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Secondary Recommendation

Dragon Oil - 3D survey to unlock exploration potential

September 2004

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
With the oil price arrowing inexorably towards US$50 a barrel investors are piling into virtually every second or third line oil stock as if they're going out of fashion. One of the more improbable examples, in view of the fact that it almost went bust in the dog days of the late 90s, is Dragon Oil, which owns two producing fields offshore Turkmenistan, in the Caspian Sea.   The shares have accelerated sharply through the gears from a low of 10p last year as Dragon has enjoyed two fantastic years, culminating in a near doubling of post tax profit in 2003 to nearly US$29m, while its proven and probable reserves have ballooned to 356m barrels.   Not surprisingly, we found chairman and chief executive, Hussain Sultan, infi ...

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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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