Dragon Oil Share Discussion Threads

[fido] 27/7/2015 17:55

zedman_1,
This is not a FINAL offer from ENOC.
ENOC reserve the right to increase their offer, which if they do not get enough acceptances by July 30th they can just increase it to a level that is acceptable OR walk away.
The bottom line is just how badly do ENOC want Dragon, which is something that Elliot are playing on.

[lucy123] 27/7/2015 16:51

Had a call this afternoon from ENOC, said NO to my Tinpot holding of 5K shares in certificated form.

[uknobby] 27/7/2015 15:49

I have been trying to follow what is happening to Dragon Oil shares can anyone help me, If I just ignore the offer from ENOC and they don't get the amount they need by 30th are my shares safe?
If they get enough shares to delisted Dragon Oil what happens to my shares as I'm confused but don't want to sell as I think they will keep gaining in price but I don't wont to lose them?

[fido] 27/7/2015 15:26

Elliot increased their holding by 1,080,000 on Friday, taking them to 5.75%.
I assume they have added today also.
It is clear that Elliot are now forcing the issue of a higher price which is why the market is discounting a no vote on July 30th.

[fido] 27/7/2015 13:12

oscarino.
OK,Will do.

[oscarino] 27/7/2015 13:02

Fido

I would also send copies of everything you send to BG to

[e-mail]


and you could also try sending an inmail via Linkedin to Richard Doyle at Setanta

hxxps://www.linkedin.com/pub/richard-doyle/17/923/65

[fido] 27/7/2015 12:35

Rest assured all that I post here gets forwarded to Ballie Gifford.
Their main man Nick Thomas who is dealing with the Dragon takeover is on holiday at the moment so I am currently dealing with his deputy.

[fido] 27/7/2015 11:06

PS,
As well as Uganda and Angola, I would be very surprised if Dragon were not talking to Iran over oil & gas projects.

[fido] 27/7/2015 11:03

RichardBroughton,
The market is indicating that there is a material risk of not completing at the first close. Depending on the level of desperation Enoc have of getting their hands on Dragon, it is up to them to talk to the main investors to guage a level that would be accepted and if agreed, to come up with a higher offer.

[richardbroughton] 27/7/2015 10:55

Although I know very little about this the current discount to the offer price seems quite high with just a few days to go. Is this normal or an indication that the market thinks the offer will not be accepted? Thanks.

[fido] 27/7/2015 10:55

As the decision over the Trans Caspian pipeline draws near, the building of
the infrastructure to connect to it gathers pace. The article cites the gas
of Petronas but that of Dragon oil will also be included.
Enoc say that there is no market for Dragons gas but this is clearly
nonsense.

[fido] 27/7/2015 10:37

Iran ready to export Turkmen oil & gas.

[fido] 26/7/2015 17:31

shadoof1,
Let me refer back to a previous article to demonstrate a point.

"Mr Hennigan, who says he has covered Dragon Oil for 10 years, reckons the long-term minority investors are familiar enough with the company to comment knowledgeably about its prospects.

“The stand-off between Enoc and the minority shareholders reflects the fact that many of those minorities who held the shares at the time of the previous attempt to acquire Dragon Oil by Enoc have a good understanding of how value has been created in the past, and a reasonable expectation that further value will accrue in the future"

Many shareholders here will have personal experience through their Dragon holding of how Enoc have lied, cheated, twisted the true and given out misinformation. To them Enoc`s comments about the 100,000bopd and all the other misinformation is just bull.

"We are unsurprised by the content of Enoc’s statement,” Mr Doyle said yesterday. “We do not think that the 90,000 bpd profile is reflective of the Cheleken field’s potential, and we note that Enoc refers to this as a ‘near-term’ target and that it is an ‘initial’ view, very much allowing for the possibility of materially higher production in the following years"

This is the ENOC most investors know only too well from the last time and which is why there is so much disbelief of anything Enoc says now.

[blakieboy7] 26/7/2015 13:37

Thanks for sharing your thoughts Shadoof1, much appreciated

[shadoof1] 26/7/2015 13:07

This scenario is in fact bordering on criminality, some posters on here are quite rightly in their opinion scoring for ENOC. The evidence is so overpowering ENOC know that with this bid it is not going to happen and will be weighing up their options after the 31st July. Small shareholders like myself have been in since 1995 and feel that ENOC are a lying, cheating company with directors who should be ashamed of themselves. With around 40000 shares it makes no difference to the big boys but I for one are not willing to be ripped off.I personally am grateful for the postings of more experienced investors than myself, particularly Fido who actually states it as it is. Thank you.

[blakieboy7] 26/7/2015 12:53

Agreed Fido. I just hope that this threat has not swayed certain investors. The fact that ENOC have even referenced stopping the dividend is pure blackmail

[fido] 26/7/2015 12:49

blakieboy7,
It should be remembered that at this present time, the cancellation of a dividend is just a threat. If ENOC loose out in the bid, the Dragon dividend would be an important source of income to them.

[blakieboy7] 26/7/2015 12:31

ENOC are crooks, plain and simple. Offering a pathetic price, telling lies about future production and opportunities and pulling the plug on the dividend.

[fido] 26/7/2015 12:19

"they will never buy it unless its at a discount"

While I agree, who do ENOC think they are that they can DEMAND a discount.
Its like you going into your local supermarket to do your weekly shop and saying that you will go elsewhere unless they sell it to you at half price.

Well in my opinion ENOC can either pay a FULL price like anyone else would have to or they can sod off and continue as a shareholder like myself.

[exbroker] 26/7/2015 11:35

ENOC have not said the offer is final so they have room to lift it if needed. They know what this is worth to them they are just trying to get it as cheap as they can.I would be very surprised if the bid was made final at 790 if Elliot did not accept it. They will go away with a very nice profit from and arb deal with their reputation enhanced as an atavist investor who helps the small shareholders as well as them selves.B.G. also walk away with credit having been the first to say it was not enough. And ENOC will be happy because they will have bought Dragon for less that it is worth to them, they will never buy it unless its at a discount.

[fido] 26/7/2015 08:25

zitfree,
What Enoch value so highly they are prepared to use all the underhanded tricks in the book to get their hands on, they also expect others to let go for peanuts. If Enoch had offered a fair price then the deal may have gone through but it's because the offer so undervalues Dragon that has caused so much opposition.

[zitfree] 26/7/2015 07:29

If dragon oil shares ,have no future ,according to Enoc,Why are they ,so desperate ,to buy any shares they do not hold.
And DESPERATE ,is the word I would associate ,with the phone calls ,I have recieved.
I suspect ,the same dept ,that are responsible for the phone calls are also posting ,on these boards ,claiming the offer is a full one ,and fully values DGO.
Common sence ,tells you the offer ,does not come anywhere near ,the true valuation ,and DGO future potential .

[zitfree] 26/7/2015 07:29

If dragon oil shares ,have no future ,according to Enoc,Why are they ,so desperate ,to buy any shares they do not hold.
And DESPERATE ,is the word I would associate ,with the phone calls ,I have recieved.
I suspect ,the same dept ,that are responsible for the phone calls are also posting ,on these boards ,claiming the offer is a full one ,and fully values DGO.
Common sence ,tells you the offer ,does not come anywhere near ,the true valuation ,and DGO future potential .