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Dana Petroleum - Poised to drill high impact Faucon well

November 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.

  • Epic Code:
  • DNX
  • Price:
  • 828p
The benefits of being virtually un-hedged helped Dana achieve an impressive set of interim results, with turnover increasing 47% to £71.6m, operating profit doubling to £40m and earnings jumping 140% to 30.5p.  Average production increased 5% to 18,796 barrels of oil equivalent per day (boepd). The only disappointing note was that Dana will now miss its target of ending the year with 22,000-24,000 boepd because of longer than expected maintenance related downtime and new fields coming on stream later than expected. Nevertheless, Dana still believes it is on target to reach 40,000 boepd by the end of 2007, which would be a major achievement. Later this year, there is also potential excitement from two more exploration wel ...

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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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