Dana, production growth a certainty

emptyend...If given a choice I don't think Dana would completely give up the "jam tomorrow", as it is part of their stated strategy to exchange exploration success for producing fields, and in turn the cashflow generated from these proven producing fields supports the exploration progammes. The other part being commercial transactions where acquisitions are on very attractive terms.

It may be that Mauritania is attractive enough for Dana to retain a reduced stake, free carried in exchange for North Sea producing assets, which would further boost Dana's cashflow via income and no associated costs but, I think the deal would have to be very attractive for Dana to give up such a huge potential to increase reserves, in a region already demonstrating exploration success and industry recognised as having potential to become an oil province.

In other words if Dana's existing portfolio is attractive enough, then that on its own may be sufficient to drive further deals without the need to issue further equity, and deals could be structured around debt, existing cashflow and newly acquired cashflow?

First inline in my opinion will be the Ujung Pangkah field with Amerada Hess which has North Sea assets?

I would not discount the FSU assets which have also become non core?

Regards wan ;-)