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?

RNS Number:2147L
Dana Petroleum PLC
19 April 2005


Dana Petroleum plc
("Dana", "the Group" or "the Company")

First Oil Production from the Gadwall Field

Dana is pleased to announce that oil production has successfully commenced from
the Gadwall field. Initial rates are in line with expectations. Gadwall is
located in Block 21/19 within the Greater Kittiwake Area ("GKA"), in the Central
North Sea.

Gadwall is being developed as a sub-sea tie back to the Kittiwake platform
utilising a single producer/injector pair of wells. The discovery well on the
Gadwall field, 21/19-6, was originally drilled in 1996 and suspended for
subsequent re-use. The suspended well has now been completed as an oil producer
using the Sedco 704 rig. Following a period of early production, it is
anticipated that a water injection well will be drilled in the fourth quarter of
2005 to provide reservoir pressure support from early 2006 onwards.

Estimated gross proven and probable recoverable reserves for the Gadwall field,
in which Dana holds a 50% working interest, amount to 6.4 million barrels of oil
and 4.3 billion cubic feet of gas.

Tom Cross, Chief Executive of Dana commented:

"Gadwall becomes Dana's tenth producing field in the UK and eleventh for the
Group as a whole. Elsewhere in the North Sea, Dana is currently driving ahead
with four new field developments and expects to conduct appraisal drilling on a
further five fields before the end of 2006.

Overall, Dana has rigs contracted to drill six exploration and appraisal wells
in the North Sea in 2005. The first of these, drilled last month, discovered
the Melville oil field adjacent to the Dana operated Hudson oil field."

10 May 2005

Global Petroleum Ltd ('Global')

Drilling Programme in offshore Kenya

Woodside Energy Ltd (50% and operator in L5 and L7) has advised that due to a
worldwide shortage of suitable deepwater drilling vessels, it looks unlikely
that a drill rig will be able to be sourced in time for drilling in the 4th
quarter of the year. The high demand for deep water rigs is driven by the
increase in oil and gas exploration being undertaken around the world as a
result of high oil prices.

Woodside is actively seeking a drill rig for Kenya drilling and has indicated
the second quarter of 2006 as a likely drilling date of the first well which is
presently targeted to be in Block L-5.

Global has a 20% equity interest in Blocks L5, L7 and is fully carried for the
cost of two wells. Global also has a 20% equity interest two other Blocks, L10
and L11

RNS Number:7743M
Dana Petroleum PLC
26 May 2005


PRESS RELEASE


DANA PETROLEUM PLC ("Dana" or "the Company")

Dana Acquires Exploration Rights Offshore Morocco

Dana Petroleum is pleased to announce that it has acquired the rights of Global
Resource Holdings, LLLP in respect of a 35% interest in a Reconnaissance
Contract covering the NW Safi area offshore the Atlantic coast of Morocco. The
contract covers a large area spanning 6,645 square kilometres with water depths
ranging from 300 to 3,000 metres. The remaining 65% interest in the
Reconnaissance Contract, originally awarded in April 2004, is held by the
operator, Norsk Hydro.

Tom Cross, Dana's Chief Executive, commented:

"This new venture builds on Dana's strong exploration position offshore West
Africa where we already hold important interests across Mauritania and Senegal.
Being relatively under explored, offshore Morocco offers significant potential
which Dana is looking forward to pursuing in partnership with Norsk Hydro and
ONHYM, the Moroccan national oil company."

Gav

thats about it for the articles i have kept for DNX (excl broker notes which i assume youve seen)

Still waiting for my copy of this years full set of results. Date for AGM should ne known soon

also, the website is very helpful:

http://www.dana-petroleum.co.uk/

Gav

just emailed the company re annual report/the agm - got this instant responce:



Dear Mr xxxxxxxxx,

Thank you for your email. The Report will be available at the end of June. I will add your details to my list and send you a copy.


The AGM is being held on 28th July at The Marcliffe Hotel in Aberdeen starting at 10.30am.

Yours sincerely,

Sara Rounce
Communications Coordinator

Fundy,

Many thanks for the posts, most informative and helpful of you. Not been around much over the last few days so missed the recent action, looks quite strong here just now, as do a few others.

