Dragon Oil Share Discussion Threads

[fido] 03/8/2015 09:14

I said right at the start of this bid that I would vote no to all enoc offers until I was outvoted. I said that on the basis of knowing that ENOC would never offer me anything close to what I knew Dragon to be worth.
I have fought long and hard to try and see this through to the potential that I know exists in Dragon but just as you cannot deny the coming of a new day, you cannot deny the fact of being outvoted.
I said at the start that this was an opportunistic bid by ENOC brought about by the 60% fall in the oil price and the subsequent effect on asset values. The annoying thing is that much of the drop in the oil price has been engineered by politics rather than supply and demand and we have been caught up in the tidal wave of problems associated with this with the loss of a much loved long term investment. While that is very sad, it should be remembered that while many have made money from Dragon, the oil industry has lost many hundreds of thousands of jobs and huge sums of investments. This in time will force the oil price back up again and the speculators will have made their gains. So much pain inflicted on so many people just because those in charge cannot think further out than the here and now.
While it is extreamly dissapointing that the likes of BG and Elliot have accepted a low ball offer, made to look good by the current oil price environment,they will now be looking at future opportunities and we must do the same.
With regard to ENOC I am in no doubt that they have ripped people off both with the price offered and the underhanded way that they have conducted themselves throughout the bid process. I have no doubt whatsoever that ENOC will now be pushing for Turkmen production to reach 200,000bopd in Turkmenistan and will have their foot down hard with regard Dragons International expansions.
Be in no doubt that the greater benefactor here is ENOC.
The saving grace is that I along with everyone else did what we could to protect our investment and people must be proud of that.
Sadly it is time to move on but it is hard to believe that any future investments will hold the same emotional convictions that I had with Dragon.
Like I said, an end to an era.

Good luck and great respect to all.

[xpopsx] 03/8/2015 09:13

I've been a shareholder in Dragon since the 1p days and that is my only connection to the world of share dealing. I therefore have not been in a position to offer any helpful or useful comment to this forum but I have obviously been very interested in the opinions, advice and comments of the more experienced members amongst us. I would like to thank everyone who has posted on here and particularly Fido and Exbroker whose posts I have usually found very helpful. I wish all of you the very best for the future.

[ccraig69] 03/8/2015 09:10

Is the divi still being paid only a few days till results

[richardbroughton] 03/8/2015 09:09

Hi, I dont understand why the shares are trading at 799 for a sell, buying at 799.50. Anyone buying and paying stamp duty at 1% is going to lose money surely? Does this make sense? thanks Richard.

[sutton3] 03/8/2015 07:34

It looks like its all over for us as far as Dragon is concerned.
As many have already said thanks to MOST of you on this thread and especially Fido.
You have kept me informed and amused at times and whilst I agree we have been shafted on the price regarding Dragons potential we have all made money.
Hope we meet up on another thread I know I will be hearing from several of you over on Tethy's lets hope we can get that one up to Dragons level.
Regards to All.
Sutton

[blakieboy7] 03/8/2015 07:14

Should we receive another corporate action notification from our brokers now asking if we accept the revised offer?

[wwalbers] 03/8/2015 06:41

Ardfert2 - I'm looking at SOU - seems interesting. Any views?

[ardfert2] 03/8/2015 00:50

I see in the FT that the offer is now 800p and with the big boys accepting it that is what we will get. I have been riding on the back of the Dragon for many years and all in all it has been a very pleasant and profitable ride. I would like to thank all the wonderful people here who have contributed to our recent success. I hope we will meet again soon on another mission. Anybody got any ideas of where we could settle for another adventure?

[dragon2go] 02/8/2015 22:36

I can create a forum if needed or perhaps just something like a chatbox at a suitable domain

[lazydingo] 02/8/2015 22:07

Looks like finally the dragon oil saga has come to an end. Thanks to all who have posted and kept small time investors like myself in the loop.
Would especially like to thank Fido for all the research and comments he has posted.
Biffbudbert I second your idea of remaining friends.
Anyone know how to set up a site where ex dragon oilers can keep in touch?

A crazy thought ....Maybe once e noc have paid us all out. The Russians will decide they want Turkmenistan back just like they did with Ukraine and and the arbs will also get to feel what it is like to have something stolen from you.

[saget] 02/8/2015 21:44

Here here biffbudbert.

Thanks all - I remember the dark days of 2009 and the great support/advice offered on this board, telling me to hold onto my shares despite their almost daily double digit falls.

Now I think we'll need to support each other throught the perils of CGT - anyone got any clues about how to tackle that?
(I'd like to give half of my stash to charity - would that affect CGT in any way?)

[biffbudbert] 02/8/2015 21:30

Gutted.....but after nearly 20 years of holding this share, I have two things to say...1) MASSIVE thanks to fido for his rock solid heart felt contribution to this forum.

2) Can we all remain friends, either on this forum or the next. I'm sure we can come up with another Dragon between us...................

BBB

[richardbroughton] 02/8/2015 20:51

I would have thought that if a dividend was going to be paid it would have been announced with the increased offer as part of the deal.

[oscarino] 02/8/2015 19:50

i can't get to grips with the fact that this deal was agreed so soon after the offer failed on Friday, And then it being agreed at £8 on a SUNDAY.They had until the end of the August to negotiate a better deal and yet they did it in 2 days. It all smells so fishy. Nothing about the way ENOC works appears above board. Maybe the fund managers at BG and Elliot will be made directors of ENOC with a healthy renumeration package and a house in Dubai. And lets see if they choke production down to 90,000 BPD now that they are in the drivers seat.

[lucy123] 02/8/2015 19:40

Regarding dividend, last year results came out 5/8, interim payment paid One month later. This year results due 7/8, will we get a dividend payment in sept?

[guy_fawkes] 02/8/2015 19:09

What did Elliott know?

[a77] 02/8/2015 18:52

Not bad return for an initial outlay of 1p per share. Thanks to all the posters for getting the momentum going for the no vote and getting us all an extra 50p per share. Off to the pub to have a drink and ponder over CGT!

[richardbroughton] 02/8/2015 18:41

A dividend isn't an automatic payment, it has to be declared by the BoD each period, usually 6 months, sometimes 3 months. As far as I know DGO have not declared an interim dividend so there won't be one.

[lucy123] 02/8/2015 18:09

Will we get more documents again, to accept offer?, additionally what will happen about dividend payment in September?

[zitfree] 02/8/2015 17:45

Looks as if enoc have offered £8.00 per share ,and this has been accepted by 2 of the largest minority shareholders,whic means done deal .
the offer was described as best and final offer ,by enoc

[sinbad74] 02/8/2015 17:20

Do you think we will still get the dividend due in a couple of weeksI think it may be included in the bid price

[guy_fawkes] 02/8/2015 17:11

Premium Bonds, Royal Mail and TalkTalk is where my money is going.

[deans] 02/8/2015 17:01

Not a holder but appreciated the thread and wish you all the best with any new investments you may make out of the proceeds.