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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Dragon Oil

September 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.

  • Epic Code:
  • DGO
  • Price:
  • 433p
Dragon announced strong interims with revenues rising 5% to US$276m and pretax profit increasing 31% to almost US$174m. Eps rose 31% to 26.7 cents, while net cash impressively rose from US$875m to US$1,154m (including US$155m for abandonment liabilities). This improvement came largely thanks to a 50% rise in average prices to US$75 / barrel  as well as an 8% increase in average production to 46,420 barrels oil per day (bopd). This growth was slightly below previous guidance due to delays in bringing new infrastructure into place but this is now moving apace. Dragon has agreed contracts for the construction of two new drilling platforms allowing up to 16 new development wells, while the phase 2 upgrade to its central pr ...

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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.

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

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