Had a decent look around the website, it's quite good and easy to use. Ordered my copy of the 2004 accs earlier this week and like you, was told later this month. Going to read through your posts and the RNS's in more depth this weekend. I do like what I see here though, and with the way the oil price is behaving just now it aint gonna do any harm for us oily's! :-)

Thanks again.

Gav

Fundamentalist
Thanks for all your latest research, very helpful.

Dana there she blows.

Gav / driver

vested interest - good to re read a lot of the info i had stored again.

nice to see the sp positive again, hopefully will stay strong in the run up to the agm

Dana Petroleum PLC
20 June 2005



PRESS RELEASE


DANA PETROLEUM PLC ('Dana' or 'the Company')


Dana Increases Stake in Barbara Field Area and
Confirms Drilling of next 4 North Sea Wells


Dana Petroleum is pleased to announce a number of recent commercial tranactions
and operational events which have enhanced the Company's near-term North Sea
exploration and appraisal programme.


Firstly, Dana has agreed a farm-in with Shell U.K. Limited and Esso Exploration
and Production UK Limited, an ExxonMobil subsidiary. Under this agreement, Dana
will drill a well in an area of UK North Sea Block 23/16b into which the Barbara
gas-condensate discovery is mapped to extend. The well will appraise the extent
of the original discovery made by Dana and its coventurers with the 23/16c-8
exploration well in the neighbouring block. In return for drilling the well,
Dana will be assigned a 50% interest in, and operatorship of, the Barbara
extension-area within Block 23/16b.


Secondly, Dana has agreed a two-for-one farm-out to Endeavour Energy UK Limited
('Endeavour') whereby Endeavour will fund 40% of the cost of an exploration well
to test the Fiacre prospect in UK North Sea Block 23/11, which lies directly to
the north-east of the Barbara field. In return, Endeavour will be assigned a
20% interest in the Fiacre sub-area of Block 23/11, which specifically excludes
the mapped extension of the Barbara field into 23/11. Dana will therefore pay
40% of the Fiacre well cost whilst retaining a 60% interest in, and operatorship
of, the block.



Under the terms of the agreement with Endeavour, Dana has also been granted the
reciprocal right, effective until the end of 2006, to participate on a similar '
two-for-one' basis for up to a 20% working interest in Dana's choice of up to
two UK North Sea exploration or appraisal wells in which Endeavour has an
interest.



Both the forthcoming Barbara appraisal and Fiacre exploration wells will be
drilled as part of Dana's 2005 North Sea operated programme. The Bredford
Dolphin semi-submersible drilling rig has been contracted for this work with the
Barbara appraisal well expected to start in July. This will be followed by the
Fiacre exploration well and subsequently, the Clachnaben exploration well in
Block 211/22a, in which Dana built a majority interest earlier this year.



A further exploration well has also been approved in the Netherlands sector of
the North Sea, to test the E18a-DF prospect. This well will follow completion
of the adjacent F16-E gas field development which is now due on-stream in
October 2005, some two months ahead of schedule.



Tom Cross, Dana's Chief Executive, commented:

'The four North Sea wells we have confirmed today follow on from the Melville
oil discovery, drilled in March. In addition, an appraisal well is being
considered on the Wagtail discovery, in the Greater Kittiwake Area, towards the
end of the year. We therefore anticipate drilling a total of six North Sea
exploration and appraisal wells in 2005, targeting some 50 million barrels of
reserves net to Dana.'

14/6/05
numis securities lift its's projections for oil group dana petroleum (dnx.l)
it expects the company to beat it's previous forecasts so it has raised eps for the current from 56p to 63.70p and 2006 forcasts have increased from 95.3p to 116.5p
end

Thanks for the posts Fundy, a good RNS this morning. Thats a decent raise on eps forecasts from Numis. Im sitting here just now waiting to see what happens to the sp after the sharp run up its had recently.

