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Dana Petroleum - Acquires Bow Valley

April 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • DNX
  • Price:
  • 935p
After bottoming out last November shares in Dana have rallied 350p following an encouraging trading update, a major acquisition and another discovery. Starting with its operational update Dana achieved a record average oil & gas production of 39,400 barrels oil equivalent per day (boepd), representing 29% growth over the previous year and is now producing from 31 oil & gas fields.  Three new gas developments are due on stream over the next 12-18 months and Dana expects average production to be in the range of 37-41,000 barrels in 2009 although it may delay the start of new projects to take advantage of falling procurement costs. Meanwhile, several new discoveries in the UK and Egypt have seen proven and probabl ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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