Dragon Oil Share Discussion Threads

[hopeful holder] 25/8/2015 11:09

Richard. Where are you looking at investing if you don't mind the cheeky question. .?I've pondered shell and BP but I expect dividends may be lower and the share price to fall given the now low returns in the current market.

[richardbroughton] 25/8/2015 10:07

I agree with you guys, this has been very good for us, as saget says DGO would be around £4 now, we are insulated from the carnage and will have cash , aint got mine yet, to invest at good prices and yields. All the best, Richard

[blakieboy7] 24/8/2015 19:25

Under the current circumstances I am grateful for the ENOC takeover!! The share price would have been decimated otherwise

[saget] 24/8/2015 14:42

Oscarino - don't be bitter... It means ENOC wins.
In fact be happy as Hopeful Holder says.

DGO would be sub £4 in the current market what with Brent less than $45.
If ENOC had delayed the offer until now, I suspect most of the institutions would have gladly accepted £6 in the face of the wider stock market meltdown.
I guess ENOC will be kicking themselves.

[hopeful holder] 24/8/2015 14:28

Given the global oil prices and the China economy, I'm feeling much happier about the 8 quid in the short term.

[oscarino] 24/8/2015 10:39

Thanks Fido,
I initially bought them when they were known as Oliver Resources for 4p and then a few months later at 2.5 p and have had held them ever since. Then when they introduced ISA's i started buying them on a regular basis with my last purchase about 6 months ago. Sadly i never got round to transfering the original ones i bought into an ISA so will have to stump up a considerable amount of CGT. I still feel extremely bitter about the ENOC takeover but there is at least some comfort in knowing that with the markets and oil taking a huge drop at least i'll have cash to invest at the bottom. I just hope i can get the timing right.

[fido] 21/8/2015 22:08

oscarino,
Looking back at the annual reports going back to 1995.
In April 1996 there was a placing and open offer at 1.5p a share.
In June 1997 there was a rights issue at 2.0p
In September 1997 the shares were consolidated 25-1.
_____________________________________________________

RNS No 8430d
DRAGON OIL PLC
24th July 1997


DRAGON OIL PLC (Dragon or the Company)

Dragon announces that its Rights Issue to raise approximately Stg#65 million,
before expenses, has been successfully completed. 91% of the shares
provisionally allotted were taken up by Qualifying Shareholders or renouncees.

3,248,906,962 New Ordinary Shares were issued at a price of Stg2p per New
Ordinary Share on the basis of three New Ordinary Shares for every five
Ordinary Shares held.

The New Ordinary Shares not taken up by Qualifying Shareholders were sold in
the market at a price of Stg2.25p, a 12.5% premium over the issue price and
this premium, net of commission, will be distributed pro rata to the
provisional allottees originally entitled thereto, who have not taken up their
entitlements, except that individual entitlements of less than Stg#3 will be
retained for the benefit of the Company.

__________________________________________________________



RNS No 2675m
DRAGON OIL PLC
29th August 1997


DRAGON OIL PLC

Dragon Oil plc today announces that effective from 8.30 a.m. on 1 September,
1997, in accordance with the terms of the consolidation of share capital
approved by Shareholders on 29 July, 1997, the consolidation of the Companys
share capital on a 1 for 25 basis has taken place.

There are therefore 347,154,953 consolidated ordinary shares in issue at a
nominal value of IR25p. In addition, there are 9,845,214 consolidated
warrants listed, at an exercise price of Stg41.25p.

Dealings in these consolidated ordinary shares and consolidated warrants will
commence in both certified and uncertified form at 8.30 a.m. on 1 September,
1997.
_____________________________________________________

As a PS, it was part of the placing in 1996 that £37.5m was raised by the issue of 2,500,000,000 shares at 1.5p a share to an Indonesian investor who subsequently sold his stake to ENOC at 15p a share( post consolidation), because of a conflict of interest issue.
At no stage has ENOC put money into Dragon.

Hope that helps.

[fido] 21/8/2015 21:41

oscarino,
There was only the one consolidation as far as Dragon is concerned and that was the 25-1 back in 1997 as already stated.

[oscarino] 21/8/2015 18:51

Thanks HH. I was sure there was one other consolidation earlier than that. Hopefully Fido might be able to answer that for me.

[hopeful holder] 21/8/2015 15:50

My replacement cert shows 1 at Sept 1997.

[hopeful holder] 21/8/2015 15:49

In 1997 dragon had a 25:1 consolidation. Price was about 3 pence prior and 75 pence after. I was not holding prior so unable to help earlier than mid 1997.

[oscarino] 21/8/2015 12:36

HELP ! Capital Gains nightmare!

Does anyone here remember how many share consolidations have occurred since 1992
when they were known as Oliver Resources and what date the consolidations occurred ???

[whitebicycle] 20/8/2015 21:33

Cheque came today and banked. A 20 bagger. The IFA said if it is below the Capital gains tax limit there is nothing to declare.
You've at least 8 months to sort it out.
I surmise most of us are on self assesment, it's not going to be a problem until 2016.
Self assesment is online now it wont allow you to submit a return that is errored, mine came with a £1250 refund and my tax code going up to 1623.

[zingaro] 20/8/2015 15:03

zedman - if the gain is less than £11,000 you may need to notify HMRC of the gain, this when the proceeds of a disposal equal 4 times or more the annual exemption, which is currently £44,000. That for 14/15.

[zingaro] 20/8/2015 15:01

zedman

If you have capital gains, you may have to fill in the capital gains pages. You do not have to fill them in if the total disposal proceeds in the 2013/14 tax year were less than £43,600 and your chargeable gains (before losses) were below £10,900.

[zedman_1] 20/8/2015 13:26

Many thanks HH/Saget: no I have not traded any other non ISA shares. No losses. I have no other non-ISA wrapped shares and the trade wasn't over 4 times allowance.

EDIT: taken your suggestion HH; according to the HMRC website:

If you don’t have anything to report:

A.If you’re not registered for Self Assessment you don’t need to do anything.

B.If you’re registered for Self Assessment you must still fill in the capital gains section of your tax return. To do this:

Confirm that you need to complete the capital gains section in ‘Tailor your return’.
In the ‘Details of chargeable assets…’ page select ‘No’ for each question - you won’t need to report anything else about your capital gains or losses.

[hopeful holder] 20/8/2015 12:57

If you already do tax return then yes you declare trade but zero in tax box

[saget] 20/8/2015 12:56

zedman_1 - as far as I know, it is only when your capital gain exceeds the threshold that you will be liable for either 18% or 28% CGT (depending on your tax band) on the amount above the threshold.

[hopeful holder] 20/8/2015 12:56

Also depends if your dgo trade is over 4 times annual exemption allowance. If so.. I believe you need to declare. But I'm no expert.Best suggestion us to look it up on government website and use helpline if in doubt.

[hopeful holder] 20/8/2015 12:54

Depends if you have losses or traded other shares.

[zedman_1] 20/8/2015 12:50

HH or anyone: I have a few DGO shares that are not ISA wrapped. The capital gains on these are just below the threshold. Do I need to declare them on my Tax Return? I have no other capital gains, nor expect any this year.

[hopeful holder] 20/8/2015 10:20

Www.cgtcalculator.com Some might need this

[hopeful holder] 20/8/2015 10:18

Blakie. I didn't do anything with self trade as I had forgot my login details and was out of the country for a few weeks. They posted new pin but to home.Self trade therefore accepted as default. I'm awaiting iii monies. Post cost me money as I wanted to track and trace it. As a thought. .. I copied all my certs I posted so if they go missing I have a copy...