Corporate web page : http://www.dana-petroleum.com/

Consolidation details : http://www.dana-petroleum.com/Press/pr_270603.htm

Follow the shareprice : http://tinyurl.com/g4wi

Dana Petroleum are on one the small investors favourites, so we should have a thread on here!

Apparently they are pumping oil, which will increase revenue, and there is a share consolidation ad AGM due soon, so plenty to comment/speculate on!

gardyne,

This may help you, FROM www.danapetroleum.com

All you need to know about the consolidation.


The aims of the capital reorganisation are as follows:

1. To enable the Company's shares to trade at a price more in line with that of other comparable listed oil and gas companies;


2. To reduce the number of shares in issue to more appropriately reflect the size of the Company;


3. To reduce the spread between the bid and offer price for the existing shares as a proportion of the share price;


4. To improve the attractiveness, liquidity and marketability of the ordinary shares and in particular;


To remove the perception of some investors that the existing shares are viewed as "Penny Shares"

After Consolidation, the consolidated shares will each have the same rights attaching to them and ranking for dividend as currently held by the existing shares. The terms of the existing employee share schemes and the US$12,500,000 unsecured Convertible Loan Notes 2007, will be adjusted accordingly.

cheers andy,good to see the reasons for consolidation but although there was big buys this morning I still think this will slow down the increase in share price until this is out of the way.

gardyne,

You may well be right.

Looking at the chart above, DNX has been forming higher highs, and higher lows, which is normally a good sign! The next move will be interesting, so i for one will be watching.

a good solid stock with an enviable strike rate on wells.a few gushers could see this having a nav of 200p +. dont get too excited when you see 200p offer. just share manipulation.

superrod,

You must be 95 years of by now:)

:-)

Jeff

only coming up to 50 Jeff.
i dont profess to be a chartist but even a thicko like me can see the trend is up.

to clarify my last post i hear dana is proposing / has agreed a consolidation in the number of shares on issue. this would mean you own far fewer shares but the share price would be hiked by a similar factor. a few decent gushers would see WAY over 2 a share. scary to even think about.

superrod,

:-)

Jeff

Supperod,

Ignoring the large rise on the chart above, most other rises are for 2p, so we should see this go to 16.25-16.5 if the pattern repeats.

Anymore news on Dana?

I read an article in MoneyWeek suggesting that Dana is owed some
"good fortune" due to its decent exploration positions, and it will
drill at least three exploration wells off West Africa over the next 18
months.

With 2003 expected pre-tax profits of 13.5M on 37m turnover - its not bad!

Anyone have any thoughts?