Spread Blogging - Spread betting tips » Dana Petroleum

Bought BAE today

admin — Thu, 23 Apr 2009 20:20:37 +0000

Hi all,

Those who read my blog on a regular basis know that I have a lot of respect to Simon Griffin from Shares magazine. That’s why when he recommended to buy BAE systems I read his explantions and openned my spread betting platform and bought it for 341 (June) I put a stop loss at 315 and my target is 420.

With BAE I have 4 shares on my protfolio:

Share	Date	Price	Current price	Profit / loss
Dana Petroleum	18/02/2009	947.2	1196.9	26%
Royal Dutch Shell	27/02/2009	1485.8	1429.2	4%
Tesco	06/03/2009	299.5	348.8	16%
BAE	23/04/2009	341.4	335.5	1.8%

I am still a bit disappointed with Shell. But for the long run I think it is a good buy.

When to sell?

admin — Sat, 18 Apr 2009 19:58:13 +0000

This is the hardest question ever. Let’s say you have a share that has done 20% in less than a month. You think this is a nice profit I should bank it. But on the other hand you don’t want to be the fool that sells the share moment before it takes off.

On Dec 10 I’ve bought Petrofac at 319. On Jan 05 the share price was 380 and I thought it is a good time to sell. After all almost 20% in a month is not bad. I was wrong. Look at the price now 591! almost double from where I bought it.

So what happened? I didn’t do my research right. To be honest I bought it through a tip (a good one I have to say) but I didn’t check the company and I didn’t know much about it. This is a big mistake. You should always know everything you can about share you want to buy or have. Then you can judge by yourself if the share can gain more or reached the peek.

It is a good lesson to learn. With Dana Petroleum I did my research and although I have 20% profit I am still holding the share because I think it has more into it.

Dana Petroleum up on North Sea oil discovery

admin — Wed, 25 Feb 2009 18:38:55 +0000

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.

New share to my portfolio – Dana Petroleum

admin — Thu, 19 Feb 2009 09:28:25 +0000

Hi All,

I bought yesterday the oil company Dana Petroleum. I know that oil prices are down, but this company states that they will still earn even when the oil price is $30 (which is now around $38). On top of that the company is debt free which is always a good positive sign.

They announced on Monday that they bought Bow Valley Energy for $177m in cash.

I bought them at 947p (March rolling) using Paddypower that offered the best spread by far.