Stocktube video
19/04/2012

Dragon Oil CEO says it’s going for growth

View full size
Additional Information
Market: LSE / ISE
Sector: Energy
EPIC: DGO
Latest Price: 520.00p  (-0.19% Descending)
52-week High: 656.00p
52-week Low: 387.75p
Market Cap: 2,661.37M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Dragon Oil
www.dragonoil.com

Dragon Oil is an independent international oil and gas exploration, development and production company.  Our principal asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan. The Group’s headquarters are located in Dubai, United Arab Emirates. Dragon Oil had proved and probable oil reserves as at 31 December 2009 of 617 million barrels and 3.1 trillion cubic feet of gas resources.

Pdf

Dragon Oil reports further successful well test in Caspian Sea

19th Jan 2012, 7:26 am by Andre Lamberti One of the rigs Dragon Oil is using in the Cheleken cpntract area offshore Turkmenistan

Dragon Oil (LON:DGO) reported another successful well test in the Caspian Sea today, after the Dzheitune (Lam) 13/163 development well flowed at a rate of 1,584 barrels of oil per day.

This is a massive improvement over the initial flow rate achieved in December 2011 and follows a subsequent re-completion of the well.

Only last week, Dragon had reported successful completion of two other wells of the Cheleken contract area offshore Turkmenistan, Dzheitune (Lam) 13/140A and Dzheitune (Lam) A/165.

The company exited 2011 with a production rate of 71,751 bopd and the news so far this year bodes well for 2012 production figures.

Rig 40 has now skidded to the Dzheitune (Lam) 13/144B well to work it over.

Chief executive Dr Abdul Jaleel Al Khalifa said: "I am pleased to report that the flow rate from the Dzheitune (Lam) 13/163 development well has improved significantly after we added perforations at different reservoir intervals.

“We constantly seek to optimise production from existing as well as new wells using a range of techniques and it is satisfying to see an immediate positive impact on our production."

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.