dana petroleum statements "very upbeat"

Dana Petroleum Statements "Very Upbeat"

Thursday, March 31, 2005 3:03:39 AM ET
Dow Jones Newswire



0658 GMT [Dow Jones] Dana's (DNX.LN) preliminary results, oil discovery statement is "very upbeat... highlights an upturn in exploration activity by Dana in 2005," says Bridgewell Securities. Management plans, it notes, to drill seven wells "including two higher-risk higher-reward wells in Mauritania and Kenya." Also, 2005 production will average 22K to 24K barrels/day, with year-end production at 30K; "this production is unhedged." No analyst presentation Thu due to management travel commitments. Shares closed Wed at 536p. (HGT)

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