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?

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 !.

all miners and oilies being absolutely hammered but in my opinion a good thing for the market. This had to happen before the market could recover.

The whole commodity story has now gone and in negative territory but long term these are great values if you're brave enough.

KAZ down 13% yesterday and 6% today. ENRC likewise. AFR 13% CFM 12% carnage.

Oil support at 88 dollars, keen to buy when RSI gets to 20 as before...
http://www.moneyam.com/action/charts/basic

Bought small lot this morning in hope that oil won't breach 88 and this is a false breakdown through support of 1200 due to insane market conditions.

I dont believe it 700p this is another disaster.

I sold out at 1200p and people said I was mad they were not wrong..!

it aint company fault......its just markets bashing every share until whole market has had enough.....we are almost there

Turniing out to be a lovely trading stock.

looks to be trying to turn positive.

latest broker recommendations.

Dana Petroleum PLC

FORECASTS 2008 2009
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Oriel Securities
12-12-08 ADD 240.70 125.30 153.90 79.70

Exane BNP Paribas
12-12-08 BUY 238.00 111.50 141.00 65.30

New article, click HERE

Excelent article Andy thanks for sharing it.

net cash position....... very nice.

Negative start but ive gone in for more.

Recently tends to start from a low base and then builds up over the day.

Just about to turn positive, fingers crossed.