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?

u wont go wrong by them mitzy IMHO .......should be good for investment.....and oil price in 5 years time will be higher than todays price.

note that russia are threatening to turn taps off on monday to europe......the threat alone should keep high oil prices

future of uk oil industry.....hmmm, best days r over just like rest of country.
oil industry is extremely inefficient as well......high oil price is main thing thats given a lot of companies a good time in recent times.

and having likes of bp leaving cos they r hacked of with gov taxation etc....and so go to russia and have paid total of 90 billion in taxes and dividends to russia is hardly what i consider good for britain.......similarly with shell who have gone to far flung countries in more dodgy countries

Thanks scotinvestor call me old fashioned but I'm a buy and hold type of investor knowing that long term you cant go wrong..

The oil price isnt going down in fact $115 is probably the low for the time being the oil and commodity boom isnt going to go away.

i agree with u mitzy.......i'm like u ala investor......better not have big al let u hear this as he laughs at all investors......he's doing so well though that he's old and still works on an oil rig with loads of other guys snuggled up together

I invest like anyone else. Had Dana shares in 1998 FYI. Don't hold them now of course. Also had VPC just after they floated and have "invested" in EOG, EO. and numerous other small outfits in this sector over the years.

You shouldn't scoff at everything Scottie boy unless you really know about a person.

pot calling kettle black if ever i heard it

all u ever do is moan.

I see a lot of moaning there - NOT! You're so predictable.

and i certainly wouldnt want to know u, al

thats right...u r multi billionaire but u still go on oil rigs....and u spend rest of your life on this

Thanks God for that. I do what I like to do and that includes work, Mr Sad. ;-)))))

its u thats sad mr.multi billionaire


lol.....u r thanking god....and u were the one thats an aetheist.....unbelievable as ever!

This is NOT the MDX thread. If you want to behave like a couple of kids, bu**er off & confine it to that board. Don't ruin this one.

sorry harry

i have refrained for certain periods on mdx....but al and his dimwit mates trash it.....there is only 2 people that provide info on it unfortunately.... but for some reason the moderator on this site aint banned the loonies that trash it

Harry - My first comment here was posted in good faith and for general information. Check it out.

Up and down all over the place this am.

10% today.

I'm guessing they will be subject to a bid in 2009 at around 16 a share.. which is cheap compared to the sp a couple of months back.

NOTE Petroneft resources,a BROKERS RECCOMENDATION IS EXPECTED TO BE GIVEN AND A RE-RATEING ON THIS COMPANY 78P WITHIN A FEW DAYS AS EXTRA OIL RESERVES ARE TO BE UPDATED.

sub 1200p incredible.

Worst market I have ever known....dear oh dearie me !.