focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Commenting on the group's progress CEO Abdul Jaleel Al Khalifa said, "We have maintained a strong level of gross production in the first quarter of this year, supported by solid performance from the Dzheitune (Lam) area and good progress of the drilling programme." The group, which recently became a member of the Bargou joint venture off the coast of Tunisia, said the average realised crude oil price during 1Q 2012 was approximately US$107/bbl, up 13% from the same quarter in 2011.
Caspian Sea-focused oil and gas giant Dragon Oil said it confident of delivering 15 per cent output growth in 2012 and has brought five new wells into production since the start of the year. The group said the average daily production rate during the first quarter was 70,600 barrels a day and is on course to reach its medium-term target of 100,000 in 2015.
http://www.investegate.co.uk/Article.aspx?id=201203190718595818Z
Well on their way to target of 100000 BOPD! DRAGON OIL PLC (the "Company" or together with its subsidiaries "Dragon Oil" or the "Group") Drilling Update Dzheitune (Lam) C/167 well tested at initial rate of 3,396 barrels of oil per day Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, announces the successful completion and initial testing of the Dzheitune (Lam) C/167 development well. The well was completed as a dual producer to a depth of 2,765 metres. It tested for initial production at 1,682 barrels of oil per day at the short string with the long string testing at 1,714 barrels of oil per day. The combined rate of initial production was 3,396 barrels of oil per day. The drilling rig has skidded to the next slot and spudded the Dzheitune (Lam) C/170 well. Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented: "I am pleased to report solid drilling results from the first appraisal and development well to have been completed from the new wellhead and production Dzheitune (Lam) C platform. The drilling results together with logs and pressure tests indicate that the prolific oil bearing sands in the reservoirs under the Dzheitune (Lam) 28 platform extend to the west towards the Dzheitune (Lam) C platform location. The findings from this well further prove our understanding of the Dzheitune (Lam) West area." - end -
Annual report, just out is very positive indeed about the future. More punchy friendly presentation this year and has the feel o f a company wanting to get the good news across. I know some conspiracy theorists think ENOC will make another bid but this report does not seem to be influenced of a major shareholder trying to keep the price down in order that they can make another low bid. More likely ENOC want to get the price up in order to sell some IMHO. That would pave the way for a FTSE listing.
Have now found the article, so again many thanks. Lets hope the ML forecast comes good.
If you want info on the Dragon Oil story, have a look at advfn .com. which is free to join unless you want level 2. Lots of info and background there.I have held these shares since they were 20p and I am still holding as i think they have a lot further to go.
Hawkander. This may help http://www.oilgasdigest.com/2012/03/08/bank-of-america-merrill-lynch-upgrades-dragon-oil/
Many thanks for the info, I`m a bit of a novice at this sort of thing. I have looked at the ML site, but don`t seem to be able to find the announcement you refer to, but will look further.
Future Google Merrill Lynch, dragon oil and you will be able to read the report on M L website. Dragon have lots of oil and are still finding more. It has always been undervalued.there is a video on III regarding its prospects also. DYO but if you have a problem let me know and I will attempt to post links. I don't like links as I personally do not trust them. for a lo
Thanks for that, which was my thinking, but why was there such a rapid rise, does someone have any ideas about the future prospects and where did the Merrill lynch forecast come from?
Profit takers .
Anyone have any idea whats happening with this share, as it was rapidly rising, only to fall back again?
I think a lot of these apparently red transactions must actually be DMA buy/sells bought on the bid price as otherwise this just makes no sense
Something funny going on - masses of apparent sells and masses of MASSIVE sells raining in but price somehow holding up. Maybe there's a big buy order being put together or some monster buys not yet reported or something. Will be interested to see what comes through.
finally expect it to start seeing some high volume gains due to the broker coverage. wouldn't be surprised to see £7+ next week imo
Merrill Lynch just upgraded Dradon Oil target to 805p a share
Wow 611p. A break out as,at last, people wake up to this company. One of the smaller oilies which produces masses of oil and has been undervalued for ages.
Up 30% since December. Fantastic results, loads of oil and yet hardly anyone posts about this share. Is it mainly institutions that hold shares?
too right your shares will be worth something now. Your right when you say they consolidated, the share's were diluted to 25 shares meaning if you bought £200, which I think would have equated to around 8000 shares at the time (as they were 2.5p) then you should be holding around 320 of the new shares at 25p which should equate to over £1800 at todays price level. I think thats right, apologies if I'm wrong....
For anyone considering SLG as an investment... http://www.lse.co.uk/general-chat-discussion.asp?page=6&TopCode=JQ3JQ1NR#49908
I bought £200 shares in DGO way back in 1996 i know they consolidated at some point, will these shares be worth anything now?
I think DGO may get done for insider trading...
Hi all, I`ve been with DGO some 15 years now and it would appear we are approaching the all time high again, has anyone any ideas if we are likely to go further and will the bulk gas supplies have any affect on the price? The situation in Iran and Syria, may push up the price, any oppinions?
Drilling Update Dzheitune (Lam) 28/166 well tested at initial rate of 1,975 barrels of oil per day Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, announces the successful completion and initial testing of the Dzheitune (Lam) 28/166 development well. The well was completed with a single string to a depth of 2,810 metres and tested for initial production at 1,975 barrels of oil per day. The rig has skidded to the next slot and spudded the Dzheitune (Lam) 28/169 well. We are currently completing the Dzheitune (Lam) C/167 well with initial test results anticipated in approximately two weeks' time. An additional perforation performed on the Dzheitune (Lam) 13/144B existing well yielded limited incremental production. Drilling of the Dzheitune (Lam) 13/168 well is ongoing.