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.

wish i had had the balls to short this .... never mind, but risk/reward is now not worth it

If the rebels succeed the sp might rocket because you could take the view that the company is undervalued which it is by a mile !,.....then come back in 6 months and it will be 6 plus at least.....the board have a damn cheek recommending such a low price, it's taken ages for an offer to come through....only for it to be paltry !.

first of all sp will crash, maybe as low as 300, at which point one should definitely pile in

Followed by a very strong recovery .....now where's my "tardis"...?.(Doctor Who)...

I've taken a risk and jumped back into this.....(gulp !)....at the moment this is a long way down from the bid....if there is a bid 455p...thank you....if not then shareholders think this is worth a lot more which it is of course....so why not...might drop at first but it will go miles higher very shortly after...with patience I might come out with another profit....can't believe I'm back in the Dragon again !.

Do you not feel cynics comment above a better option and wait to hit bottom?

10% shy of the bid ...... not bad logic for a small punt, but sp may be a bit more nervous a few days ahead of the final count ..... any idea when that will be?

My crystal balls are temporarily suspended.......

I probably will not be watching if there is a sudden drop followed by a strong recovery....just can't watch the sp's all the time....

my pc is on the whole time at the office, which is (a) why i can watch prices throughout the day and (b) can annoy everyone here all day!


BB - beware the man wielding the croquet mallet

I shall vote against the company being taken over.....that's if I have a vote....long live the small shareholder...to the castle at once ....peasants et all...long live the revolution !.....I'm not a dictator....nein...nein...euhhh went a bit off track there...

Up at the end of the day....so we shall see what happens next ....

RF - don't get greedy ...... if sp moves up smartly to say 435/440, the grab the profit and wait .... at 440/445 it's even worth shorting, as the downside is then effectively only 10p especially if you pt in a limit (down, obviously), and despite the squawking, the odds of the deal not going through are 455 at pretty slim.

cynic, it clearly worth more than 6. the problem is that none has confidence to get approvals by shareholders to buy this.

worth is only what someone will pay .... if the bid is blocked, then MAYBE, some time after the initial slump, you will see sp higher than the 455 bid ..... however, the odds of the bid being blocked are anorexically slim

In that case it's still just about at the right price to buy and wait for 455p....

it's a valid view, though i still hold with my post 783, and with sp now back to 422 i don't think i'ld be too eager to jump in ..... you had been a crafty chappy such as yourself and had bought at 410'ish, then i'ld certainly continue to hold at this juncture

413p.

with ENOC being owned by dubai gov't, this whole t/o is assuredly now thrown into doubt ...... worth watching it all unfold or even unravel, but though i shall do neither, i would be more inclined to short than to buy

time rf jumped ship??