I guess this is the best news that an oil company share holder can get:

Shares in oil and gas producer Dana Petroleum rise as much as 8 percent after the company finds a new oil field at Rinnes in the North Sea that it says exceeded its expectations.

Morgan Stanley upgrades the stock to ‘overweight’ from ‘equalweight’ and says two wells at Rinnes could add 72 pence per share to its NAV of 1591 pence per share.

To be honsest I expected that the share will jump more than that. 3 weeks a ago a company in Israel discovered Gas field and the share rose 110% in one day.

But 8% in one day is not that bad… Anyway I do believe in Dana because they generate a lot of cash and they are debt free. I am here for the long run.