SPOILER ALERT!
Dragon Oil still eyes gas offer, prepares to expand
LONDON, Feb 23 - Oil and gas explorer Dragon Oil (DGO.L)( DGO.I) claimed it was enthusiastic of progress on a gas sales handle Turkmenistan this year however would likewise branch out right into other areas as reduced oil rates caused a 30 percent autumn in 2009 profit.
Turkmenistan-focused Dragon stated on Tuesday it would certainly use its cash balance of more than $1 billion to assist it commercialise its gas sources as well as make acquisitions to expand its possession base away from Turkmenistan.
water treatment agent claimed Dragon had attempted to start talks in 2015 with the Turkmen government to market its gas in the nation yet issues with the logistics of meeting had stood up progress.
" We have proposals that we are attempting to put on the table to begin the discussion on this," Al Kalifato told Reuters in a meeting with Reuters. "With any luck within the first half of 2010 we can make substantial progression in this field."
Evolution Stocks analyst David Farrell claimed considered that Dragon's profile included no material expedition, advantage was concentrated on the monetisation of gas and take advantage of to the oil cost.
Dragon shares were up 1.14 percent to 467.5 pence at 1114 GMT, valuing the business at 2.4 billion extra pounds ($3.7 billion).
The explorer stated pretax profit sagged to $259 million in 2009 from $369 million the previous year as sales of petroleum grew by 40 percent but profits were hit by a reduced relative oil cost.
Ordinary daily manufacturing climbed 9 percent to 44,765 barrels of oil each day (bopd) from 40,992 in 2008. Dragon claimed it would certainly target annual output growth of 15 percent in 2010 and in between 10 and 15 percent on average as much as 2012.
Dragon stated it was re-assessing whether to develop an incorporated holding firm in Bermuda, a plan that was revealed in 2014, as well as continued to be in search of purchases.
Al Kalifa stated the business would certainly consider corporate as well as property acquisitions in North Africa, the Middle East and Central Asia.
"Our vision is to be in greater than one location in the future," he stated.
Turkmenistan-focused Dragon stated on Tuesday it would certainly use its cash balance of more than $1 billion to assist it commercialise its gas sources as well as make acquisitions to expand its possession base away from Turkmenistan.
water treatment agent claimed Dragon had attempted to start talks in 2015 with the Turkmen government to market its gas in the nation yet issues with the logistics of meeting had stood up progress.
" We have proposals that we are attempting to put on the table to begin the discussion on this," Al Kalifato told Reuters in a meeting with Reuters. "With any luck within the first half of 2010 we can make substantial progression in this field."
Evolution Stocks analyst David Farrell claimed considered that Dragon's profile included no material expedition, advantage was concentrated on the monetisation of gas and take advantage of to the oil cost.
Dragon shares were up 1.14 percent to 467.5 pence at 1114 GMT, valuing the business at 2.4 billion extra pounds ($3.7 billion).
The explorer stated pretax profit sagged to $259 million in 2009 from $369 million the previous year as sales of petroleum grew by 40 percent but profits were hit by a reduced relative oil cost.
Ordinary daily manufacturing climbed 9 percent to 44,765 barrels of oil each day (bopd) from 40,992 in 2008. Dragon claimed it would certainly target annual output growth of 15 percent in 2010 and in between 10 and 15 percent on average as much as 2012.
Dragon stated it was re-assessing whether to develop an incorporated holding firm in Bermuda, a plan that was revealed in 2014, as well as continued to be in search of purchases.
Al Kalifa stated the business would certainly consider corporate as well as property acquisitions in North Africa, the Middle East and Central Asia.
"Our vision is to be in greater than one location in the future," he stated.
