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Hopefully stay above for close
£6 has been tipped over this week - Looking good
Hey, Just completed my writeup on Rialto which I think dragon oil could be looking to farm into. It suits Dragon's portfolio and has West African Assets. Please leave any feedback in a comment below. You can find the article at the url below. Please also post this on iii.co.uk if you have an account and signup to free email updates using the box on the right if you wish. www.theel1tetrader.blogspot.com El1te
Maybe of interest to investors here, posted by QueenElvis on the PMO BB ; http://www.dailyfinance.com/2012/08/22/4-smaller-alternatives-to-bp-and-shell/
A steady flow of buys coming through, has anyone got any thoughts or news?
DRAGON OIL PLC (the "Company" or together with its subsidiaries "Dragon Oil" or the "Group") Drilling Update · Dzheitune (Lam) 28/174 well tested at initial rate of 1,705 bopd · Dzheitune (Lam) 13/144C sidetrack tested at 956 bopd Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, publishes the results of successful completion and initial testing for the Dzheitune (Lam) 28/174 development well and sidetrack of the Dzheitune (Lam) 13/144C. The Dzheitune (Lam) 28/174 well was completed as a single producer to a depth of 1,976 metres. The well tested for initial production at 1,705 barrels of oil per day ("bopd"). The drilling rig will undergo scheduled maintenance before skidding to spud the next well on the Dzheitune (Lam) 28 platform. The sidetrack of the Dzheitune (Lam) 13/144C well yielded the initial flow rate of 956 bopd from a single string. The reached depth was 2,637 metres. The rig has moved to add intervals on the Dzheitune (Lam) 13/171 well; while testing and optimisation work continue on this well. Dragon Oil is to publish its trading statement for the first half of the year on 24 July 2012.
http://www.investegate.co.uk/Article.aspx?id=201207180700048827H
Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, said: "I am pleased to announce the initialling of the service contract for Block 9 by the Iraqi Ministry of Oil and the Iraq Block 9 consortium, including Dragon Oil. This precedes the signing of the final contract anticipated later this year. This move into Iraq demonstrates our endeavour to diversify Dragon Oil's portfolio. It will also facilitate working with our consortium partners to bring success in the development of Iraq's hydrocarbon resources."
Initialling of Contract for Iraqi Exploration Block 9 Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, announces that the Iraqi Ministry of Oil and a consortium of companies, including Dragon Oil, today initialled the exploration, development and production service contract ("EDPSC") for Block 9 in Iraq. This is the first step in a formal process before the signing of the final contract, which is anticipated later this year. Dragon Oil bid jointly with Kuwait Energy and the Turkish Petroleum Corporation (TPAO), the national oil company of Turkey, in respect of Block 9. Kuwait Energy will be the operator in the EDPSC for Block 9, participating with a 40% contractor share, with TPAO having 30% and Dragon Oil 30%. Block 9 is located in the Basra province and covers an area of 900km2. If Block 9 is found to be commercial during the five-year exploration period, the consortium may make an application to the Iraqi Government to develop the block over a 20-year development period. The consortium's bid for Block 9 was awarded on the basis of a remuneration fee of US$ 6.24 per barrel of oil equivalent. Compared to the previous bid rounds in Iraq, there was no stipulated plateau production target for blocks awarded in this bid round.
http://www.investegate.co.uk/Article.aspx?id=201207160930527190H
Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented: "We are pleased with the progress that Cooper Energy, our partner in the Bargou Exploration Permit, has made in securing a rig to drill the Hammamet West-3 well in the Hammamet West Oil Field. Dragon Oil is contributing towards the cost of drilling this exploration well under the farm-in conditions and is sharing our expertise and knowledge of working with complex and challenging reservoirs. We look forward to seeing the results of drilling in 2013."
Update on Bargou Exploration Permit, Tunisia Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, announces that Cooper Energy Limited ("Cooper Energy"), on behalf of the Bargou Joint Venture, has entered into a legally binding Letter of Intent with Grup Servicii Petroliere SA (GSP) with respect to the rig contract for the jack-up rig "GPS Jupiter" to drill the Hammamet West-3 well, offshore Tunisia. Drilling is scheduled to commence between December 2012 and March 2013 depending on when the rig is released from previous commitments. The Bargou Joint Venture comprises Dragon Oil (55%), Cooper Energy (30%) and Jacka Resources (ASX: JKA, 15%). In any development phase, Dragon Oil will assume operatorship. The Bargou Exploration Permit is located in the Gulf of Hammamet in the Mediterranean Sea. The Permit covers an area of 4,616km2 with predominantly offshore exploration prospects and leads in water depths of approximately 50 to 100 metres. Dragon Oil will pay 75% of the cost to drill the Hammamet West-3 well in the Hammamet West Oil Field (the "Field"), according to an agreed well plan scope, up to a cost cap of US$26.6 million (on a 100% basis). If the well cost exceeds US$26.6 million, costs in excess of this amount will be shared among the joint venture partners pro rata to their participating interest. The well plan consists of a pilot hole followed by a horizontal section to intersect the fractures within the Abiod formation thereby increasing the flow potential of the reservoir.
http://www.investegate.co.uk/Article.aspx?id=201207160710067080H
dragon oil has been buying back some shares recently are we getting a dividend this year or a one off special. Anyone know or comments would be helpful.
Thank you for your comments dont disagree with anyone lets just hope it continues to do well. The divi also helps after years of nothing.
Fully agree with norman4uk , this (Imho) is a good long term share holding . Consistent good news from central europe and with fully expected find off North Africa to come .
I am sorry but do not know what reuters have said on the share price, always remember with every share you see,they never rise in a straight line, look back at the dragon share charts, there are many waves but overall a steady rise over the last 10 years, take a look at any share that is doing well at the moment and trace the charts back and see all the dips, Dragon is a good share and i retain faith and my holdings in it
Thanks for the info, do you have any opinions on the reuters share price.
At the moment there is an oil glut, oil falling in price , USA released a large number of barrels of oil over the last few weeks to counteract the higher price there, Nigeria is producing more than they have ever done, same as Libya and Saudi, the Nymex will fluctuate between 70 $ and 115 $ per barrel for the summer period
I`m as confused as you, can`t find anything to indicate why this goes up and down, like the proverbial yo yo, perhaps someone has the answer but I don`t know who and not many posters here.
Well here we go again has anyone any thoughts as to this fall again. We seem to get to a certain height then fall off the cliff. I cant find any reason for the fall iam i missing something.
With recent news from Reuters about sp, why is the sp fluctuating so much and not up at the precicted level?
I am sure there were more comments after 16 Apr ' 12 , if so what is happening ? Received our divi also .
"We have commenced tendering for a significant number of projects, including new wellhead and production platforms and associated pipelines, drilling rigs, onshore infrastructure. The group has also received the approval to start tendering for the Gas Treatment Plant," it said.