not fulfilling the brokers' recent prophecies of £8 plus in this case. Problem is there are so many shares fall into this category. Which one(s) shall I chose.
26 Apr '13
2013 – The Great Irish Share Valuation Project (Part XI) I take a look at Dragon Oil, plus a batch of other Irish stocks: http://wexboy.wordpress.com/2013/04/24/2013-the-great-irish-share-valuation-project-part-xi/ Cheers, Wexboy
Drilling and Production Update Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, today publishes a quarterly update on the wells completed and tested in the first quarter of 2013. The Dzheitune (Lam) 28/178 well was completed as a single producer to a depth of 2,010 metres and tested in February 2013. The well tested at an initial production rate of 1,653 barrels of oil per day ("bopd"). This well is currently stabilised and producing at a rate of 2,065 bopd. The jack-up rig is currently drilling the Dzheitune (Lam) 21/180 and 21/181 development wells in a batch drilling mode. The Dzheitune (Lam) 28/179 well was also completed as a single producer in March 2013. The depth of the well was 1,885 metres and the well tested for initial production of 1,975 bopd. This well is presently producing at a rate of 2,218 bopd. The land rig is currently drilling the Dzheitune (Lam) 28/182 well. The average field production for 1Q 2013 was 71,800 bopd (1Q 2012: 70,600 bopd). The average production for March 2013 was 74,000 (March 2012: 72,000 bopd) with the quarter's exit rate at approximately 76,400 bopd. The final production figures for the quarter will be published in the Interim Management Statement due to be released on 23 April 2013. We reiterate our guidance for the growth rate for the full year 2013 to be at the lower end of the medium-term growth rate of 10% to 15%.
8 Mar '13
As the market takes its position and progressively add dgo to their portfolios the sp rises, simples. This is backed all the way to well over £8, has cash in the bank and pays a solid dividend. It's a safe bet.
6 Mar '13
What don't I know?
Anyone know what has been driving the SP up in the last few days. I know this share has been undervalued for a long time but no fresh news in the last couple of days, so is it just that more investors are becoming aware that DGO is producing lots of oil, in diversifying and has a huge huge stash of cash? Or does someone know something I don't.
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