Dana Petroleum, earning per share growth and prospective PE range 4 -6.5

If Dana was ONLY a play on drilling news from Mauritania, then it might be tempting to take profits on news.....but it isn't!

I bought a few weeks ago in the expectation of a rerating.....and, frankly, the stream of news showing that Mauritania has great potential [even if Pelican hasn't proved to be the one-shot company-maker that we might have hoped for] only goes to support the case for rerating Dana based on the fact that it's cheap.

I am expecting a steady rise once the institutions start opening new positions in the New Year......Dana is now one of the most attractive stocks in the sector - and I think there'll be institutional interest in raising their exposure to oil and gas for 2004.

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