Dragon Oil Share Discussion Threads

[richardbroughton] 20/7/2015 14:24

Markets obviously starting to price in a No vote, I agree that if that happens ENOC will come back with a better offer, be nice if was £8.50 plus but I doubt that, £8 more likely. I have to confess after waiting patiently for 10 years I am now ready to exit DGO, can't complain but time to move on. IMO it's a no brainer to sit on your hands until the first vote is out of the way and wait for the next offer although I think there will only be one more offer, they would look completely stupid to keep upping it by 50p. What I can't understand is why the 'discussions with minority holders' didn't flag up to ENOC the likely response to £7.50.

[tobyjo] 20/7/2015 14:06

sure hope you are right Wwalbers,i am still very surprised then the share price is moving down from the offer price at this stage of the event !

[wwalbers] 20/7/2015 13:58

Not a prayer Tobyjo. More chance of me having a bunk up with Brittany Spears than ENOC Walking away. They know they are stealing it, why would they walk away??

[tobyjo] 20/7/2015 13:50

35p lower than offer price now,so the chance of ENOC walking away must be quite a high option what do other members think ?

[bealey] 20/7/2015 13:33

I always thought the price may be dropped at some point to scare the border line yes voters

[tobyjo] 20/7/2015 12:25

dont you think if it was going to be a no vote and a better offer coming after the no vote the share price would now be over £7.50 ?

[beefeater25] 20/7/2015 11:32

What is everyones thoughts on the possibility of this dropping to around 690 this week as we get close to the first NO vote then up to 850p when ENOC come back with their next offer?

[blakieboy7] 20/7/2015 08:17

Dragon down a bit more. Looking forward to an enhanced offer. Start it with a 9 please!! :)

[ferries5] 19/7/2015 15:15

Dragon2go
No idea, but I would not be surprised if there was not a few tricks going on

[ben144] 19/7/2015 13:37

For those interested in oil companies check this Interview with Gaurav Sharma - an Independent Energy Analyst:

[dragon2go] 19/7/2015 12:29

Can someone tell me how much, if any, of Dragon's share issue is owned by Churchill Capital?

[fido] 18/7/2015 14:51

"Dragon Oil Takeover Talks Continue"

"The level of dissent reflects a recognition among the minority shareholders of the potential value drivers” including upside to production and reserves, Gerry Hennigan, an analyst at Goodbody Stockbrokers in Dublin commented"

[fido] 17/7/2015 18:29

blakieboy7,
Tunisia has to some extent been put on the back burner with Cooper having applied for a license extention to allow for abandonment works and further 3D, so it is unclear at the present time on any works programes and drilling.

[blakieboy7] 17/7/2015 18:20

Fido, neither of us have mentioned the Tunisian Hammamet sidetrack either :) all of these projects add up

[fido] 17/7/2015 17:51

Throughout this bid process Dragons valuation has centered around its Turkmen assets when in fact Dragon have a number of highly attractive International projects.
However, such is the excitement surrounding block 9 in Iraq where Dragon hold a 30% stake and the fact that development of that block has through fast tracking been brought forward a year to the point where we should see production from the first wells in 2016, that investors like Elliot are now saying that the Iraqi block could now offer substantially more value to Dragon within the next 12 months and should therefore be factored into the bid valuation

[zitfree] 17/7/2015 17:38

Just had a call from ENOC,I told them ,the offer fails to acknowledge the $2 billion cash that belongs to the shareholders,if this was to be paid out as a special dividend ,on top of the £7.50 offer,then I might consider selling.
Enoc ,mentioned the DGO dividend was to be stopped,but as a long term holder ,I had not recieved any dividends for 15 years ,so that put a stop to that ploy.
If BP,OR SHELL ,or CNOC,were to put a bid in to DGO for £10 ,per share I am sure the board would declare ,that offer seriously undervalues the company.
Any one think different
As a buyer the glass is 1/2 empty ,as a seller the glass is 1/2 full,we all can spin a story to reflect a justifiable point.
Would you sell a £10 note ,for £7.50p,because someone told you ,that is all its worth.
They are not making oil any more.appparently it takes millions of years,The oil is recovered at low cost and risk,in the Caspian sea
Think Gulf of Mexico.think its easy .
Ask BP

[fido] 17/7/2015 17:09

"European Commission looks forward to implementation of Trans-Caspian pipeline"

[spob] 17/7/2015 16:52

Whilst I agree this is not a fair price, I am just saying Elliot are only here for a quick arbitrage play.

They will not put that at risk IMHO

[blakieboy7] 17/7/2015 16:27

Spob, Elliott want a "fair" price, as like the rest of us. ENOC need to up their pathetic offer significantly if they want to succeed

[spob] 17/7/2015 16:13

Elliot bought their 3% stake in June, their motives are very clear. I would be surprised if they did not accept the offer, no matter what they say in public.