Dana Petroleum Share Discussion Threads

[colsmith] 23/9/2010 14:00

Phil - Little England is now largely owned in crucial assests - water, electricity. For example - how could we end up with EDF (largley French Gov owned) owning British Energy. UK were leaders in Nuclear in the 50's and now not only don't own the assets (such as Sizwell A and B) but don't have the know how to design and build new Nuclear - such as the likely Sizewell C. Don't agree with all of Cable but short termism and sell anyhting to anybody as the UK does is ultmatley self defeating. DNX is a small guy but the way its been flogged in the City by short termers would be a good example for cable to use.

[jojo_jo] 23/9/2010 13:42

Nice choice, one of my favourites old Fats (but he's not a lady).

[edmondj] 23/9/2010 13:32

Bit more lively:

[jojo_jo] 23/9/2010 13:30

Still holding... till monday anyway.

[alanadale] 23/9/2010 13:29

This is beginning to feel a bit like the Sinking of the Titatnic. Anyone got the score for Abide with Me?

[edmondj] 23/9/2010 13:28

No, but at some point it becomes an issue.

Deadline for acceptances closed at 1pm so presumably KNOC will announce the position as to going unconditional, with Dana's response by end of week.

[phillis] 23/9/2010 12:57

I don't recall your previous crusades to keep foreign companies out of the North Sea?

[2006stocktaker] 23/9/2010 12:42

Phillis,

Any fool can flog a £10 note for a fiver.

It's actually the "laughable", Little Korea, Little Switzerland, Little USA and the rest, I'm complaining about.

[phillis] 23/9/2010 12:37

The Koreans are the only ones daft enough to pay £18

[phillis] 23/9/2010 12:31

This is laughable - little England

[edmondj] 23/9/2010 12:17

The wonderfully efficient self-correcting capitalist system cannot seem to engineer a takeover of Schroders, to get rid of managers responsible for 10% and 17% UK equity returns, on a 5 and 10-year view, no wonder they need to put companies into play for a quick boost return.

[2006stocktaker] 23/9/2010 12:12

Looks like open season on British companies after this. Sort term and short sighted City institutions know the price of everything and the value of nothing.

A rare British manufacturing success story, Wellstream likely to follow next. As if we have so many world class manufacturing companies that we can afford to export those highly skilled jobs and technology. Prudential next in the frame, who knows, but the City is excited.

This is not zenophobia, If there was an even playing field nobody could complain, but it's strangly one sided this. The Koreans won't be selling KNOC for any price, you can be sure of that. In fact Korea restricted foreign shareholdings in any of their companies until relatively recently. Tried buying a Swiss company?

Meanwhile in the US that bastion of the free market, it's amazing how many companies suddenly become "stratigic", as CNOOC soon found out when they tried to bid for Unocal.

[colsmith] 23/9/2010 10:50

Someone from the great and good lot in comment to Cable's need for more protection against unwanted takeovers said that takeovers were good as they got rid of poor management etc. Seems not the DNX case - pure example of grab when the assets look likley to takeoff. Even more need for what Cable raised as an issue for DNX as there is a strategic energy supply issue here as the UK now imports oil and effectivley all the DNX stuff from from the North Sea will go to Korea.

[edmondj] 23/9/2010 09:54

With Goldman targeting £21.50 largely because the city was taking no notice of Faroe, Mauritania, and the 2011 drilling programme.

Xcite was in a 60p range only recently, likewise other oils before a decent well or two can transform value.

KNOC has been able to dig in at £18 because Schroders kept insisting this was a good offer and enough hedgies with CFDs meant 49% loose holders before the process started. Very hard to stay independent.

[phillis] 23/9/2010 09:37

I'm not frustrated
This stock was £11 before the Koreans came along!

[edmondj] 23/9/2010 09:13

Likely to add to the frustration when the offer is declared unconditional.

Institutions caving in will doubtless say: 'To the best of our knowledge we were acting in clients' best interests.'

Still no counter offer.

[haydock] 23/9/2010 08:57

That pie should be far from humble in Aberdeen:
Comments please!!!


Partial Sale of interest in Mariner
Date : 23/09/2010 @ 07:00
Source : UK Regulatory (RNS & others)
Stock : Nautical Petroleum (NPE)
Quote : 380.0 68.0 (21.79%) @ 08:40

[edmondj] 22/9/2010 19:27

Tight Aim market in FPM; sensitive to speculation.

[lostit] 22/9/2010 19:12

I presume you are all following Faroe Petroleum as well. 19% increase in the last 2 days and Dana have 27% of it. I wonder if the tea ladies on the Anne Marie rig know something or if KNOC fancy a bit of it as well?

[edmondj] 22/9/2010 19:06

Interesting post over on iii with an industry lead, re. Mauritania, if only this could KNOC the rubbing of hands and champagne going on ice, at Merrill Lynch:

My thanks to "Your Oil & Gas News"

Going well and drilling like a burgler, I think by tomorrow the 20" casing will have been run, a few days to run the riser so by the weekend they will drillout and drill to the first target, then run casing. So going on my own experience looking at maximum 2 weeks before we know anything.

If this prospect does come in and proves an extension of Pelican it could have serious ramifications on the share price, either way. Hold on for now.

Portie.

[volsung] 22/9/2010 16:27

KNOC KNOC who's there?

[phillis] 22/9/2010 16:20

Looking forward to an anouncement by KNOC around the middle of the day tomorrow

[shabbadabbadoo2] 22/9/2010 15:59

Can KNOC buy in the market and go over 30% from announcing the offer being unconditional?

I assume, if so, that they can only pay a maximum of £18?

[thegreatgeraldo] 22/9/2010 15:54

I did wonder if humble was a Korean breed of dog.

(edit) As to the Dana board, if the Koreans declare their offer unconditional, they'd presumably advise acceptance due to the looming threat there would be of a delisting, whilst still pointing out the offer undervalues the company.