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.

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

ok boss!!

perhaps rashly, bought back in at 378.25 on the basis of previous post and that bids look to outnumber offers by about 5:2 and have done for the last hour or so

Hang on... you sold at 370 and now bought back at 378.... makes me wonder what sort of dealer you are.....thats not what i call a profit

went short at 394 you dozo!
closed that at 370.75 etc etc

ok shorty

How low is the sp going?

all things considered, it has held up very well, which makes me wonder whether a 3rd party is stake-building

cynic currently heading towards 340p (50 day) where it was about a year ago.

are you sure you're looking at the right chart/stock?
by my reckoning, sp fell through 25+50 dma at about 410 so could arguably drop back to 200 dma at 330
a year ago, DGO was about 160

cynic you are quite right may have to revise downwards even more.

Not a stock I hold, but just for interest, broker note from Evolution 14.12.09:
"With the bid rejected and ENOC giving undertakings not to sell its stake for at least 24 months, Dragons share price will revert to a play on the oil price. Not feeling bullish on this, we believe that Dragons share price is likely to drift in the near term. There are positives though, such as putting the large cash balance (c.$1bn) to work or monetizing the gas resources. However, we believe acquisition DD has taken a back seat during the offer period and gas monetization is progressing slower than anticipated.
DETAILS Despite being recommended by the Independent Committee, ENOCs offer was accepted by only 48.9% by value of shareholders, below the 75% requirement for the bid to be binding.
VALUATION AND RECOMMENDATION In the short term, we see few catalysts for Dragons shares to reach the levels seen during the bid period. Therefore we switch our recommendation to Reduce. Our new target price of 350p is 12% below Dragons core value of 400p and 24% below the core + risked NAV of 459p."

Oil will start to rise again and most oil stocks sp's will take off.....and this time perhaps a lot sharper....patience....

sold mine yesterday at a minimal loss .... there are far better bets at the moment - e.g. PMO which now looks badly oversold (undervalued) to me, though I already have enough

cynic is this a 10% short?

down to 350? ..... possibly though it's quite brave in a recovering market .... however, i don't see a good reason to buy DGO either ..... one could even argue that notwithstanding the underlying NAV, south is almost certainly the direction for a good while yet, as there is an ultimate standoff with ENOC, especially now that Uncle AD has bailed out the naughty nephew

Why the share holders voted no?

oy weh!
because they felt (correctly) that ENOC was paying significantly under true underlying and prospective value

After hours rns.....another good flow to add to existing production.....watch the rise in the sp in early 2010...5 at some stage...next year !.

Ho ho ho....and what av ve got fur yoou ?.....a new year serious breakout that makes the big escape look like an amateur job !.