HDR hardman resources limited

HDR -3 matters

  1. 53 Posts.
    1. HDR's Ching 2 target depth was some 2835m, but drilling seems to have stopped at some 2655m - has there been comment on HC why they stopped short of target depth, whether there is some positive or negative view about stopping short, whether there is any prospect that they will continue to the target after they have finished testing? (if I missed earlier discussion re this, apologies, but could views be repeated).
    2. Ching 1's oil quality was 31 API? Correct? Where is this quality on the grading/ value/ flow rate scale?
    3. Takeover speculation. I'm no expert, but have difficulty in understanding why move would be made at this point in time. T/over processes take time and with the drilling program underway the outlook would change from the time proposal is made to when voting would take place (positive or negative). The offer would surely have to be very high now (relatively speaking) to get sufficient support to carry vote - and even then would not be acceptable if the next hole is successful, as the first offer would be seen to have a discount factor for the uncertainities of success re hole 2. Am I missing something?

    I have a big slice in HDR.

    Thanks for your informative posts on HDR, even though at times, there seems to be too much hype - then again we can all dream.
 
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