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Secondary Recommendation

Dana Petroleum - Major beneficiary of oil price surge

September 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:
  • 822p
With the oil price at US$65 a barrel, amid concerns about refinery outages and security fears in the Middle East, the question on everyone’s lips is how far can it go? Talk among traders has suggested a quick surge towards US$70 and not surprisingly, this has lifted the whole oil sector, although the biggest gains have come from those who have not diluted their good fortune by hedging future production when prices were a lot lower. Indeed this was a major reason for our decision to add shares in Dana Petroleum, which has a diversified spread of interests in the North Sea, Africa and Australia, to our TMI Trader Portfolio in June. The most amazing aspect of Dana’s decision to remain virtually un-hedged is that since April, bro ...

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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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