Just cannot understand recent SP volatility!

As a Dana shareholder I find it difficult to
find any reason to sell, even at current price. The Company has recently
entered a number of agreements which will have
considerable benefits:-

1. Reserves from 31st December 2003 of 123.7 mmboe
must now be in the region of 200.0 mmboe.( 100 million
North Sea 70 million Mauritana 30 million Russia ).

2. Production will rise to 25-27 thousand boepd in
2005 from 18 thousand in 2004.

3. At 30th June 2004 a Net cash position which will
have been enhanced significantly year to date.

4. Exciting exploration potential.

5. Management that seem to know what they are doing
with an excellent chief executive.

6. Recent deals by other oil companies have seen oil
assets bought at prices between 7-11 dollars a barrel
( see last weeks Investors Chronicle ) Dana must have
a value well in excess of the current 300 million.

I am holding firm and looking towards 800 pence.

Any other views out there?

Saintserf

some good points, with regard to Dana, it has some very large drilling prospects outside the north sea (mainly africa) though as you say with regard to timing, the next big news is likely to be second half of the year (unless Cross has something up his sleeve for the AGM). One area where Dana are very much ahead of some of the comparators is that they are fully unhedged and have been since the oil price started its relentless climb

Doing a quick comparison between Dana and Venture's final results for 2005.
Dana profit numbers far superior on less production presumably on the hedging issue. The balance sheets are even more revealing.Venture has some large liabilities with total net assets of 134 million compared to Dana's 270 million. Presumably at some stage there will be a correction in share values or am I missing something?.

Doing a quick comparison between Dana and Venture's final results for 2005.
Dana profit numbers far superior on less production presumably on the hedging issue. The balance sheets are even more revealing.Venture has some large liabilities with total net assets of 134 million compared to Dana's 270 million. Presumably at some stage there will be a correction in share values or am I missing something?.

Hi all

bloodbath over the last few trading days, have added some more at 1038p

fund
bloodbath you can say that again, still goo hasn't moved yet.

Appointment of Technical & Commercial Director

http://moneyam.uk-wire.com/cgi-bin/articles/200605261230026619D.html

Surprising developement. Current T&C Director Andy Bostocke has a huge number of very valuable options outstanding. Suggests he has been pushed out.

From another board.
A talk with Tom Cross CEO of Dana Petroleum.

http://boards.fool.co.uk/Message.asp?mid=10024182&sort=whole

cheers Driver,

interesting but not much new news in there.

SP getting a hiding along with the rest of the market again. FTSE in dangerous territory if 5500 doesnt hold then 5200 looks the next likely target on the downside.

Still got my core holding and will add at some point when the market seems more accomodating

The sp is getting back to a more sensible level I see.

Driver

keep holding, keep smiling :-)

Oil price comfortably back above $70 a barrell now and were getting closer to the second half where we will start to get a marked increase in drilling news flow

FUND
Take a look at GTL (and todays news) it's not oil but a lot cleaner.

See Merrill Lynch have upped their target price to 1560p

rumour about today that DNX are looking to takeover VPC again

hopefully not true imo

And up we go again what a roller coaster.

Dana moving along nicely as the oil price heads into orbit.
Whilst the takeover rumours regarding VPC are complete nonsense I believe a more realistic outcome may well be Gaz de France taking over Dana.

Remember you heard it here first.

;o)

Ian

Ianayel

Second. Read Post 187

Nice one church

POST 187
I would not be surprised if we received a takeover approach. In my opinion for what it is worth Dana would make a perfect fit for at least two companies Gaz de France and Tullow.

Churchill2

Apologies - did not read the earlier posts.
I only posted after chatting to a couple of people last night.

However the crux of the matter is that I believe Dana is now definately 'in play'

Should be fun in the next few weeks.

Ian

Ian

You are forgiven. I never hold a grudge.