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?

SP very strong and out of line with the other mid cap E&P cos today, currently up 5% on decent volume

Todays RNS appears to be a good peice of business for DNX . What with the fields yield in excess of 11,000 bbpdoe it wont take very long for the considerstion DNX paid to be returned manyfold . l suspect will fly today as this news is the very thing the market likes in an oil junior -increased reserves !!! Must put s/p up by at least 5-7% depending how much is already factored into current s/p which appears upon scrutiny of recent trading to have been already half done. @+ J

A new low whats happened to DANA.

Driver, The company says the fundamentals have not changed. The Norwegian deal is on track and so is the drilling of the Grouse field (Venture is the Operator) I hold with the expectation of a positive news flow over the next few months. At the AGM on 25th July it was pointed out that the recent deals in Norway and Egypt are a step change for the company about which they are excited. The company does not court the City or analysts as some other oil explorers do. Merrill Lynch has a "Buy" rating and 16.00 price objective in a note dated 13th June.

I see this breaking higher finally. It's been a lacklustre couple of years but now I think that will change and we're due a period of catch up.

I am guessing 1800p Greyhound.

Not beyond the realms of possibility of a takeover target too.

Up 70p in a day just great .

Broken all time highs, clear of 14 and we're off...

Agreed once we have cleared 1400p its all the way to 1600p plus.
And the ironical thing is that w are only 15% up on the year..!

Granby Oil and Gas increase interest in appraisal Monkwell gas field

another up day today.. nice.

Nicely breaking into new territory now. Fun times ahead.

certainly looking that way greyhound..

We're on our way, this has a rocket behind it at the moment. I don't see any news or broker upgrades??

Real catch up time now. Dana is up approx. 16% on the year. Compared to others it's cheap:-

Tullow up 70% ytd
Cairn 41%
Burren 43%
Soco 62%
Dragon 83%

Hi Greyhound, Mitzy: I'm sure I read something about a poss bid - but I guess there's always that in the background. Just can't find where I saw it though, sorry.

Found it:

From The Times, 14October:

"Burren has so far rejected Enis bid, but its future as an independent will probably be over if a counter-bidder or higher offer emerges. Other companies must be on bid alert, including Premier Oil, which received a takeover approach almost a year ago. The pick of the bunch are probably Dana, Soco and Tullow. The bidding battles will be fierce, and it is time to buy in."

Oil Sector set for new spate of takeovers

Nothing Toya thats the strange part.

Mitzy: see above - must have been posting at the same time. Nothing new as such, but does specifically mention Dana Petr and others