Hi all
Is anyone in Dana Petrleuom or thinking of getting in ahead of Faucon? I bought years ago at2.40 pounds and sold in the shake-out in mid-October at 8.72 pounds...nice!! Its been one of the UK's best performing oilers. Its only about HDR size in terms of market cap (a bit bigger at ~ $1.7b).. but produces 18,600 bope/d = 6.8 mboe per year and has 2P reserves of 124 mboe (total technically recoverable 240 mboe .. i.e. + possible).
A find at Faucon at 300 mbbl with 80% Dana (DNX in the UK) would double their reserves!! And the downside is limited as there's not much in the sp at present for this eventuality (given the recent dusters and a retracement from over 9.20 pounds to 8.00 pounds)... and they already have significant North Sea production. So the upside is significant and downside limited (provide POO holds .. but that's the same for any oiler at present).
I'm getting back in soon.
H
HDR
hardman resources limited
