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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Dragon Oil

June 2012

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:
  • 559p
Dragon's first quarter production averaged 70,600 barrels oil per day (bopd), representing a 15% increase over the previous year's average, helped by five new development and appraisal wells going into production. Average prices achieved in Q1 were US$107 / barrel, a 13% increase over 2011. To support future growth Dragon has commenced the tendering process for new infrastructure including two new build jack-up rigs and construction and installation of additional platforms (to support new development wells and in-field pipelines). Most interestingly it's also going out to tender for an EPC project for a gas treatment plant, which may finally tilt the Turkmenistan Government's hand towards granting them a long-term gas sales agreem ...

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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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