Gav

yep another decent rns

the 2006 forecast is a forward forward pe of less than 6 for a cash generative growth company!!!

if you look at the chart over the last few years, it would indicate a pull back prior to another run up towards the agm at the end of july - been tempted to partially trade it but decided just to leave it put and worry about it later :-) its worked ok as a theory so far

Yep Fundy, totally agree with everything you say. As far as cash generation goes, companies like this will be sitting on bags of cash over the next few years. If I was in your shoes, I wouldn't be trying to trade this, would just sit back and let it run. (In saying that I'm assuming you would be aholder over the next few years) From my point of view and not holding just now, Im trying to time an entry here.

Gav

got approx 10k in the isa where theyve been for several yrs and have no intention of selling them for certainly a few years and maybe even more - as long as the valuation looks cheap and the reserves are strong im happy to hold

Fundy,

I take it you saw the lastest KBC note on some oils dated 22/6? Email me if you've not and you want a copy. Its only brief but gives core NAV for DNX at 30,40 and 50 oil price. It gives core NAV of 461, 620 and 776. It doesnt mention anything about oil over $50. :-)

ttt

Dana Petroleum PLC
12 July 2005



PRESS RELEASE


DANA PETROLEUM PLC ('Dana' or 'the Company')

Dana Awarded Exploration Licence Offshore Morocco



Dana is pleased to announce that its wholly owned subsidiary Dana Petroleum
(E& P) Limited has now finalised and signed a Petroleum Agreement regarding the
exploration for and exploitation of hydrocarbons in the North West Safi area
offshore Morocco. The exploration phase of the agreement lasts for a total of
eight years and covers a large area spanning 6,540 square kilometres.



The decision to enter into the agreement followed the interpretation of 1,000 km
of 2D seismic data acquired in 2004 under the terms of a reconnaissance licence.
Together with other geological studies, this confirmed the hydrocarbon
potential of the area. Preparations are now underway to acquire a large 3D
seismic survey over the area with a view to commencing exploration drilling in
2007.



Dana acquired its rights under the reconnaissance licence in May 2005 through
the previously announced transaction with Global Resource Holdings LLLP. The
coventurers in the full exploration licence are now: Dana Petroleum (E&P)
Limited, 26.25%; operator Norsk Hydro Morocco AS, 48.75%; and Moroccan state
organisation L'Office National de Recherches et d'Exploitations Petrolieres
('ONAREP'), 25%.

Good news on the Barbara field and an extremely positive AGM statement today:

Dana Petroleum PLC
28 July 2005



PRESS RELEASE



DANA PETROLEUM PLC ("Dana" or "the Company")



Drilling Proves Additional Hydrocarbons in Barbara Area of Central North Sea



Dana Petroleum is pleased to report that the current exploration well being
drilled by Dana in Block 23/16b has found hydrocarbons in the neighbouring block
to the Barbara field, which was originally discovered by well 23/16c-8 in 2002.



This latest well, denoted 23/16b-10, has stepped out approximately 1.5
kilometres to the east of the original Barbara discovery well and has been
drilled to a total depth of around 9,400 feet sub-sea. A full suite of downhole
logs has just been gathered and evaluation is ongoing. Preliminary analysis
indicates that the well has encountered a considerably thicker Forties sandstone
reservoir than seen in the original discovery well.



Dana is drilling the 23/16b-10 well under the terms of a farm-in agreement with
Shell U.K. Limited and Esso Exploration & Production UK Limited, whereby, in
return for satisfying its drilling obligations, Dana will be assigned a 50%
interest in and operatorship of the Barbara sub-area of Block 23/16b.



Immediately following completion of operations at the current well, Dana will
move the Bredford Dolphin semi-submersible drilling rig to a location in nearby
Block 23/11 to drill the Dana operated Fiacre exploration well, which is
targeting a Jurassic oil prospect.





28 July 2005



For further information please contact:


Tom Cross Chief Executive 01224 652 400
Andy Bostock Technical Director 01224 652 400
Nick Elwes College Hill Associates 020 7457 2020





Notes to Editors:



1. Dana and its coventurers discovered the Barbara field in 2002 with the
23/16c-8 exploration well, which encountered a total of over 270 feet of good
quality Forties sandstone reservoir, full to the base of the sand with rich
gas-condensate.



