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Dragon Oil - Partner in consortium to develop Iraq

August 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • DGO
  • Price:
  • 599.5p
Dragon Oil has reported a flow of drilling news at Dzheitune (Lam) since our last update. These have had a high strike rate and this nicely supports the credibility of Dragon's stated aim to grow production from around 70,000 bopd to 100,000 bopd in 2015 and to remain at least at that level for a period of 5 years.Outside of Turkmenistan Dragon is in a frenzy of activity. Rumours abound that it is bidding for contracts in Afghanistan. It’s no stranger to operating in hostile regions and separately has also emerged as a partner in a winning consortium seeking to develop new oil and gas fields in southern Iraq. The consortium including Kuwait Energy and Turkish national oil company TPAO, has been successful in obtaining the explor ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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