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.

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??

tough call, but if he is still on board, he is now running an 11p loss ...... a cautious man would suggest biting the bullet; indeed on reflection that would be the right call

Staying put...for the moment....what's 10p on a 400p stock....not much in percentage terms....but 55p more is a lot better !.

i think you may well be making a wrong call and would do better to bite the bullet.
as i read it, Uncle AD will be quite picky as to which projects he chooses to bail out, and i don't think this t/o will come high on the priority list.
after all, whether or not the t/o goes ahead does not affect at all the financial security of UAE in any respect.
i cannot see that ENOC will be able to raise the money elsewhere, even if at 455 DGO is seen as a snip.

have married money to mouth and shorted at 394
L2 shows 150k bid to 450k on offer

Cynic ? of all the shorts...with a takeover bid ?.....better to look at a possible ASC short or to go long in DES or something else...but this....good chance that there might be a rebound today....if the offer goes ahead : 60p premium at the moment...if it doesn't....so what ? : this company is worth 600p in my view... long term...

i already hold DES ..... i have already commented on ASC (see thread) ..... if the t/o is pulled, which to my mind is now the more likely outcome, then there will be a very sharp reversal regardless of the potential long term prospects

If it isn't : then you will lose money...big risk....

If you hold shares in TD Waterhouse, you can still vote but you should call TDW and vote on the phone.

TDW has to manually enter your vote as their online system is not linked to stocks in Ireland.

Call TDW to vote if you have an account with them.

Not sure now as to which way to vote ?.....might just abstain.

not a big risk as have stop at 420

suddenly looking rather a good call of mine as sp dumps 30+ ..... nothing on reuters yet, but a lot of institutional activity, though it is unclear from those notices whether they are buys or sells

there is now ..... t/o fails

11 Dec 2009 - 14:43
LONDON, Dec 11 (Reuters) - Dragon Oil PLC : * offer from emirates national oil co not passed by requisite majority * Resolution was passed by in excess of 50% of shareholders, not also passed by 75% as required * The acquisition will not take place * London shares drop 7 percent

profit taken at 370.75 .... missed a few pennies but care not.
now to work out at what level and when, if at all, one should buy back in

and your prediction now is...... wait and buy or stay out?

you beat me to it...lol

ROTFL!
think about this, but do nothing for the moment ......
a week or so ago, ENOC said they would not consider selling until end (i think) 2011.
de facto, they admit they were in it for a relatively short ride and profit anyway.

dubai is bankrupt, and bankrolled to stay afloat by abu dhabi
ad have already said they may force the sale of certain dubai assets.
initial focus was on the likes of nakheel (property) and perhaps even JAFZ (free zone + ind park)

however, it might be argued that ad would not be averse to bolstering its own oil reserves by forcing a sale of ENOC with ad itself being the buyer - at arm's length of course!!

massive volume today >18m, but as sp now pretty solid at +/-378, implication is that spare stock is being hoovered up

ok boss!!