepared to pay for it .....
if ENOC are only prepared to offer say 4.00 but the other shareholders don't want to sell at that price, then the status quo will remain .....
if someone else comes along and offers more, then ENOC effectively have the choice of accepting to sell out or blocking, or even raising their own offer if they so choose .....
what you or ML fondly imagine is the company's worth is not (currently) remotely borne out by reality,

merrill lynch were dragons brokers though and i believe were kicked out......that ells u something that dragon board and enoc were in cahoots......however after almost 4 months of waiting i believe authorities have told dragon to say something as sp stuck between 3-4 quid for eternity when oil price has been going up is getting beyond a joke.

from your ost above, that means sp will remain constant for eternity if enoc dont bid......and they can wait and wait

thing is oil price will be even higher next year so alas enoc time is running out

"conspiracy" is a load of crap!
madoff/SEC has more credibility, but even that is almost certainly just the grossest of incompetence, the perpetrators allowing themselves to be blinded by madoff's history + smoke/mirrors

however, you are right to say that ENOC can afford just to sit on their hands unless they get an overwhelming desire to buy the remaining 48% ..... but do remember, and it may well be relevant, that the dubai economy is currently in dire straits so ENOC (indirectly) may not have the wherewithal to raise their bid (much) above say 4.00 even if they want to

as for the price of oil in 2010, no one has any idea at all (i would hazard an average of no more than about $80.00), though in the long run it is indeed almost inevitable (a very dangerous word) that it will rise steadily ..... a weak $ will also push up the price of crude in theory, though not necessarily in real terms