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?

Goldman also saying "potentially attractive acquisition target".

A bid on any in the sector would provide a welcome boost, check out lonmin yesterday!

Absolutely! Chances are increasing that it can happen here too. I would like to see a few takeover successes in my portfolio right now ;)

Dana's debt situation is encouraging and following recent finds and rising production, it's dirt cheap. Someone somewhere putting the sliderule over it we hope!

Bought again at 1209 after selling the other day at 1290ish. Hoping for a double bottom! Possibility of it visiting 1050 in which case buy again I suppose

Yes I traded likewise. Bought at 1250 and sold at 1350

Strange that DNX has made much more progress than PMO over the last couple of days.

Dana has said that its results will be released a week tomorrow.

Still dirt cheap along with VPC.

Excellent set of results this morning, looks like the market is gradually waking up to the fact. Plus low debt levels and a lot more drills to come this year.

Record first half production of 43,147 boepd up 67%

Turnover increased by 188% to a record high of 314.5 million

Record Pre-tax Profit of 133.1 million up 138%, leading to Earnings Per Share of 69.95p

More than threefold growth in cashflow from operations to a new high of 193.9 million

Net debt further reduced to 9.0 million, lowering gearing to below 2%

Up 60p great.

I don't have any factual info to base this on, but hearing Evolution out with price target 3260p?

What..???

thats incredible if its true..

most brokers are 2500p plus.....3260 is highest i heard of so far.....anyway even by todays price, this is super cheap right now......market seems to have forgotten about dana

just to remind you:

2/6 Morgan Stanley 2360p
23/6 ABN Amro 2600p
4/7 Exane BNP 2200p
8/7 Credit Suisse 2840 !
7/8 Goldman 2140p
today Oriel add - not sure of target price yet.

Anybody who takes any notice of analysts is mad. The market certainly doesn't take any notice except the day when results are out. It is being traded up to 15 today. Unfortunately with all the red herrings I missed it. It will then drop a bit before the US opens.

As to what it does in the future will depend on oil and the other stocks. If they go up, it will go with them and vica versa. Tis like playing Russian roulette atm.

I don't disagree with your comments, but if broker info, reports/targets are available investors shouldn't be blinkered to it.

Naturally if oil continues it's rebound etc or other oilies outperform we can expect to do the same but what's different here is not only is production increasing rapidly but on the exploration side there are not many others that can match the forthcoming schedule. Already 3 out of 4 finds this year plus gas. There's a very robust drilling schedule ahead and it's this and potential finds which is more likely to drive it higher imo.

US likely to be pretty thin today ahead of long Labor day w/e.

Hurricane Gustav forcing oil prices up might be helping...along with general recovery for mid cap oilies !.

125p rise.. next stop 1600p.

Suspect that spike higher (up 137p) was Citi out with buy rec, target 2700p