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.

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

Richard, I really don't understand why you bother to debate with the irrational posters on this board? I imagine it is for your own amusement?

hi peter .... are you still in UK or are you about to go on your travels again? .... i shall certainly be in Abu Dhabi in mid November if that fits your plans

a bit slow to react, but am now out with a respectable profit ...... 8.00+ = in your dreams or God's ear, though i would very much doubt His interest in promoting one of the 7 deadly sins

its down to make way for enoc supposed small premium bid......and i doubt they have much cash for a bid.
4 or thereabouts will be rejected by most of 48% including institutions.
if they offer 5 quid they might stand a chance but not when sp was 410p on friday at close.

profit.....lol.....20 quid again

i've made a fortune by holding shares this year, some of which have gone up 700%.

and at least one other to which you have owned up that you have held for 5 years that is only now coming back towards break even.

for myself, though i have arguably got out too early/late, for it depends on how one views it - but if sp falls back to +/-350 may well get back in again as i did before - i have at least banked a very useful profit, which is far preferable to watching it all dribble away

err, i bought these twice at under 2 quid so i dont bother with off days in sp, the trend is up as thats all u need to know.

you bang on about profits but u r hardly the last of the big spenders....i'm sure the market rocks when u buy or sell, lol.

as for pci, its nice to see i'm in profit on it but i only had a small amount on it and not really too bothered....as i say its nice to see it back at a reasonable sp though

there is a game going on at dgo and only the few know it imho.

all the best anyway whatever u do

err .... does the market care twopence about any of us?

unfortunately the market doesnt care about the PI full stop.........its corrupt.....just look at banks, oil companies and other major companies, most are corrupt as they even involved with political parties these days.....also people at top of companies get too involved with prime ministers etc.

these people should be executed

for f's sake!!! ...... if you think it's so corrupt, why the hell are you so dumb as to be playing? ..... i know i often talk a load of shit, but by golly, you are surely a "summa cum laude" pupil of that school!

lol

Marni, it's just like bating a hook and realing him in for you isn't it. lol

don't care! (sulk, sulk)

I suppose the question is what of the SP if the bid falters??
cyril

thats when we tell enoc to sod off and sp goes up up up.......yay

let the chinese have it, lets steal enoc share certificates and give it to the chinese

oops i meant borrow......hey, i almost became a shorter, lol

stalemate here and even more obvious now.....barely 100,000 traded as i type this

jes, this could go on for next 5 years.....er oil price will be massive by then though

Copied from iii CNOOC appear to be interested in Astrakhanskiy

08-Oct-09
14:04
CNOOC holds talks with Dragon Oil and Max
Petroleum over Caspian acquisition; adviser
proposals welcome, source says
Story China National Offshore Oil Corporation (CNOOC), the
listed Chinese oil major, has held early-stage discussions
with Max Petroleum and Dragon Oil to acquire a Caspian
oil and gas asset, according to a CNOOC company
source.
CNOOC is striving to acquire an upstream offshore oil
and gas asset in the Caspian region with roughly 100
million barrels of reserves, the source said. Dragon Oil,
the Turkmenistan-focused, dual-listed oil and gas
producer, and Max Petroleum, the AIM-listed oil and gas
company, both have assets in the area.
CNOOC does not have a local financial adviser in place
and would be welcome to approaches, the source said.
"We have the funds available," said the source. "And we
would be happy with a minority stake of 20% to 25%."
The source explained that CNOOC has been in talks with
both the Kazakstani government and domestic energy
giant KazMunayGas in the past.
This news service reported this week that Max Petroleum
plans to spin off Astrakhanskiy LLP, an upstream oil and
gas field in Kazakhstan, for USD 50m to USD 100m and
has had interest from six companies, including GDF Suez
and KazmunayGas.
The source said that CNOOC is keen to push ahead with
an acquisition in the Caspian after some of its domestic
competitors continued to make progress in the region.
Dragon Oil and Max Petroleum did not comment by the
time of publication.

By Rob Hartley
Source dealReporter

cyril

8th was thursday, yet on friday sp did nowt, implying that at least at present there is nothing to support this story