| 18:44 |
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JB are selling because they need the money to off-set major losses in other parts of the business. The sell off will continue until the share price falls to a level at which they are no longer in profit with this share probably 200p.
I find it strange that Dragon Oil directors managed to pick the high point for selling without some prior knowledge of the intentions of JB.
Could the Merril Lynch appointment be the precursor to a full take over of the oustanding shares at a cheap price by ENOC ?
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| 18:36 |
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The only thing for certain is this is outrageous, unjustified, and now completely undervalued. What a time to buy in if you have the cash and 6 months. Crazy world. It will recover, when I am not too worried, this year would be nice.
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| 18:22 |
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Perhaps Dragon should have sent JB a copy of this video before they started their sell-off. For me the share price drop is almost entirely due to them. I have not sold any shares and am still happy to hold. I do think that over the piece we will be doing a lot more business with Russia than was planned but who can say that will be a bad thing so long as the share price moves North.
All the best
http://www.metacafe.com/watch/1478594/dragon_oil_plc_dgo/
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| 18:19 |
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The one problem with your theory is that if they were buying the shares back their holding would not have fallen!!
They can not simply decide to declare their new holding based on the sales and ignore the shares they have purchased.
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| 18:17 |
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Just like a retailer, if you have only one item to sell, but lots of it, and you want rid of it, you have to keep dropping the price to keep the buyer buying until all the stocks gone.
If it is JB selling up, then they are pillocks as they are ruining their own market, unless they are desperate for cash.
Stop selling you chumps and watch the value of your portfolio rise. Derrr!
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| 18:13 |
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May or may not be useful - some dates for the diary plus some insight on the PSA - and the trunker news which was also positve and yet ignored. Seems good to me that they have already covered all previous capital costs....
From the ir lady at Dragon...
I am very happy to answer your questions.
1. Upcoming News: This information can be found on Dragon Oil’s website: www.dragonoil.com
a. Trading Statement - Thursday 24th July 2008
b. Interim Results - Friday 22nd August 2008
c. Well completion release – August 2008
2. Dragon Oil’s entitlement barrels largely depend on production levels, oil price and capital expenditure. We do not divulge the exact details of the PSA as it is one of the most favourable PSA’s still in use. Having recovered all historical costs in 2007, Dragon Oil’s entitlement may tend to be lower than the previous years and vary ranging between say 50% to 65% of the total production. NB we announced a $170 million trunkline project yesterday – this is completely recoverable and will eventually have a direct impact on Dragon Oil’s entitlement barrels. All our costs are 100% recoverable under the terms of the PSA.
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| 18:04 |
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Even if the trading statement tomorrow is brilliant, i think the best the price will go is +10% bringing us back to 330p level. Lets hope theres no negative news released tomorrow which would back the significant price drop.
I reckon we need some news on the reserves or the gas deal to get the dragon flying again. Anything but that and price will probably drop again.
Best of luck to everyone. Im selling out tomorrow if its nothing short of an exceptional trading statement.
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| 18:00 |
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| 17:49 |
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If, as expected the results are good tommm and the share price rises substantially then I think this share has been manipulated (don't by who) BIG time. The market expects a good trading statement!
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| 17:46 |
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There does appear to be something terribly calcualted about the way the share price is just sliding away despite the buys often outnumbering the sells - suggests to me that someone JB?? is selling and rebuying to secure lower average costs. JB must have seen something in this share to go in for 10% of the play. Maybe they are rebuilding a position at highly favourable cost position - by panicking the pi community they may well be sucking up shares on the cheap - net result they have bought in lower and got more shares in the process - or will have by the time they are finished and we won't know until the trigger the notification level
Is it possible?
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| 17:45 |
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Jesus - you go away for a couple of days and this has gone to pot.
What is happening?
Chartists on here with no clue.
Where is Fuddo with his BUY recommendations??(!)
Desperate times.
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| 17:33 |
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915,000 buys and 719,000 sells today!!!!! This happened to me recently with Max Pet - the price fell from 70p right down to 33p a day before the trading statement and then rallied from the trading statement date to over 50p now! I just don't understand if JB are off loading and there are more buysthen sells how come the price drops?!!
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| 17:19 |
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| 16:57 |
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For technical analysis try the Technical Insight section next to the discussion tab. This suggests a range of lows from 211p to 290p.
211 would coincide with the long term support line for Dragon and a bounce off this would be an absolute buy signal IMHO.
