AGM presence identified confident view of some who should know that true values is nearer 500 taking into account all known reserves. Today might be the start of the move .........hopefully.

I now own 20,000 shares in Dana and have built this up with caution over the last 9 months by buying when the have fallen. The last 6 months have seen the company in some speculative links with other companies but now they look very solid on their own. I expect a little profit taking mid next week and then 350p by August- course I would say that!! 500 would see me in good profit but I am not that optimistic and oil prices will affect this price. If they get to 380 before October I will sell all my shares cos I am not greedy.
Do your own research. T.

As a Dana shareholder I find it difficult to
understand a 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.

2 of the directors have made significant share purchases recently as well, and PE is very low for the sector.