Dragon profits down 37%

Dragon Oil has announced a 37% drop in profits to €105m for the first half of the year.

The company said it was likely to miss its production growth target for the year due to "operational issues" at several wells.

Dragon is talking to majority shareholder Emirates National Oil Company (Enoc) about a possible takeover bid.

Dubai-based Dragon, which has a stock listing in Dublin, said its profits drop was down to lower oil prices.