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HDR 0.0¢

ARQ result good for HDR

  1. Things are looking good for HDR's upcoming drills in the North Perth Basin, TP/15, which is located within State territorial (coastal) waters. TP/15 contains part of the Cliff Head prospect where Roc Oil Company Limited confirmed a new oil discovery in January and now ARQ has made another new gas find in the high Cliff Sandstone.

    This means that the last three wells drilled by ARC in the Perth Basin have been new pools.
    - Hovea l - which discmered oil in the Dongara Sandstone resivour in October last
    - Cliff Head 1 and 2 - which discovered a new oil fairway offshore in December
    - Hovea 2 - which has dtscovered a new pool of gas in the High Cliff Sandstone zone

    All good news for HDR

    Sellers still being earerly snapped up this morning.

    Looks like yet another 2m dollar day for HDR.

    Oh yeah...apparently there's a Mauritania drill not too far away either :-)

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