2. Following final results from well 23/16b-10, the Barbara area will be
re-mapped. Dana's current estimate of most-likely recoverable reserves from the
Barbara field are around 120 bcf of gas and four million barrels of associated
hydrocarbon liquids. Barbara is located within tie-back distance of both the
Everest and ETAP production and export infrastructure systems thus providing
future development options for the field.







3. On completion of the farm-in obligations by Dana, the 23/16b (Barbara
sub-area) coventurers will be Dana 50% and Operator, Shell 16.67% and Esso
33.33%. The current 23/16c coventurers are Dana 50% and Operator, Caledonia Oil
& Gas 30% and Eni 20%.



4. The Fiacre prospect is a Jurassic age sandstone structure, located
entirely within Block 23/11, with the potential to contain 105 million barrels
of oil in place. On completion of the Fiacre well farm-in obligations, by
Endeavour, the 23/11 (Fiacre sub-area) coventurers will be Dana 60% and
Operator, Endeavour 20% and Eni 20%. The coventurers in the remaining area of
Block 23/11, which contains an extension of the Barbara field, will remain Dana
80% and Operator and Eni 20%.




RNS Number:4319P
Dana Petroleum PLC
28 July 2005
Thursday, 28th July 2005
PRESS RELEASE
DANA PETROLEUM plc ("Dana", "the Company" or "the Group")
ANNUAL GENERAL MEETING STATEMENT

Dana is pleased to report that at its Annual General Meeting held earlier today
all resolutions were approved by shareholders.

Commenting on the progress and activities of the Company, Mr Colin Goodall,
Dana's Chairman, made the following statement:

"Dana's track record of year-on-year growth continued in 2004. New highs in
production and reserves were coupled with record financial performance and the
Company ending the year with a significant net cash position. Dana also met its
key objective of positioning the Group for an unprecedented level of activity in
2005 and 2006 through a combination of technical progress and commercial deals.

In particular, Dana pursued its strategy of exchanging part of its early
exploration success for cash generative North Sea production, trading into the
Johnston and Hudson fields and exiting Indonesia, where considerable value was
added ahead of sale through a successful appraisal campaign. Dana also built
its acreage position in and around Block 1 in southern Mauritania and around the
Barbara area of the Central North Sea, ahead of important drilling events in
2005. The Group gained significant new exploration licences in the North Sea and
Australia and realised profits from Russia by finalising the terms for the sale
of its minority shareholding in Evikhon at an attractive cash price.

On the development front, the Banff gas re-injection project was successfully
completed in 2004 and the Gadwall and F16-E development projects were initiated.
Extensive technical progress was also made across the Company's assets to firm
up an ambitious, 18 well 2005/06 exploration and appraisal drilling programme,
including the acquisition of key seismic surveys offshore Mauritania, Kenya and
Australia.

Dana has continued to build on these foundations to make excellent progress in
2005. The deals to acquire a new interest in the Johnston gas field and an
increased equity in the Hudson oil field were completed in January and March
respectively, adding good quality North Sea production and reserves. Dana was
also approved by its co-venturers and the DTI as production operator of the
Hudson field. This significant achievement will provide the Company with greater
opportunities through its ability to manage production operatorships in the
future.

The Company additionally concluded deals to enter new exploration licences in
both of its core areas. In the North Sea, new licences have been gained in the
northern, central and southern sectors, all with near term drilling, and a new
eight year exploration licence, NW Safi, has been awarded offshore Morocco in an
area where preliminary indications from recently acquired seismic are very
encouraging.

Dana's attractive 2005/06 exploration and appraisal drilling programme began
positively, with the discovery in March of the Melville oil field, located only
six kilometres to the south of the Hudson field. The next well in the
programme, 23/16b-10, is currently being drilled and has also been successful.
This well has confirmed the presence of additional hydrocarbons some one and a
half kilometres to the east of the Barbara field discovery well in the Central
North Sea. Following the completion of 23/16b-10, two further exploration wells
will be drilled to test the Fiacre and Clachnaben oil prospects as part of the
current Dana operated programme using the Bredford Dolphin drilling rig.
Alongside this North Sea programme, Dana is planning to drill an important
exploration well in Block 1, offshore Mauritania. Following encouragement from
the recent electromagnetic surveys, the Block 1 joint venture group has decided
that this well should be drilled to test the Faucon prospect which has the
potential to contain over one billion barrels of oil.

