SPOILER ALERT!
Dragon Oil still looks at gas offer, intends to branch out
LONDON, Feb 23 - Oil and also gas traveler Dragon Oil (DGO.L)( DGO.I) claimed it was hopeful of progress on a gas sales handle Turkmenistan this year however would additionally branch out into various other areas as lower oil rates resulted in a 30 percent fall in 2009 profit.
Turkmenistan-focused Dragon stated on Tuesday it would certainly utilize its cash balance of greater than $1 billion to aid it commercialise its gas resources as well as make acquisitions to diversify its property base far from Turkmenistan.
President Abdul Jaleel Al Khalifa said Dragon had actually attempted to start talks last year with the Turkmen federal government to sell its gas in the nation yet problems with the logistics of conference had actually held up progress.
" We have proposals that we are attempting to place on the table to begin the discussion on this," Al Kalifato informed Reuters in an interview with Reuters. "With any luck within the very first half of 2010 we can make considerable development in this area."
Evolution Stocks expert David Farrell claimed considered that Dragon's profile consisted of no product exploration, upside was focused on the monetisation of gas as well as take advantage of to the oil price.
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).
water treatment chemicals suppliers stated pretax revenue plunged to $259 million in 2009 from $369 million the previous year as sales of crude oil grew by 40 percent however profits were hit by a lower relative oil cost.
Ordinary daily manufacturing climbed 9 percent to 44,765 barrels of oil daily (bopd) from 40,992 in 2008. Dragon stated it would target annual output growth of 15 percent in 2010 and between 10 as well as 15 percent typically as much as 2012.
Dragon claimed it was re-assessing whether to develop a bundled holding firm in Bermuda, a plan that was introduced in 2014, and also continued to be in search of procurements.
Al Kalifa stated the business would think about company as well as possession acquisitions in North Africa, the Center East as well as Central Asia.
"Our vision is to be in more than one area in the future," he claimed.
Turkmenistan-focused Dragon stated on Tuesday it would certainly utilize its cash balance of greater than $1 billion to aid it commercialise its gas resources as well as make acquisitions to diversify its property base far from Turkmenistan.
President Abdul Jaleel Al Khalifa said Dragon had actually attempted to start talks last year with the Turkmen federal government to sell its gas in the nation yet problems with the logistics of conference had actually held up progress.
" We have proposals that we are attempting to place on the table to begin the discussion on this," Al Kalifato informed Reuters in an interview with Reuters. "With any luck within the very first half of 2010 we can make considerable development in this area."
Evolution Stocks expert David Farrell claimed considered that Dragon's profile consisted of no product exploration, upside was focused on the monetisation of gas as well as take advantage of to the oil price.
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).
water treatment chemicals suppliers stated pretax revenue plunged to $259 million in 2009 from $369 million the previous year as sales of crude oil grew by 40 percent however profits were hit by a lower relative oil cost.
Ordinary daily manufacturing climbed 9 percent to 44,765 barrels of oil daily (bopd) from 40,992 in 2008. Dragon stated it would target annual output growth of 15 percent in 2010 and between 10 as well as 15 percent typically as much as 2012.
Dragon claimed it was re-assessing whether to develop a bundled holding firm in Bermuda, a plan that was introduced in 2014, and also continued to be in search of procurements.
Al Kalifa stated the business would think about company as well as possession acquisitions in North Africa, the Center East as well as Central Asia.
"Our vision is to be in more than one area in the future," he claimed.
