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.

sp has been ticking gently northwards for a little while (see chart at the top), and is now right on the all-time high ...... pullback or straight through? ..... likelihood is the former, but i'm happy enough just to sit tight even if it does

Straight through I hope - As of Mar 22, 2013, the consensus forecast amongst 14 polled investment analysts covering Dragon Oil plc advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Jul 24, 2012. The previous consensus forecast advised investors to purchase equity in Dragon Oil plc.

Annual Report and Accounts 2012

http://www.rns-pdf.londonstockexchange.com/rns/9322A_-2013-3-26.pdf

Ex dividend 3 April 12.8p payment 3 May

Dragon Oil unveils increase in output
Tue 02 Apr 2013


Dragon Oil unveils increase in output LONDON (SHARECAST) - Dragon Oil on Tuesday announced an increase in production in the first quarter as it completed wells at the Dzheitune (Lam) prospect, offshore Turkmenistan.

Production for three months to March 31st 2013, averaged 71,800 barrels of oil per day (bopd), up from 70,600 for the same period a year earlier.

Average production for March was 74,000 bopd compared to 72,000 bopd the previous year.

During the period, the company completed the Dzheitune (Lam) 28/178 and 28/179 wells which tested for initial production rates of 1,653 bopd and 1,975 bopd respectively.

The first well is currently stabilised and producing at a rate of 2,065 bopd while the latter is producing at a rate of 2,218 bopd.

Shares rose 1.54% to 660p at 12:00 Tuesday.

They are just printing cash.

£8 my 6m target

Interim Management Statement

Key highlights

· The average gross production rate in 1Q 2013 was approximately 71,800 barrels of oil per day ("bopd");

· March average gross production was approximately 74,000 bopd with the month's exit rate at about 76,400 bopd;

· Two new development wells were put into production during the first quarter of 2013;

· Installation of the Dzhygaybeg (Zhdanov) A platform is in progress;

· Tendering process for the construction of the Gas Treatment Plant has commenced;

· Capital expenditure on infrastructure and drilling was approximately US$57 million in 1Q 2013;

· The Group reached an agreement to secure a reliable marketing route for all its anticipated export entitlement production from the Cheleken Contract Area until 31 December 2014; and

· The drilling of the Hammamet West-3 exploration well commenced in early April 2013 offshore Tunisia in the Bargou Exploration Permit.




http://www.moneyam.com/action/news/showArticle?id=4579515

Dragon Oil cranking it up
By John Harrington April 23 2013, 8:06am 'The delivery of the Caspian Driller is anticipated in mid-2013 and we plan to complete up to two wells using this rig in the second half of the year,' the company revealed."The delivery of the Caspian Driller is anticipated in mid-2013 and we plan to complete up to two wells using this rig in the second half of the year," the company revealed.

Production is steadily ramping up at Dragon Oil (LON:DGO), the international oil and gas exploration, development and production company revealed in a first quarter trading statement.

The average gross production rate in the first quarter of 2013 was around 71,800 barrels of oil per day (bopd), up from 70,600 bopd in the corresponding quarter of 2012.

Two new development wells were put into production during the quarter, resulting in average gross production cranking up to 74,000 bopd in March. By the end of the quarter, daily production was up to around 76,400 barrels.

With Brent crude averaging about US$112.60 per barrel during the first quarter of 2013, the average provisional realised crude oil price during the quarter was around US$92 a barrel (bbl), down from US$107/bbl the year before.

The group said capital expenditure on infrastructure and drilling in the first three months of the year totalled around US$457mln. The infrastructure spend in 2013 is expected to amount to around US$200mln, with about US$300mln to be spent on drilling.

At the end of the quarter, cash and cash equivalents and term deposits stood at US$1,579mln, versus US$1,737mln at the end of 2012.

Other highlights of the year so far include an agreement to secure a reliable marketing route for all its anticipated export entitlement production from the Cheleken contract area until 31 December 2014, and the commencement in early April 2013 of drilling of the Hammamet West-3 exploration well, offshore Tunisia in the Bargou exploration permit.

Dr Abdul Jaleel Al Khalifa, Dragon Oil’s chief executive officer, revealed that initial results from the drilling in the Bargou permit are expected towards the end of the second quarter of 2013, with more detailed analysis to follow.

