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?

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..

Citigroup have a 2150p target so another 400p on top of present price.

This is going to be a fun day following the discovery of oil at East Rinnes!

It doesnt get any better another time..

thats an extra 30 mbo..

Merrill just out with buy note, target 2325p

Wow thats great news I knew they were cheap.

The market still waking up to the fact that they're still cheap as well! Perhaps heading back up to the highs this afternoon....

http://business.timesonline.co.uk/tol/business/columnists/article3920109.ece

Exactly hold for more gains
momentum here plus the rising oil price should take us to 24/ 25

Still cheap going forward.Oil moving to $150 next week maybe UBS has upgraded them to a buy anything sub 2000p is a bargain.

UBS 2500p price targtea.

That UBS target seems more appropriate considering what's going on here and underlines what some of us have been saying for some time here.

Another strong start, are we about to see the 20 surpassed.