Updates

Dragon Oil

June 2010

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.

In Q1, Dragon increased gross production 9% to 47,700 barrels oil per day (bopd), of which 50% comprises entitlement production compared with 65% last time. Lower entitlement reflects a higher average realised price of US$75 / barrel (up 75% year-on-year). Cash balance was US$1.1 bn.Earlier, Dragon announced it is renegotiating its oil marketing agreement with the National Iranian Oil company, following the expiration of a ten-year deal that previously accounted for 90% of its total sales. Until this is resolved it is obliged to sell its oil through its other export route out to the West, via Baku, although prices have traditionally been less favourable.While the fundamentals remain strong this issue is clearly weighing on ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Gulfsands - Bidders likely to return with knockout offer above Â£4 a share

Ultra Electronics -Reassures on US, UK defence budgets

Dragon Oil - Net cash 36% of market value (March 2013)

Dragon Oil (December 2012)

Dragon Oil - Oil and gas producer eyes expansion to 100,000 bopd (September 2012)

Dragon Oil (July 2012)

Dragon Oil (June 2012)

Dragon Oil - Shares hit new high of 645p (April 2012)

Dragon Oil - Heavily oversold on D-I-R-T cheap PE (ex-cash) of 4.1 (January 2012)

Dragon Oil - Eyes production growth to 100,000 bopd by 2015 (December 2011)

Dragon Oil - Net cash 38% of market cap. (November 2011)

Dragon Oil - Output rises by a quarter (September 2011)

Dragon Oil (May 2011)

Dragon Oil - Production hits record 57,000 bopd (April 2011)

Dragon Oil - Monthly production hits new high (March 2011)

Dragon Oil - Very cheap oil producer on a PE of 6.5 (February 2011)

Dragon Oil (September 2010)

Dragon Oil - New marketing agreement (July 2010)

Dragon Oil - Actively seeking acquisitions (April 2010)

Dragon Oil - Shares bubbling up on hopes of commercialising gas assets (March 2010)

Dragon Oil - Receives 455p a share bid (December 2009)

Dragon Oil - Gain to date: 144% (July 2009)

Dragon Oil - New Year NAP showing gain of 56% (May 2009)

Dragon Oil - 28% increase in gross production (March 2009)

Dragon Oil - Aiming to become 40,000 barrel oil producer by 2010 (June 2006)

Dragon Oil - 3D survey to unlock exploration potential (September 2004)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X