“Drilling activity is expected to pick up in the second half of the year with the arrival of the two platform rigs secured for drilling in the Dzhygalybeg (Zhdanov) field and the Caspian Driller jack-up rig.

“In Iraqi Block 9, the joint management committee and the partners agreed to conduct the necessary work to enable the drilling of an early well - this reflects the confidence in the existing geological data for the block," he added.

For 2013, the board has indicated that growth in production will be towards the lower end of its medium-term guidance range of 10-15% on average per year.

The board of Dragon Oil has recommended a final dividend for 2012 of 15 cents, unchanged from the interim dividend.

Shares in Dragon Oil rose 1% to 610.5p in early trading.

Sold my holding - in at 520 out at 634.

bought many years ago, No intention to sell below £10.

Did not have a large holding, have my fingers in other big pies. Well done ahoj.

Interesting chart, operating profit up 20%. Anybody following these?

Took the plunge yesterday went long @ 573.85 stop to entry.

Looks interesting but resistance at 610p.

MACD looking very healthy.

Tempting.

I'd be happy with 600p gf.

Well yep these quick return small target trades are a positive thing in this present market. Its like the counter attack in football.

Positive trading to suit the times.

Im all for that.

Stop to target 600p

StockMarketWire.com

Dragon Oil has confirmed an oil find in the Block 9 exploration well, 'Faihaa-1', located in northern Basra, Iraq.

Preliminary tests of the Faihaa-1 Mishrif formation resulted in a flow rate of around 2,000 barrels of 20 API oil per day on a 32/64-inch choke.

Kuwait Energy and Dragon - which have a 70% and 30% interest respectively - will conduct more detailed testing on Mishrif towards the end of the year.

Dragon chief executive Dr Abdul Jaleel Al Khalifa said: "We are pleased to report along with our operating partner Kuwait Energy an oil discovery in the first target, the Mishrif formation, in Block 9, Iraq. This represents the first significant success in Dragon Oil's exploration portfolio. Drilling continues towards the second target, which will be tested later this year, and we look forward to a full evaluation of the discovery and the drawing up of a block appraisal plan by the consortium."

Drilling and Production Update

· Gross production in 2014 averaged 78,790 barrels of oil per day (bopd), a 6.8% increase over the corresponding 2013 level;

· Average gross production in December 2014 reached 89,680 bopd;

· Exit rate of 92,008 bopd achieved.

Dragon Oil plc (Ticker: DGO) today publishes an update on the drilling activity in Cheleken Contract Area, Turkmenistan, and its exploration assets in the fourth quarter of 2014 and production numbers for 2014 and December 2014.

Turkmenistan
Since the previous quarterly drilling update on 10 October 2014, Dragon Oil has completed four wells in the Dzheitune (Lam) field.
In 2014, Dragon Oil completed a total of 14 development and appraisal wells: 13 in the Dzheitune (Lam) field and one in the Dzhygalybeg (Zhdanov) field.

The Neptune rig is currently drilling the Dzheitune (Lam) C/198 development well; the Elima jack-up rig is drilling the Dzheitune (Lam) 13/199 well and Land Rig 2 is drilling the Dzhygalybeg (Zhdanov) A/102 well.

Four drilling rigs are now operational in the Cheleken Contract Area with the Caspian Driller expected to commence operations later in 1Q 2015.

Iraq
In December 2014, the consortium of Dragon Oil (30%) and Kuwait Energy (70% and operator) reported their second oil reservoir discovery at Block 9 in Iraq. The successful discovery was at the consortium's second target, the Yamama formation at 4,000 meters, in the exploration well Faihaa-1. Preliminary tests of the Faihaa-1 Yamama formation resulted in the oil flow rates of around 5,000 and 8,000 bopd of 35 API crude on 32"/64" and 64"/64" chokes, respectively.

The consortium's strategy is to accelerate the evaluation of the Faihaa-1 discovery by drilling two appraisal wells in 2015 in order to fast track the development.

Production
The average Cheleken gross field production for 2014 was approximately 78,790 bopd (2012: 73,750 bopd), representing an increase of 6.8% over the corresponding period in 2013. The average production for December 2014 was 89,680 bopd (December 2013: 72,900 bopd). The exit rate in 2014 was 92,008 bopd (2013: 74,812 bopd).

The Trading Statement is due for publication on 20 January 2015.