Blackscorpion
London brokers are for capital raising later in the year as forcast by Ted on a number of occassions. Probably after successful drilling like last year. They are going to need plenty of cash to fund the drilling this year (particularly Blocks 2 and 7) and then next year there will be the same again offshore Mauritania I would expect, plus possibly drilling in Gabon, Uganda and Guyana (HDR has large equity in the last 2).
Nevertheless I too would hope that they do a bit of promotion of HDR in the lead up to any raising - that's when we might see some action.
I would expect a significant move on HDR over the next couple of months particularly when Chinguetti development plans are announced and of course once the latest Macquarie warrants expire at end of May!!!
Cheers
H
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