HDR hardman resources limited

HDR - Takeover Questions

  1. 8,880 Posts.
    G' Day All

    WPL to make a takeover offer for HDR, that is the rumour today.
    Thinking about how that would workout in the practical sense I have raised more questions than I can answer so anyone who has some input is welcome to contribute.

    1. The drilling ship is contracted for a 4 well period, approximately 4 months? Would the drilling programme for Ching3, Banda, and Thon continue in the event of a takeover? We have been told previously of the programme and have made our investments on this advice surely if it was stopped we would have some redress.

    2. If WPL makes a takeover bid and the drilling programme continues, it is possible that Banda and maybe Thon would be drilled before any takeover could be completed? I believe a takeover would be a lengthy process because I am sure others beside myself would like to hang on. If during the “takeover” Banda was drilled and was a good result a revised offer surely would have to be made.

    3. I read somewhere that WPL need to fulfil some drilling schedule or relinquish certain areas, any information on this?

    Any other thoughts would make an interesting thread.
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