First ever post...! Dragon Oil, I have done well with this share in the last two months but now it is heading for the weeds. I have hunted the news for clues but have found nothing. Anyone got any ideas or thoughts on this stock?

Production is over 20000 bpd.
Mainly held by big the directors and EMOC.
Gas output is high. But no news about how they are using it.
They have been successful in almost all their wells.

They plan to increase production to 50000 bpd by the end of the year.
The result of 3D analysis of the field should come soon. But the directors are optimistic.

Above 20K is good enough. When are they going to say, it's above 30K? I roken by summer this year.
Anyway, oil price has been high since the end of last year.

16 million more out put per year company ads 24 million could be something big going to happen

Demand for oil will increase as the growth is around the highest levels ever in most developing countries and very high in the developed countries.
Good for our little (maybe "our big" if the data is positive) Dragin oil.

looks like a bit of profit taking today

results due around 22 March does anyone have firm date ?

lost 15% in last week should i be worried ?

Any reason for crash today?

Dragon Oil mulling 10 pct equity fundraising

SPOT THE ERROR.

Dragon Oil PLC
04 April 2005


The following replaces the Final Results announcement released today at 7am
under RNS number 5274K.

It is being re-released due to a single typographical error which has been
corrected.

The full correct text appears below.




DRAGON OIL PLC ('DRAGON' or the 'Company')

ANNOUNCEMENT OF RESULTS FOR 2004


Dragon Oil Plc, the international oil and gas exploration and production
company, today announced its results for the year ended 31 December 2004.


HIGHLIGHTS

In summary, the results for 2004 compared with 2003 were:


Turnover US$97.1 million +18%
Operating profit US$57.1 million +53%
Profit after tax US$49.7 million +73%
Earnings per share (Basic) 12.31 cents +56%



Dragon recorded a turnover of US$97.1 million (2003: US$82.0
million) resulting from sales of 2.8 million (2003: 3.2 million) of its
entitlement barrels.



The average gross production from the Cheleken Contract Area
during the period was 13,264 barrels of oil per day ('bopd') with 8,630 bopd
attributable to Dragon. Production reached 20,532 bopd in the second half of
the year.



Profit after tax of US$49.7 million (2003: US$28.8 million),
the increase largely due to higher oil prices realised and lower operating
costs.



Benefiting primarily from the stronger oil market, Dragon
generated net operating cash inflow of US$70.9 million (2003: US$55.4
million) and a year-end free cash balance of US$33.1 million.



The Board's assessment of remaining recoverable proved and
probable reserves in the Cheleken Contract Area, offshore Turkmenistan, as of
31st December 2004, is 661 million barrels of oil and condensate. In
addition, the Board's best estimate for contingent gross gas resources in the
Cheleken Contract Area is 3.5 trillion cubic feet.



Upon substantial progress being achieved on the execution of
the Field Development Plan, it was decided to divide the responsibilities of
the Chief Executive Officer ('CEO') and the Chairman of the Board, and
accordingly, Mr. Essa Almulla was appointed CEO of Dragon with effect from
18th October 2004.



The drilling campaign on the LAM 21 platform concluded with the
completion and testing of a fourth successful well, 21/109. Following
refurbishment of the LAM 10 platform, Dragon commenced drilling well 10/110,
the first of a series of planned wells from this platform, on 25 December
2004.



Seven wells worked over during 2004 yielded excellent results and
these wells are now contributing significantly to production.



Dragon has signed a contract for an initial two-year term with
National Drilling Company of Iran for the Iran Khazar jack-up rig. This rig
is expected to be mobilized in Quarter 2 2005 to replace the existing jack-up
rig at the end of its contract period.


Mr Hussain M. Sultan, Chairman, commented:



'I am pleased to report significant progress during 2004 which augurs well for
the future of the company. In the second half of the year, total production
reached 20,532 bopd following a successful drilling and well workover programme.



During 2004, Dragon continued the strategy of increasing production in its
Cheleken Contract Area through investment in drilling and various development
activities including a successful workover programme. As a result, total
production reached 20,532 bopd in the second half with further growth
anticipated.



We expect the marine 3D seismic survey to deliver a much clearer picture of the
fields' internal reservoir architecture. This is critical to identifying further
drilling targets that may lead to increased economic oil recovery from the
fields. The results of the interpretation of the data will further enable Dragon
to target geological sweet spots and help reduce the risks in drilling.



Dragon continues to explore various sources of alternative financing options to
fund its long term development plans. This remains an immediate priority for
Dragon in order to progress its continuous drilling programme and may include an
equity placement or other form of equity fund raising in excess of 10% of
present issued share capital to fund capital expenditure for the Cheleken
Contract Area.



Dragon's growth strategy includes looking at other areas of exploration and
production to complement the activities in Turkmenistan.'

Enquiries:



Dragon Oil plc

Hussain M. Sultan, Chairman

Who was happy to pay over 100p last month and above 97p today?

dgo REALLY KNOW HOW TO MOVE OVER12 MONTHES

Dragon Oil PLC
11 April 2005

PRESS RELEASE
DRAGON OIL plc

Dragon Oil Plc ('Dragon')


WELL LAM 21/107 WORKOVER

Dragon is pleased to announce the successful workover of well LAM21/107 in the
Cheleken Contract Area, offshore Turkmenistan. Reservoir intervals in Zone 4
and Zone 5 were perforated resulting in incremental production of 1,481 barrels
of oil per day ('bopd'). The addition of new perforations is facilitated by the
well's monobore completion design, which allows additional zones to be
perforated at lower cost without running a new completion.

It is planned to continue the well workover programme in 2005 with operations
comprising both rigless perforation and a hydraulic workover unit.
...

"Khazar" is persian name for "Caspian".

DGO raised 22 million sterling,surely not beer money,are they going to push prodn and sale of gas next,as wellas oil.

Directors buying shares

SO they didn't continue to discuss with the buyer(s). Many questions remain unanswered:
Who was the buyer?
How much was the offer?
Are they coming back?
Price target for any possible offer?

go to advfn it is much better for DGO threads

Looks like buyer may be coming back -- about to break out!

dikytree.

good volume and rising... Directors baught too last week...