Once this baby hits 300p+ it's going to fly!

It's done fairly well I admit, but 3+ has been beckoning for too long now.

Bingo it is - do we assume this is all to do with the AGM or is/was there a hidden agenda ?

Rising fast...

Oakapples

Not fussed whats causing it - lets hope this is the start of a re-rating up to 4 and beyond.

Fundamentally it's undervalued, though I expect some profit taking!

Did anyone attend the AGM? If so what news?

rgrds
gk

People will start off loading @ 300p + but hang on, there's futher gains to be had, but this aint gonna happen over night. Patience!

Bingo

if this holds above 300p i think people will be buying on the chart breakout!!!

Let's hope so!

Teather & greenwood price target 335p. Exploration plans could add 1 to the share price. Rated a Strong buy.

335 would do me......although 4 would be better!

What a rally. Added another 2000 at 310p and I have a take profits set for 350p.
This company has real potential and proven progress coupled with the high oil prices that will be around for a while it looks one of the best mid-cap plays in the market. Get in there!!

Yep, is also on a modest pe of about 12 which is quite a discount to the sector.

Are we seeing profit taking to-day - vast amount of small sells - cannot see another reason - any other info out there

The reason is a security alert in Mauritania. Sounds like political problems not terrorist.

Thanks gallick - besides owning stock I have a 10 - 1 side bet that DNX will reach 4 before 1 Apr 05 !!

Re my post number 20 - I really didn`t expect to be receiving my 10-1 wager so early but have already been paid the 100 - Following announcement re North Sea drilling and "gush" predicted as early as Feb 05 this could keep rising LOL

Oak

nice little side bet!!!

I think there are a lot of positives with this currently and the share price is running away. I believe this is a genuine re-rating which has long been overdue and has a bit further to run yet.

At results time they also intimated that there is likely to be more swaps of prospects for current production with the likelihood being they offer more of their interest in Mauritania for more north sea assets.

Also the potential of them being a takeover target if any of the larger players want exposure to Mauritania.

With further swaps and sustained oil prices it is possible to see an EPS of 50p next year whcih would only put it on a forward PE of 9.

I continue to hold a large chunk in my ISA (from 180/220 i think) and a very in profit s/b (currently +112)

All imho

Agree that this is well due a re-rating. I can't understand why the PE has been so low relative to the sector, especially as Dana are showing such solid production figures. Clearly they are carving up the cake with Woodside as it becomes clearer that the potential in Mauritania will be realised. Long term hold IMHO.

rgrds
gk

Gallick, agree. Just off loaded a few at 400p, but kept a considerable holding as long term they should prove to be quite profitable. I must admit it is quite tempting to cash in now though. Most of the buys going through tend to be smaller in volume. Hopefully we'll get some institutions interested which will push it even further. I feel 500p will soon be realised.