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?

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.

Lovely move into positive blue land.

Reckon the yanks lowering interest rates will see a movement into oil stocks later today and then OPEC cut forecast for tomorrow will add even more push behind oil stocks.

Hoping to see this one move around 15% to 20% in the next month or so.

Full Broker Forecasts for Dana make for Bullish reading....

Dana Petroleum PLC

FORECASTS
2008 2009

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Oriel Securities
15-12-08 ADD 240.70 125.30 153.90 79.70

Exane BNP Paribas
15-12-08 BUY 238.00 111.50 141.00 65.30

Evolution Securities Ltd
01-12-08 BUY 388.00 203.20 640.70 335.70

Numis Securities Ltd
27-11-08 BUY 182.80 137.10

KBC Peel Hunt Ltd
24-11-08 HOLD 263.06 132.11 201.96 109.74

ABN AMRO
29-08-08 BUY 406.73 186.67 430.17 198.28

2008 2009
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 245.66 150.49 184.27 102.83
1 Month Change -22.31 17.08 -1.65 -21.64
3 Month Change -101.43 -17.28 -171.32 -85.57


GROWTH
2007 (A) 2008 (E) 2009 (E)

Norm. EPS 79.64% 76.03% -31.67%
DPS % % %

INVESTMENT RATIOS
2007 (A) 2008 (E) 2009 (E)

EBITDA 215.90m 396.65m 358.93m
EBIT 161.58m 250.00m 155.00m
Dividend Yield % % %
Dividend Cover x x x
PER 11.57x 6.57x 9.62x
PEG 0.14f 0.09f -0.30f
Net Asset Value PS 102.73p 648.57p 778.24p

16/12/2008

Saudis say 2 million barrel production cut likely
By ADAM SCHRECK 24 minutes ago

ORAN, Algeria (AP) OPEC powerhouse Saudi Arabia said Tuesday that the oil cartel would cut production by about 2 million barrels a day to halt a precipitous fall in prices.

Oil minister Ali Naimi said "supply is still somewhat in excess of demand" and global stockpiles are higher than normal, reflecting comments made earlier by OPEC President Chakib Khelil and other delegates.

"Of course, to bring things in balance, there will be a cut ... to the tune of about 2 million barrels," Naimi said.

OPEC is not slated to officially announce a decision on production levels until Wednesday.

Saudi Arabia, by far the largest producer in the Organization of Petroleum Exporting Countries, usually sets the tone on production cuts and other major policy decisions.

The presence of a high-level delegation from nonmember Russia, the world's second-largest oil producer, and the bleak outlook OPEC painted in its latest market report only added to investors' hopes that coordinated action would be taken to stop crude's rapid slide from the record it hit in July above $147 a barrel.

While the near 70 percent drop in oil prices from their summer highs is good news for drivers already straining from the financial crisis, members of the 13-nation OPEC are hurting from levels that are now in some cases below what's needed to balance their budgets or earn a profit at some production sites.

Oil producers fear a drawn-out lull in prices could hurt investment and lay the groundwork for another sharp price spike when national economies rebound from the current, widespread recession.

"What is important is that there should be a consensus to cut production. A significant cut," Venezuela's energy minister said after arriving in Algeria's second-largest city.

Rafael Ramirez, whose country ranks among the Organization of Petroleum Exporting Countries' price hawks, added that Venezuela favors a cut of between 1 million to 2 million barrels per day.

OPEC gave ministers ammunition to justify cuts in its latest monthly market report, released Tuesday. The bloc predicted demand for its crude oil fell by 700,000 barrels per day this year, and will drop by at least twice that amount in 2009 as the worsening global economy "is expected to have a strong impact on oil demand."

On Monday, OPEC President Chakib Khelil hinted at the magnitude OPEC is considering by evoking the group's last Algeria meeting four years ago, where "we reduced by 2 million barrels."

Associated Press writers George Jahn and Alfred de Montesquiou in Oran contributed to this rep

Hoping this one does well out of the lowering of US interest rates.

Investors turning from the dollar to invest in oil.

gf why with global demand likely to fall rapidly in 2009?