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 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 :)

Aye thats true.

Looking cheap and oversold again following Cazenove's "in-line" markdown.

Incredible all oil majors are down and yet the poo is increasing towards $95.

production levels of 50000 barrels per day next year all going to plan.

That's good news this morning, with an oil find at Kerloch Well in North Sea. Onwards in 2008.

The Kerloch news last week is certainly helping the sp.

All oils racing ahead today including Tullow and Dana.

Thats quiet an impressive break out can see 1500p very soon if this and 1800p in a couple of month.

Nice to see another good move higher indeed. More in the coming months imo.

Its catch up time Greyhound and about time too.

Has been tipped again today that usually puts 30% on by the next 3 months..

Morning Mitzy - where? Also interesting read in FT today about small/mid-cap oil. With Burren's bid latter part of this year, who knows what price effects we might see here in the coming months.

Morn Greyhound

It was firstly tipped in TMI as one of 2008 naps and also today on the interactive site...I find that the Tmi tips usually add 30% before falling back in the year.. cheers.

Norway granted a group led by Marathon Petroleum Co. a North Sea drilling permit. Dana has 25% interest.

I see that the Investors Chronicle jinx is at work again, sharp drop.