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?

Pausing for breath before the next climb.

I would definitely say 20 a share here +.

New targets are Evolution 19, Morgan Stanley 19.20 and ABN Amro 17.55.

Let's hope for some success at East Rinnes and if this can match West Rinnes the share would be very cheap at current levels. Combine that with the potential in Egypt and I wouldn't be surprised to see something nearer 23/24 in a year/18mths.

Thanks for that Greyhound 2000p is my target too.

Get on board the rocket that is Dana.

On our way again ;)

I agree with your previous comment .. 23/24 in a year.

1800p sometime this week.

I've changed my mind they could double in 2009..30 plus..?

All very dependent on East Rinnes/Egypt/Africa as a whole. Plenty of drills scheduled so anything is possible. My realistic target would be 25 in a year. A successful doubling up at East Rinnes following West Rinnes would transform us further.

Missed out on this one...one of the few Isa oilies I'm not in...well done those that caught the rise.....I must admit I should have seen this coming...good luck all !

Never too late with oilies they just keep on and on...plenty of drills here could easily go 30% higher in the next months.
Every portfolio should have a few Dana.

ot take a look at KENZ.

Dana moving on up now after a slow start... what took it so long..

Guy on BBC24 tonight predicting oil will rise another 30% to 40% in the next 12 months he pointed out oil had risen from $19 a barrel in 2000 to $120 at present and another $50 was possible all this despite BP and Shell reporting profits up 5 0%.

Mitzy, it was waiting for me to bail out. Always manage to get the timing wrong!

What cracking reading those results make and looks like the market waking up to the fact as well. Dare I suggest that even after recent heady rises, the shares look cheap on fundamentals and the potential drills that are already happening.

I agre Greyhound they dont come better than this and more drills to come make this a buy to 20.

The gains continue. I wonder how long before news on East Rinnes and what our chances are of a further find so close?

Any positive news re East Rinnes would put the sp in the low 20's.

Looks like we're just touching 18. Such positive momentum behind this stock and with excellent increases in production and a drilling programme to be envied.

Yes 1800p Greyhound nice to see as you say its a momentum play thanks to E. R.

Goldman Sachs latest report oil $200 within a year..