Dana, production growth a certainty

wan,

Yes. I know some of the Western majors do - but I think they are basically sellers rather than buyers in Russia at this point.

The more I mull Dana, the more I think the obvious comparison is with Paladin rather than any companies who are heavily into foriegn explo. Mauritania is the ony real difference (and it DOES seem to be a real difference) but I would be concerned that Dana would swap out of a slug of it in exchange for a big piece of BP in the North Sea. Obviously this could be a great deal - but I'd be inclined to think that Dana might overplay their negotiating hand. BP might, for example, sell to Tullow or Paladin and then buy into Hardman or another Aussie with Mauritanian exposure, instead of selling to Dana. Not that such an outcome would be fatal - but it might defer price gains.

Thanks for the thoughts.

rgds

ee