HDR hardman resources limited

Hardman

  1. 913 Posts.
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    Today has again seen the workings of the speculative side of the stockmarket at its best.

    Simply, we have two forms of "investors" at work with HDR. First are the traders who want and expect immediate and short term results and the second is the longer term investors who see a story and want to go with it.

    As of today both groups are suffering.

    It is easy for people to be critical or smart in hindsight but Thon could have gone either way.

    Traders, you need to listen to the likes of Yogi and get out before the announcements!

    Longer term investors you need to think about why you have become investors....HDR has some very exciting acreage to explore (heaps more to come)....The largest oil and gas company in Australia (Woodside, in turn 34% owned by Shell - one of the biggest oil companies in the world!) continues to buy into HDR at relatively high prices...WPL makes no secret of its excitement about Mauritania...HDR has a lot of cash (~$50m if I recall)....Chinquetti has already been proven up to be a production find (the only question remaining is just exactly how good is it?)...Banda was a separate discovery and could easily end up in production...Woodada producing and Jengemia with potential

    There will never be (nor has been) a 100% success rate with oil exploration (except maybe if only one or two holes were drilled).

    As such investors be patient and hang in there, traders be patient you will get another shot at this very shortly.

    One final thought... I find it interesting that Woodside and Hardman, at the eleventh hour, farmed out such a large percentage of Thon. Perhaps Thon was really just a test well with very little overall hope of discovery but rather a "learning" well . Reality is Woodside (and HDR) whilst they may hope, do not expect every well to be a winner!!! Did they expect this well may not??

    I wish I owned Woodside shares 18 years ago when they were below $1.00!!!!!!!!!

    Cheers
 
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