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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Dragon Oil - Gain to date: 144%

July 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • DGO
  • Price:
  • 366p
Shares in Dragon Oil, a 2009 New Year Nap at 150p, soared above 400p at one point after it received a take-over approach. This turned out to be from significant shareholder, The Emirates National Oil Company (ENOC), which subsequently stated that it was considering an offer price that would represent a modest premium to Dragon's closing price as at 3 June.Meanwhile, Dragon's latest IMS for Q1, which noted average daily production increasing 19% to 43,787 barrels oil per day, plus a net cash pile of US$833m, certainly won't have harmed its attraction to potential bidders. Gain to date: 144%. Await events. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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