HDR hardman resources limited


  1. 203 Posts.
    I have just been made aware that Ted will be addressing broker and investor groups in Sydney and Melbourne on 3.12.02 and 4.12 respectively,he will no doubt,have some positive reminders in describing a very successful year's drilling,which has been effectively ignored by investors.Quentin Cameron's comments are spot on for my money,i.e HDR is a standout buy at current levels.

    AWE have announced two test results on Jingemia,so if we assume say 3,000bbs.p.d.,HDR's share of gross revenue is about $11.2m.pa or about 2.6c pershare,so with Woodada gas sales and interest on their unspent$66m.ticking away,they are selling on a P/E of about 15,if one chooses to ignore expert valuations on Mauritania oil and gas deposits, that comfortably support Woodside's initial [email protected]$1.10. 3,000x$US26/.56x365x.22%=$11.2m

    The coming months should see a return of sanity to HDR's pricing,given their extraordinary success rate and very accomplished management.Investors may not see these 'shorted down'prices again ,as the fundamentals are yelling,'come value me'...
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Currently unlisted public company.

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