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?

Mauritania: exploration drilling update - Block 8

The Atwood Hunter drilling rig spudded the Flamant-1 well offshore Mauritania in
Block 8, at 1:15am on 11 August 2006. Over the last 48 hours a pilot hole has
been drilled to a total depth of 1,905 metres to check for shallow gas and
preparations are now underway to drill the main well bore.

Flamant-1 is targeting a large Cretaceous Carbonate platform/reef prospect in an
area of different geology to the rest of the offshore Mauritanian basin, which
holds significant potential, primarily for gas, and is recognised as the best
test of a large regional high with both primary and deeper secondary objectives.
Water depth at this location is approximately 1,400 metres.

Equities in Block 8 are:
Block 8
Dana Petroleum (Operator) 41.5%
Hardman Resources Ltd 18.0%
ROC Oil Company 2.0%
Wintershall 25%
Gaz de France 13.5%

Times and dates for Mauritania wells refer to GMT (Mauritania time), 8 hours
behind Western Standard Time, Perth.

More good news flow this am though clearly the flamant results are going to be key to the SP in the short term

On all accounts Bridgewell downgraded DNX this am

whatuwant

the 3 yr chart is even nicer :-)

3 bagger - nice !!

Not holding myself but am looking for a solid O & G play......

whatuwant

dnx has been core holding for me for quite a few years, most purchased at just above 200p with various top ups along the way

take a look at the fundamentals because they are very strong and there is a lot of drilling news due this second half of the year. Last yrs results (and this yrs interims) give good detail of the growth the company is undertaking.

these have always been a long term hold for me and will be for a few years at least i expect, mainly due to the balance they have between exploration and production and a solid management team. the current production side all but underpins the SP so most of the exploration is "in for free" currently, they also have the benefit of bieng completely unhedged on the oil price (so are getting full value for the recent price rises)

Could you please give me a brief synopsis of the news due for the rest of 2006 and maybe the start of 2007.

I am researching DNX now but it is slow progress.

TIA.

Fund
I see you have been busy on here or dnx have still finding more oil, still holding and happy to do so.

Any views on the Mauritanian Energy Ministry messing with the Production Sharing Contracts ( PSC ) in which DNX are involved ?

whatuwant
fund is the expert on this stock he holds and follows the news I just hold and see 20 soon I hope.

Comparison with Burren, Socco & JKX:

Please correct me if I have left something out:

North Sea Production & Development forth coming news:

* Goosander - 1st Oil Q3 2006
* Otter - 2 well work overs in progress since April 2006
* Cavandish - Commence production Q4 2006

whatuwant

upcoming news:

verification of the asset exchange deal with gaz de france
drill results from Flamant (potential for gas in place exceding 6 trillion cu ft)
jv exploration in Kenya with Woodside (pomboo L5 and Sokwe L7 - both potentially over 1 bn boe)
production to come on stream from cavendish and enoch (north sea)
7 additional new north sea fields being targeted (monkwell, barbara, babbage and gunn - gas, melville, grouse and christian - oil)
large amounts of infill drilling in north sea
faucon drilling in mauritania


this is not a conclusive list, from the last set of results, a total of 40 wells are planned by the end of 2008

whatuwant

Goosander has already come on stream (see RNS 8/8/06)

Driver

thanks for the compliment, but im by no means an expert but do follow the news closely - 20 would be nice mid term :-)

Thanks Fund - I am only going through the Website at the moment, will check results & news this afternoon.

Afternoon all,

I don't normally follow DNX - which is why I'm mortified to find that this has bounced 50% in the last couple of months and I missed it!

I thought today's drilling news from the North Sea looked particularly encouraging, given the potential worth of the oil recovered and was slightly surprised to see the SP dip as in many cases one would view the additional production as being company-making.

Am in HNR since I changed my view to "Buy" last week and am hoping for success on Flamant and Faucon, etc. Good luck to all DNXers.

ST.

ST

thanks for your good luck wishes, tend to keep and eye on HNR also.

the rise from the low is impressive, though a lot was recovering the overreaction on the downside when the markets stalled earlier this yr. dnx is certainly a good one to have tucked away with the forthcoming drilling program and with production due to be doubled by 2007

i guess were prob 2 or 3 weeks away from flamant news now - fingers xxx'ed

this post is for those who don t follow Dana closely.
The present well being drilled (Flamant) has already been surveyed (by Offshore Hydrocarbons Mapping) and Dana know that there is something down there.
Most probably Gas Condenstate, it now depends on how much there is.
Dana said this could be a company changing well !!
They also said this about the last well, same set up, contained gas condenstate but not enough to be either company changing or could be only be of any value if another find close by. Interesting a big trade went through last night at above market price. Anyway we will soon know.
best regards

Id guess still a couple of weeks away from drills results on flamant.

surprised not to have heard anything more on the Gaz de France asset swap deal as in effect this has to occur before the drill results if it is to proceed

funda
yes towards the end of next week (unless there any more problems) you should know if there is anything worth testing
best regards