HDR hardman resources limited

gone quiet, page-4

  1. 2,712 Posts.
    Ye ol man sounds like a good strategy and one I may employ. The half offload pre drill announcement. If the result is good buy back on dip. If the result is bad buyback on adip and drops average price. The only problem with this and the reason I havent done it to date(only been in 18 months) is that the stock is in an ascending trend overall(forget spike up and sell down during drill programs, it should be noted this is less dramatic than post Courbine). I see this stock as taking of with the right results. Banda would have done this for the stock and I cant predict when it will happen. Now there will be more drills more releases and more importantly less time between drilling than last year, with Perth drilled and then Mauritania. I wish I had traded and take my hat off to those that did but from here I am probably looking to buy more at these levels because I dont see it as too far away till the stock is taken on by the broader market. A Twin Lions success could be the catalyst. or the Ching reserves announcemnt. Those who bag HDR are forgetting they have 22% of a large reservoir that will move to production, this stock was a penny dreadful what 2-3 years ago. Few small drillers experience this type of success and if they do it is generally on small percentages or pissant reservoirs. Without falling in love with the stock I gotta say it is hard to criticise the overall progress of the company. My tip is that in the near term they would appeal more to the broader investment market by bumping up their immediate domestic oil production, which could easily be done in some sort of acquisition.
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