With the pace of the North Sea programme set to continue and further high impact
exploration wells being planned offshore Mauritania and Kenya in 2006, Dana
anticipates drilling a further sixteen exploration and appraisal wells, in
addition to the Melville and Barbara wells, in the 2005/06 time period.
Together these wells will target a total of 1.3 billion barrels of reserves net
to Dana.

Of the new field development projects kicked off in 2004, the Gadwall field was
brought on stream in April and has performed well leading to the decision to
drill a water injection well in the field later in the year, with the objective
of maintaining production levels and boosting reserves. Good progress has also
been made on the F16-E development in the Netherlands sector of the North Sea,
with the result that the field is now expected to commence gas production in
October, some two months earlier than planned.

Dana is also actively pursuing incremental development opportunities within
fields already in production. A new horizontal water injection well in the
Mallard field has been successfully drilled and is now being completed, as is a
new, long-reach production well in the Johnston gas field targeting the 'tail'
area of the field. In addition, a workover campaign is in progress designed to
boost oil production from the Otter field and a programme of infill drilling and
workovers continues at Claymore.

Three new fields are targeted for development sanction in 2005. Development
approval for the trans-median Enoch oil field has now been received from both
the UK and Norwegian governments, approval for the Cavendish gas field is
expected shortly and sanction of the Goosander oil field is anticipated within
the next few months. All three of these fields are expected on stream in the
second half of 2006.

Dana is consequently driving ahead across all areas of its business with six
drilling rigs now working in the North Sea on Dana projects. As a result,
production in the second half of 2005 is expected to be significantly ahead of
production for the first half of the year, which was constrained by development
activity to an average of around 18,800 boepd. The Company currently
anticipates that average rates for the full year will be in the range of 22,000
to 24,000 boepd, however the final average for the year will naturally be
sensitive to the start-up timing and early performance of the numerous ongoing
development activities on existing producing fields.

Over 80% of Dana's 2005 production will be oil and over 90% will come from the
North Sea. The Company has no oil price or exchange rate hedging in place for
2005 or beyond and is therefore benefiting fully from the strength in both oil
prices and the US dollar. Dana is consequently in an excellent financial
position, with no net debt, significant net cash, and very strong cashflow. The
Group will utilise this healthy position to accelerate the extraction of the
potentially large upside value within Dana's portfolio of quality assets and
continue the pursuit of carefully targeted acquisitions and new venture
opportunities.

Finally, I would like to pay tribute to Dana's executive management and staff,
who have delivered a consistently high level of performance, and to thank Dana's
shareholders for their continued support."

For further information please contact:
Tom Cross Chief Executive 01224 652 400
Andy Bostock Technical Director 01224 652 400
Nick Elwes College Hill Associates 020 7457 2020

Fundy,

Good news on the drilling front for 05/06, although some firm dates would have been nice. What do you make of the production for 05H1 of 18.8kboepd? Perhaps a bit less than some were expecting hence some sellers today, although the 22-24k boepd average for all of 05 is quite a bit ahead of the 18604 boepd for 04.

I see you made the news today: FUNDY FINDS DIAMONDS IN LIBERIA ;-)

Gav

the wifes had me looking for them for ages - had to get lucky sooner or later :-)

H1 production figure was a little disappointing and to be honest the full yr is lower than i have pencilled in (27k) - they may of course be playing down expectations early in the year. That said, with current oil prices (and production unhedged) this should lead to a huge jump in profits. The drilling programme is highly impressive (agreed some dates would be nice -reportedly from the actual AGM it was said that Faucon would be drilled late sept/early oct). Also mentioned at the AGM that Faucon could well be a billion barrel prospect (though i guess this is total not recoverable). Barbara announcement very positive and was played up at the AGM with potential for Dana to increase their stake. Also very bullish on Kenya.