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 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.

i'm sure the oilies will come back again from recent sharp falls......in any event, oil in few years time will be in short supply so its only going to go one way

i think credit suisse had 28+for dnx as a target

Tipped by The Momentum Investor this weekend

seems as though everyone is tipping it......and supposed to be worth twice the price....except market doesnt think so as it goes down every day every week

At 1400p they represent good value.

very cheap i'd say as recent finds with high oil price will show up in next results..... big increase in recenue / profit

Scotinvestor

That was the gist of the TMI article - expected output rising from 30,000 to 45,000 barrels per day, unhedged oil prices and more drilling to be done.

I can't remember the actual figures but there was a huge increase in expected EPS
(it was something like 90p increasing to 1.90)

Still waiting for 14

192p for 2008 and 209p for 2009.

Forget 1400p its going back up again.

BP should give them a boost despite oilgarch activities

best not connected with bp.....bp are in serious trouble in russia.....bp production in russia accounts for 25% and when they get kicked out, their sp will bomb....in fact i'm surprised it aint affected right now

cheap, don't miss it falco. Thinking of topping up too.

Yes especially with bounce in black gold today from that crucial 120 support

Pleased to have got another tranche at sub 1390, bargain basement. Rapid drilling programme for the rest of the year and ramping up production.

Good value at 1400p.

bought a few today 100% upside possible if analysts are correct.

Hi there. thinking of buying. AT the moment I think sentiment's dictating the sp. Oil has fallen through a big level 120 i think , and this will scare some private investors or give the mms an excuse to put down the oil shares. From a fundamental point of view i completely agree with the points made abouve, especially the unhedged aspect. IF there are some investors out there who are chartists however it looks horrible and has no support till 12 pounds, the price before the oil find.

Is there an actual date for the results? If the market's depressed at the time of good results it could keep a lid on price or even drag it down, sentiment cannot be underestimated, but as a buy for a few months i think it's very promising. I'm in the peculiar position of actually hoping it will drop more and waiting before diving in.

Well I got out of my latest tranche at almost the same price but with the share price a fair way below 200 dma, I'm topping up again shortly. Overdone with the drilling programme scheduled and the increase in production. And I suspect it's all just a correction. I stick with Goldman and oil at $200 in the coming 2/3 years.