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.

Perhaps a little vertical rise coming ?.....the graph points to it !.

yes this one looks to be on another breakout.....good long term hold this one

New report and analysis, click HERE

DGO is weakening... sell at 400p

why is s.p. weakening,is the sheik dragging the s.p. to the floor,dropping everyday

is any one there,are u all gone to the pub,sell at 10 pound.

is any one about,is this going up or what,dont sell,buy,this will go to 10 pound

why? .... personally i think it's run its course for a good while yet; in fact, with sp nudging just below 200 dma, prob a better sell even if only on technicalities

are we on a good thing here

Output is up 25% during the first three months. more cash $1.2+ bln debt free.

How much does this company worth?

Dragon Oil notes the recent movement in Bowleven's share price and confirms that it is in the preliminary stages of exploring a possible offer for all of the issued and to be issued share capital of Bowleven.
This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.7 of the City Code on Takeovers and Mergers (the "Code"). Accordingly, Dragon Oil would like to emphasise that there can be no certainty that any offer will ultimately be made or the terms or timing on which any such offer would be made.

At long last they have decided to use some of their cashpile....

Quite a spike.

Dragon Oil pondering offer for Bowleven
StockMarketWire.com
Turkmenistan-based oil firm Dragon Oil (LON:DGO) notes the recent movement in Bowleven's (LON:BLVN) share price and confirms that it is in the preliminary stages of exploring a possible offer for all of the issued and to be issued share capital of Bowleven.

At 11:49am:
(LON:BLVN) BowLeven share price was +35.88p at 109.88p
(LON:DGO) Dragon Oil share price was -12.25p at 531.75p

StockMarketWire.com
Dragon Oil has ended its interest in Bowleven.
Dragon said that it was no longer exploring an offer for Bowleven.

The result released today is great. 1.66bln in the bank and making money on daily basis.

Key corporate highlights

-- A consortium of companies, including Dragon Oil, has been awarded an exploration, development and production contract for Block 9 in Iraq's fourth bidding round;

-- US$200 million share buyback programme commenced in June 2012 to purchase up to a maximum of 5% of the issued share capital of the Company, with approx. 11.5 million shares bought back.

Key financial highlights

-- Capital expenditure on infrastructure and drilling amounted to US$208 million for 1H 2012 (1H 2011: US$151 million);

-- Group's cash balance (net of abandonment and decommissioning funds) as at 30 June 2012 was US$1,667 million (31 December 2011: US$1,527 million).

Any idea why this has fallen?
I was expecting a decent rise!

worth a punt IMO

Dragon Oil's latest well caps a busy year for the ambitious producer
2:03 pm by Ian LyallThe latest Dragon well caps a busy year.



Dragon Oil (LON:DGO) has restated its production guidance for the year after the successful completion and testing of its latest well in the Caspian Sea.

A/177 on the Dzheitune (Lam) Field flowed at an initial 1,796 barrels of oil a day having been completed as a single producer to a depth of just over 3,000 metres.

This is Dragon’s 15th well of the year and completes an intensive drilling programme that targeted 13-15 wells.

Abdul Jaleel Al Khalifa, the company’s chief executive, said: "We have been producing at well above 70,000 barrels of oil per day since mid-August and we firmly re-iterate our production growth guidance of 10% for 2012."

Production is expected to grow between 10-15% each year in the period between 2012 and 2015, which will take output to 100,000 barrels per day during 2015.

Dragon says it aims to maintain this peak production for five years from 2016 onwards.

Dragon Oil’s output ends 2012 on a high
8:28 am by Jamie AshcroftThis morning it said that average production for the whole year was 67,600 barrels of oil per day, and by December the rate peaked at 73,500 bopd.



Dragon Oil (LON:DGO) this morning revealed that its operations in the Caspian Sea ended 2012 on a high.

Over the course of the year the company had to overcome operational challenges, mainly constrained production due to sand control issues in the wells, but it was still able to mark a 10% increase in daily production.

This morning it said that average production for the whole year was 67,600 barrels of oil per day (versus 61,500 bopd in 2011), but by December the rate peaked at 73,500 bopd.

The improvement is a result of Dragon’s extensive drill programme, which continues this year. In 2012 it drilled fifteen wells.

The drilling also led to a significant uplift in reserves - with 180% reserves replacement in the year -as it ended the year with 677mln barrels of oil and condensate reserves.

Dragon’s capex bill wasUS$382mln for the year and it ended 2012 with US$1.7bn in cash.

"Every year brings new challenges. In 2012, it was the sand control issues that we had to handle on an immediate basis,” said chief executive Dr Abdul Jaleel Al Khalifa.

“However, having mobilised all the necessary resources, procured and installed the required sand screens, we were able to restore production to normal levels and achieve a credible 10% increase in the average gross production.

“We have learnt from this experience. It is a success story for us to have been able to deal with the problem and to grow production beyond that impact.

Dragon also expanded its asset portfolio in 2012 with the addition of exploration projects in Iraq and Afghanistan.

With the group’s continued expansion it expects to increase production again in 2013, by an estimated 10-15%, based on plans to drill a further 13-15 wells this year.

But over the course of the next three years it plans to drill up to 55 wells. As a result it aims to establish total production of around 100,000 bopd by 2015, and then maintain this level of output for at least five years.