Here we are Hardmano, don't look at diluting Mauritania...

Here we are Hardmano, don't look at diluting Mauritania holdings, it's a honeypot!


Numis Cuts Dana To Reduce Post Fund Raising

Thursday, November 10, 2005 5:08:46 AM ET
Dow Jones Newswires



0957 GMT [Dow Jones] Numis cuts Dana Petroleum (DNX.LN) to reduce from hold following news it has issued shares to facilitate the funding of its recently announced acquisition from Gaz de France (1020848.FR). Says more value "has been given away (from Mauritanian exploration) than has been gained" from the new Algerian and Egyptian assets. Argues that as the company ended 1H '05 with almost GBP40M of cash, some "will see this fund-raising ahead of the completion of the GdF transactions as opportunistic." Shares trade -2.4% at 871p. (PBA)