Disruptive Investor
Long/short equity, deep value, event-driven, macro

Dragon Oil: Enter The Dragon

Dragon Oil (OTCPK:DRAGF), which is an independent oil and gas exploration company, is a grossly undervalued stock with a robust growth outlook. This investment note discusses the current operations, potential stock upside catalyst and the valuations. The investment arguments and valuation points to a potential doubling of the stock with a 1-2 year time horizon.

Dragon Oil's principal producing asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan. The company has operations in the Cheleken Contract Area under a production sharing agreement granted for a period for 25 years starting from the year 2000. Over the last 12 years, the company has invested $2.6 billion in Turkmenistan and is one of...

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