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 agree, I think this has been a classic A-B-C move down, this being the 'C' wave, and afer that has completely we should have a pretty good buyable low.

I am seeing a lot of value out there. Some of the falls have been sheer panic selling and/or margin call induced.

Up until recently, the market has been working quite well, discounting weak stocks like banks, builders and retailers - which is logical. However, in the last week or so I have see accross the board 'blanket' selling, the type which I would associated with capitulation.

Could be a good Q4 for long investors.

I agree, I think this has been a classic A-B-C move down, this being the 'C' wave, and afer that has completed, we should have a pretty good buyable low.

I am seeing a lot of value out there. Some of the falls have been sheer panic selling and/or margin call induced.

Up until recently, the market was working quite well, discounting weak stocks like banks, builders and retailers - which is logical. However, in the last week or so I have see accross the board 'blanket' selling, the type which I would associate with capitulation.

Could be a good Q4 for long investors.

down 210p in less than 2 days.....pure carnage

oil down quite a bit today....but sp rockets up. last week, total reverse.....more dodgy going on in city

whats the forecast on dana,,it drifting down slow every day

Maybe fall in the sp is partly due to the whole market downturn & also partly due to the 20% stake they had in a recent well which was plugged & abandoned:
" Operator IEOC is currently abandoning the West Gihan-1 exploration well in the Gulf of Suez (Dana 20%). Reservoir sands were found as prognosed in the Nubia formation, however these were non-hydrocarbon bearing at this particular location and the partnership group will now consider further opportunities in this block."
Lots coming up over the next 12 months, so happy to hold. May top up if it falls to 1400 +/-. 200DMA around the 1450 level which should be chart support.

all oil producing companies going down irrespective of their own business. brokers predicting around 25 quid......soon be half the price the way its going.

oil is sky high too....still above 135$......if a company does well it goes up a fair bit, then market knocks it down a certain chunk.

if company does badly, then market kills it down to a penny.......is that how market works?

Scotty you are becoming cynical recently! Presumably you have taken a bit of a hit on a few stocks, like the rest of us?
Broker targets are still around the 2500p level. Just a shame to have to wait a bit longer than expected.

i dont mind holding shares for medium / long term......1st few shares i bought i held for 5 years.

but just cos a company is doing well, sp goes up quite a bit....then market says, hey this went up quite a lot so lets knock it down......pretend its oil going down on a day.....but its went up 30$ in last few months....or pretend its low volumes....any excuse to knock it down.
its old thing that maybe market doesnt like company being successful

i'm waiting till all major companies are 10p, lol

As long as the producers are producing....there will come a time when this will turn around...as long as oil remains at these levels....just the time of year ...great for holidays ..bloody awful for the markets.

i think reverse will happen soon when oil companies in a month or 2 will start going up again lots but rest of market tanks.....oil may drag back a little before next surge up

Credit Suisse out with 2840p outperform target.

I was waiting until it hit 1400 to buy, was not to be

May still happen imo. August still to come & go when trading is traditionally slow.

If you agree, cut and paste this to your favourite threads and don't forget to sign.



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We the undersigned petition the Prime Minister to MAKE IT ILLEGAL TO SHORT SELL STOCK EXCHANGE SECURITIES

A good start to the day.

ANYMORE VIEWS ON DANA GUYS,,

its a great medium or long term hold no matter what.....oil price in 5 years time will be high as we r running out of it to supply demand

if sp goes much lower, it could be a takeover target too in short term

check that bp are having huge problems in russia, their top man is in hiding.....they r pulling out of russia and so need to boost production

I agree long term they are a great bet especially since most of its production is unhedged and the growth story is continuing.

The Board were upbeat at the AGM on 24th and have posted a statement on their web site. ABN-AMRO have a target of 26.00 and Citigroup Global Markets have a target of 27.00 in line with NAV. The share price is conditional on the oil price but there should be a news flow from the 11 or so wells to be drilled during Q3 and Q4. Let's hope these produce some good results.