Dragon Oil

JAMM222

i have very little money to invest in the stock market and i am looking for something that will give me a return over the next couple of years. I recently opened an online account with Share watch and bought a few inm shares(reckon now that O Brien is in so deep i will get a return). I have 250 euro in the account at the moment and am thinking of buying around 90 shares in dragon oil and continuing to buy shares in them over the next few months until i have around 1000 shares. I dont know much about the market but have done some research on Dragon oil. They reckon the will have 15% growth between 2009 and 2011, the potential of securing a fourth rig on a short term lease and their gas production seems to be growing at a fair pace. What i am wondering is does anyone else have any thoughts on Dragon Oil and should i put my money elsewhere?(please dont mention the banks as an option!)

cheers

MrMatisse

I think Dragon oil are moving there primary listing to London and listing in the US also which should improve the liquidity in their shares and make them known to more investors.

baldeagle1999

Hope you bought DGO at the time of your original posting as they've done pretty well over the past few weeks.

Bought a few myself as some of the news articles out there make interesting reading

Quote: The Caspian country, which exports most of its gas to Russia, is keen to open up its oil and gas resources to foreign energy companies as it seeks to diversify its economy.
The government official told Reuters that foreign direct investment, mainly from companies operating under production sharing agreements with Turkmenistan, was expected to rise to $4 billion in 2009 from $2.2 billion last year.
The government official told Reuters that foreign direct investment, mainly from companies operating under production sharing agreements with Turkmenistan, was expected to rise to $4 billion in 2009 from $2.2 billion last year.
"The Caspian Sea shelf remains a priority in terms of foreign investment," the official said, adding the government was in talks with BP Plc, Chevron Corp as well as Russian gas producer Itera on various investment projects.
The official did not elaborate on the projects. The companies were not immediately available to provide details.
Turkmenistan produces about 75 billion cubic metres of gas a year and sells about 50 bcm to Russia's Gazprom. It also has significant reserves of oil and wants to take part in the Nabucco gas pipeline project to Europe.
Last year Britain's Gaffney, Cline & Associates classified a Turkmen gas field as one of the world's biggest, boosting the country's position as a potential new investment destination.
Western companies has been keen to develop closer ties with the ex-Soviet republic since President Kurbanguly came to power in late 2006. Among those already doing business in Turkmenistan are Dragon Oil, Malaysia's Petronas and others.
Chinese and other Asian companies have also shown interest as Berdymukhamedov has promised to attract more foreign investment and improve the country's business climate.