Title: Dana boasts it can produce 50,
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Blog Entry: a{TEXT-DECORATION:none} DANA Petroleum said it will soon be producing 50,000 barrels of oil and gas daily in an update which appeared to be meant to raise the stakes in negotiations with the company's Korean suitor. Chanel shoes Chanel shoes Tom Cross, chief executive of the Aberdeen-based firm, said Dana would achieve the landmark "shortly" putting it in line to record a big increase in annual production. Dana, which received an unsolicited Chanel shoes bid approach from the Korean National Oil Company earlier this month, produced an average 38,700 boed from interests in the UK and North Africa in the year to March. Production problems and the depressed gas price weighed on its performance. Cross noted that Dana had been growing its reserve base by making and developing discoveries and by buying assets. The pound(s)270 million acquisition of Petrocanada Netherlands, agreed last month, is expected to add 9,000 boed to production. dupont lighter Cross said the huge amounts of cash generated from production would allow Dana to complete the busiest exploration and development period in its history in coming months. dupont lighter The company recently started drilling a well to test the Nefertiti prospect offshore the Gulf of Suez dupont lighter in Egypt. Tiffany jewelry It will drill wells on the flagship Anne Marie and Tiffany jewelry Cormoran prospects, off the Faroe Islands and Mauritania respectively, in coming months. In a note to clients, analysts at Evolution Securities said there was little new in the announcement. "We are not aware that KNOC has ever been especially interested in exploration or paying up for it Tiffany jewelry so in the context of a possible bid this announcement looks like a negotiating manoeuvre," they said. Claiming Dana's shares could fall sharply if KNOC does not proceed with a bid, the brokerage reduced its recommendation on the stock to sell from neutral. Shares in Dana closed up 68p at 1484p. Korea National Oil Corporation is thought to be considering a bid of pound(s)1.5bn, 1639p per share, for Dana. Christian Louboutin Shoes Christian Louboutin Shoes
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