Updates

Dana Petroleum - ABN Amro issues new note

June 2005

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.

Broker ABN Amro has just issued a new note following Dana's recent results. This highlights Dana's two "potentially company-changing" exploration wells due to be drilled in the second half, including first either the Petrel or Faucon prospect in Mauritania, which are believed to contain up to 650m and 1.1 billion barrels of oil in place (OIP) respectively. The second is the Pomboo prospect in Kenya, which is estimated to contain up to 1 billion barrels OIP. Dana also plans to drill a further five exploration wells in the North Sea this year. Its recent oil discovery, the Melville well, is believed to be relatively small, at around 25m ï¿½" 30m barrels of recoverable oil, but this s ...

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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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