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Secondary Recommendation

Dragon Oil - Oil and gas producer eyes expansion to 100,000 bopd

September 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:
  • 606p
Shares in Dragon Oil have performed extremely well in the past three years and are within touching distance of their all-time high of 650p set in early April. This momentum reflects a combination of factors, most notably strong growth in production and cash flow as well as the introduction of a share buyback program. However, in spite of the good run it's still far too early to jump off the shares and if anything we believe Dragon will soon command a share price well in excess of £10, with the key catalysts being management's target of increasing average production to 100,000 barrels oil per day (bopd) by 2015, as well as progressing some exciting exploration prospects. Dragon's principal assets are two oil fields situated in the ...

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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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