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?

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

I remember they buy Dana and Soco and Venture as well.
I buy VPC 2 years ago and the share price is flat unlike Dana.

Thanks Toya, I do recall reading that. Definite potential there on the bid front too.

Very odd looking at the intraday charts for both DNX and PMO - mirror images!

I might have mentioned a while back that I think they are worth 1800p a share.

At least 1500p anyway..!

Meanwhile Venture productions is looking very cheap.

Mitzy - we all dream :)