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?

Not had any for a while. Sorry HOC not playing the game right at the moment.

Dont you worry cyners if I get one going against me Ill admit it. Personal Pride doesnt play any part in my trading approach.

its run the winners and get rid of the stinkers.

good luck.

18 bid rumours now 14.50

False alarm, just a pump and dump!
http://www.lse.co.uk/StockMarketNews.asp?ArticleCode=f8lbwsmtn0xqza4&ArticleHeadline=dana_petroleum_not_in_takeover_talks_-_sources

Nice upward trend with the graph even though there are 100p ups and downs !.

no way would dana accept 18 anyway given that oil price is rising rapidly and through more time will be lot higher

thats about 35% increase to 18 quid, big deal.......this was tipped last year between 25 to 30 quid by all the major brokers

.Published: Aug. 3, 2009 at 12:44 PM
ABU DHABI, United Arab Emirates, Aug. 3 (UPI) -- Emirati energy giant Dana Gas moved closer to its production target of 40,000 barrels of oil equivalent per day with its latest discoveries in Egypt.

Dana Gas announced two new discoveries in the Nile Delta with its Sharabas-1 and Sama-2 operations, the latest in a slew of discoveries resulting from an aggressive drilling campaign in Egypt.

The company, the largest private natural gas company in the Middle East, said the finds would add 76 billion cubic feet of reserves to its portfolio, moving Dana Gas closer to its goal of reaching 40,000 barrels of oil equivalent per day.

Sharabas-1 holds an estimated 28 billion cubic feet of natural gas plus associated condensate, while the Sama-1 holds roughly 48 billion cubic feet in similar reserves.

"We are very pleased that our Egypt exploration program is continuing to yield discoveries," said Dana Gas Chief Executive Officer Ahmed al-Arbeed.

Dana Gas is the sixth-largest gas producer in Egypt, ending 2008 with a daily production rate of 31,640 barrels of oil equivalent.

ahem! .... surely Dana Gas is a totally different company from DNX = Dana Petroleum

oop's sorry.

sort of dumb mistake i would make - lol!

Was just passing the time looking for news of interest, slap on wrist.

dana's been doing nicely.

Dana Petroleum posts profit fall28-08-2009 07:13

Oil explorer Dana Petroleum reported a sharp drop in first half profits in what it called a very difficult macro economic environment.

Profit before tax for the period was 21.9m from 133.1m last time. The results were impacted by a 14.6m write-down in respect of unsuccessful exploration expenditure, principally in Egypt, which did not attract any tax relief.

Average working interest production to Dana was 38,999 boepd, broadly flat compared with the 2008 year average of 39,400 boepd.

Revenue for the period fell to 165.1m from 314.5m last year, reflecting significantly lower commodity prices.

'The Dana group has made substantial progress in 2009, despite difficult macro economic conditions and low commodity prices,' said chief executive Tom Cross.

'We are looking forward to an exciting drilling campaign over the next few months with a further 9 exploration wells scheduled before the end of the year.'

Unbelievable! Totally unsubstantiated rumour of an approach from one of the majors & the sp rockets!!! The power of gossip.......!

it's actually a very good company, and t/o is certainly not impossible ...... for all that, a rise of 25/30p on a heavyweight such as this is scarcely rocketing

The rise at 11.30 ish was solely due to a rumour that BP were possibly considering a bid of 1700p. The rumour was purely market gossip and flagged as such.

from a chart point of view, sp has jumped back up through 200 dma ..... also, traffic today is certainly heavy for this company

Don't forget though that the recent drilling news from Norway is disappointing:
""The primary exploration target for these two wells was to prove the presence of petroleum in Paleocene age reservoir rocks. Oil was proven in both wells, but with less reservoir thickness than prognosed. Extensive data has been gathered in the reservoir zones, including pressure tests and oil samples. Given the close proximity of the Jetta oil discovery to existing oil producing infrastructure, further work needs to be carried out to evaluate the commerciality of the Jetta accumulation in conjunction with other fields."

Apart from the t/o rumour, I would not be confident investing here atm.

true, but i am now in a luxury cleft stick insofar as i bought some this morning out of greed and am now wondering if/when to bank the profit!

Mixed news from DNX today:
http://moneyam.uk-wire.com/cgi-bin/articles/201006240716471671O.html