Dana, production growth a certainty

I think it is worth noting before we get carried away that the cost of hedging can also be significant. Doing too much hedging will add to Dana's costs. It aslo indicates that management are (understandably) uncertain about the future oil price.

Further, if there is a terrible war in Iraq the effect on the World economy will be devastating. Dana and the Oil price will benefit if a war is short lived, but if a prolonged war happens the Oil price could fall back to the $9 dollars a barrel we saw during the last recession.

I am still holding for now, but am not expecting miracles until Dana hit a major find hope it is before the oil price (as it will) turns down.