If someone is selling someone is buying. The buyer is wringing every penny he can from JB IMHO.
Good luck to all.
Beetz
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| 16:56 |
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| 16:51 |
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This was over on the ADVFN board - It was uncredited so I dont know the source..
Gazprom goes shopping
The West should be worried. It should no longer fear Russian tanks; rather it should fear Gazprom! The Russian energy giant is on a mission to lock up gas. Gazprom wants to get its hands on as much gas as possible, at any cost. This will enable Moscow to have maximum leverage on the West and particularly the EU. Whenever Russia is unhappy about something, it hikes prices or turns off the tap. Gazprom is Russia's best foreign policy tool. In response the EU -- which has no common energy policy -- seems at a loss over what to do. Their major project to diversify away from Russian gas, the Nabucco natural gas pipeline, is struggling to move forward. Nabucco will prove to be a litmus test for the ability of the EU and the US to complete a project that is a stated priority.
Russia recognized that Nabucco could break its gas monopoly on transporting Caspian gas to Europe and has taken steps to undermine it, which culminated in the creation of the South Stream project, meant to be a direct competitor to Nabucco. South Stream would start from Russia's Black Sea coast at Beregovaya, the same starting point as that of the Blue Stream pipeline to Turkey, and run some 900 kilometers on the seabed of the Black Sea to Bulgaria. It would be one of world's most expensive pipelines, costing around twice as much as Nabucco, which is estimated at $13 billion. The cost is no obstacle for Gazprom, which aims to have the pipeline completed long before Nabucco.
Over the last couple of months Gazprom has embarked on a massive shopping spree. First there were visits to Turkmenistan and Azerbaijan, which top Europe's list for alternatives to Russian gas. Russia wants to assure long-term, large-volume gas commitments from these countries, which will prevent a Caspian-Europe connection. Turkmenistan has for many years been in the grip of the Kremlin, and Russia has dominated the gas market. But after the death of former authoritarian President Saparmurat Niyazov the West became ready to engage with Turkmenistan, and the Turkmens have signaled a strong interest. Turkmenistan has also made a rapprochement with Azerbaijan, with the two presidents recognizing the importance of their partnership in realizing the Europe-Caspian goal.
Russia has proposed unbelievable deals to both Turkmenistan and Azerbaijan, offering to pay European netback prices, which means the sale price minus transportation costs. Gazprom chief Alexei Millier has even been quoted as saying Gazprom would be willing to pay $1,000 per 1,000 cubic meters. However, Azerbaijani President İlham Aliyev is no fool, and it is unlikely he will strike a serious deal with the Russians, who want all of Azerbaijan's available gas. Azerbaijan is already wealthy, so it can afford to sit and a wait a while for the Europeans to get their act together. The Azerbaijanis may sell Russia a small amount, but Azerbaijan will likely favor having a strong partnership with the West rather than selling out to Russia. Whether the Turkmens will follow suit remains to be seen.
Gazprom has also been to Iran. The end result was a memorandum of understanding that foresees a joint venture for gas and oil development, construction of processing facilities and cooperation in transportation systems. This includes Gazprom participation in the development of the South Pars II gas field (the world's largest gas reserve). It will certainly be a costly venture if Gazprom plans to transport the gas back to Russia given that the field is located in the south of Iran and would require the construction of new pipelines. It is a move that goes against the US-led policy to prevent the development of Iranian gas and also pre-empts the EU, which seems to be of two minds about Iran. Last week French energy giant Total was forced to drop its plans for a multi-billion dollar deal to develop Iranian gas after it came unde
. . . Read Full Message
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| 16:47 |
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I have to agree Phishing, I'm also very niggled as to why ML were appointed? .. can't see any plausable reason. Did ML have any influence over the Director sells which triggered the sharp turn around.
I suspect Dragon are sitting on a goldmine and someone somewhere wants a part of it. My finger points across the Caspian to Russia - they know the areas potential better than anyone, nothing they do would surprise me! there whole power base is built on gas. Still worth a hold but have to say it takes nerves of steel to stay in.
B1
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| 16:43 |
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| 16:36 |
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It's only a chart and a guide, other items can effect it. All the chart shows is that the tails can indicate c£2.90, but it can still go lower. I reiterate it is a guide and it shows that it is possible. I am also heavily involved along with eveyone else, but I do play a stats game and it shows it is possible. We hope and pray for a better day 2morrow and the following weeks/months. I wish us all well for the long r=term as we will need it.
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| 16:33 |
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