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.

Its not nice thats for sure, however look to the future come 2009(just 12months
away) and i can see this 5+. So much going for it, 50,000bopd, increased reserves,gas revenues and a possible take out,a great buying opportunity imho?
I just wonder about the yanks, Bush in the middle east trying to get the price of oil down, shortly after arriving home, issues a statement of his plans to help the
economy. It causes uncertainty and low and behold they go on holiday?
cyril

Bush has not hope in hell of getting the oil price down, any more than Canute could hold back the waves! ..... the market and $ strength/weakness will determine that

All the graphs are starting to look like a sideways view of a mountain range, and we are going down the other side !

Rf its the law of gravity, thats why prices fall much faster than than they seem to be able to rise. so if they rise far and fast, be prepared for newtons law to kick in. be prepared. dont over trade or over stretch our financial resources, to do otherwise is gambling. know your limits, know your risks in the market place, what if? all my stocks all fall out of bed at the same time? what is my total risk and exposure ? this doesnt happen often,. usually some of our stocks are going up whilst some others are going down. this is normal. whatever that is. its comfortable. it is also highly deceptive and highly dangerous.
but what if?
that is the big question that we need to constantly be aware of.
i think it relates to money management. good money management and undertrading/ underinvesting and patience.
ie. undertrade/ underinvest over time, build a solid base of profits before laying down the next layer. and ALWAYS use a stop loss. a stop loss is just that, it doesnt have to be just to stop losses of capital, it is and can also be a stop loss of as yet unrealised diminishing profits, in other words it is also a "take profit" level before we give it all back to the market, and it will take it back, sooner or later, and often with a bit extra, if we allow it.
been there done it etc. hope you dont think sucking eggs and all that.
maybe this post will help others.if just one other then it will have been worth it.

the market seems to now be recovering once again, so maybe a sigh of relief. this may be the low for quite some time , or it may just be short lived, i dont know but i do believe the above previous comments of mine will stand the test of time.
best regards to you
jkd

Wise words JKD, I'll try to take note, my biggest problem has always been when to take profits..?

http://worldwidebb.com/news.php?id=latestnews&cast=395
http://business.timesonline.co.uk/tol/business/economics/wef/article3252069.ece
A couple of interesting articles.
cyril

http://www.energycurrent.com/?id=4&storyid=8413&email=1
Another version.
cyril

Really motoring today !

Looking good for 5 by Easter.

Possibly a bit optimistic halifax, here's hoping !

Up 5% in early.

Nice to see we are back above 4 again.
The meeting which hopefully will gives the thumbs up regarding the gas is on
Valentines day, so just 2 weeks away.Perhaps we might even get halifax's 5?
cyril

Do you mean Halifax Bank or halifax the poster..?

Also good news from the JKX club !

post 107.
cyril

Only kidding cyril...500p would be great either way..

Really good for some of the oilies today, I wish I could watch the ups and downs more !

Excellent day so far wont be long to wait.

from strengthnto strength .... don't but should have!

Shorters should think again. They started too early!