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?

Hardman says drilling started on Aigrette-1 well, offshore Mauritania
AFX


LONDON (AFX) - Hardman Resources Ltd said drilling started on Oct 7 on the Aigrette-1 exploration well in Block 7 offshore Mauritania, West Africa.

The well has so far been drilled to 1,838 metres of its planned total depth of 4,925 metres.

Dana Petroleum is operator of Block 7 with a 36.00 pct stake, Gaz de France holds 27.85 pct, Hardman has 16.20 pct, Woodside Petroleum holds 15.00 pct and Roc Oil Co a 4.95 pct holding.

MAURITANIA DRILLING UPDATE

http://moneyam.uk-wire.com/cgi-bin/articles/200610090700131405K.html

any press comment re yesterdays rise??
it was picked on http://www.chart-breakouts.co.uk
but apart from that i can't find anything.

BBJ

had a good look around but not found anything.

Yesterday there was a takeover rumour circulating saying 1780p takeout price.

Sector was very bouyant on a lot of takeover rumour, Burren up more than DNX and Cairn and others very strong too.

Expect we may see something in the next few weeks

cheers fundy

Recommended to hold @ 1294p

From a finance Web Site.

Following our re-recommendation of Dana two
issues ago, it was pleasing to see it releasing a perky
AGM statement, which noted that average production
should be between 24,000-27,000 barrels oil
equivalent per day (boepd) this year, nicely ahead of
the 19,683 boepd achieved in 2005. The company
also expects to exit 2006 at over 33,000 boepd and
remains on track to hit 40,000 boepd by the end of
2007. Danas upbeat tone reflects its expectation that
two new fields, Enoch (oil) and Cavendish (gas), will
start producing before the year is out while a third,
Goosander (oil), has just commenced production.
Other highlights include a new gas discovery
the E18-DF) in the Netherlands, while a key
appraisal well testing the Babbage gas field, where
pre-drill estimates are for 390 billion cubic feet
(65m barrels), is ongoing. Danas international
exploration program will commence in Mauritania
this August starting with its Flamant prospect (up to
1.5 trillion cubic feet), while a separate rig will start
a two well campaign in Kenya at the end of the year.
Dana plans to give more specific production
guidance for 2006 when it reports interim results in
September. The shares have hit new highs recently;
continue to hold.1294p

nice blue day today on the back of a sell recomendation from the Chronic Investor :-)

Fund
Hi, have you got any views on ser I'm down at the moment but not worried. Have a look at the link

http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:1166407248&feed=oilbarrel_en

haven't followed this share, though i always thought it a good company ...... for what it's worth, sp has niow poked its head above 50 dma ....... unless IC had something trenchant to say, i see no reason to sell, though prob no reason to buy as <10% from high which it has failed to break through twice




red = 50 dma
green = 200 dma

cynic
Ive never seen a reason to sell what ever the chart says been holding since 120p

cynic

from a TA perspective, its a short term neutral chart, long term its in a strong uptrend.

Current reasons to hold/buy for me are based on the fundies, predominantly the production increases in the north sea taking it to 40,000 boepd end of 2007, the potential from an expansive drilling campaign across the next few years (Kenya the next big announcement i expect) and the cash generation and growth and reinvestment of this cash (usual through purchasing more north sea assets). Also would expect news on the Gaz de France deal (though this has been dragging its feet).

Like Driver have been holding this for approx 4 years and see no reason not to continue to do with he potential upside being far greater than any downside. Also like others I expect there to be a fair bit of consolidation in the oil sector over the next year or two and DNX could be either predator or prey

can't disagree with you .... for my sins, i hold TLW and BUR for similar reasons, and that is sufficient for me ...... and as i keep telling everyone, i am also a fan of PFC which keeps coming up with the goodies month after month

Against my better wishes i sold out yesterday, just too much downward pressure on the oil price currently and the P&F chart gave a very strong sell signal. Support at 1130 is struggling to hold and without any good drill news and a continuing weak oil price, P&F chart shows a potential fall back to 900p.

Still like the long term outlook but hard to hold against weak oil prices. I will get back in just a question of timing, if i miss a positive drill result ill just have to take it on the chin as the risk reward balance isnt right for me currently

">

North Sea Asset Exchange 5 January 2006

http://moneyam.uk-wire.com/cgi-bin/articles/20070105152426M0716.html

Don't hold here, never have and always wanted to!

Now then the word is that is pomboo and sockwe are dusters the sp may visit 10 again, conversely if either is a success, then the reverse may happen and it may visit 16 to who knows what.

Not very inspired I know, but I would add that the JVP are drilling in proven areas it's just a matter of hope that either prospect has oil or at worst gas.

Marathon and Shell drilled within the license areas in the 1950's and 1970's.

As you all so rightly say if you are LTBH who cares what turbulence there is in the market place?

Mind you I would only apply that theory to decent oilers like BUR DNX TLW, I suppose I should include BP. and RDS, but I am not really inclined to.

Good luck with those drills I have highlighted, I may benefit indirectly if they come off, as I have AEX who have some part of licenses next door at L11 & 12 and any result by rights should impact either way but with less force.

Petrel Resources (PET) Asked if nationalistic Iraq, resenting the US & global oilcos, is grooming PET into
a "BIG BEAST". DH replied: "that is exactly what is happening"

Oil Down And Out Not Likely

http://www.fatprophets.co.uk/content.aspx?page=OIL%2c+Fat+167

FUNDY ..... not as pessimistic as you, though i c from where you got your support ..... much more simplistically, one could also argue support at about 1100, again at 1000, and of course at 900

Elliott Wave Analysis 04-Jan-2007 Crude Oil

http://www.youtube.com/watch?v=8LoUPapbyEU&mode=related&search=

Rogers Says Oil Will Rise to $100 After `Correction' (Update6)

http://www.bloomberg.co.uk/apps/news?pid=20601109&sid=azQIiqfEPt8g&refer=home

cynic

not pessimistic as such about the companies prospects just where the markey may take it on falling oil prices, any closer to 1000p and ill be looking to start to buy back in, cant see oil going much below $50 and certainly only short term if it does

VPC trading update last week gave a good guide to how some of the north sea oil fields that dana have a share in performed