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HDR valuation spreadsheet

  1. The URL below points to the latest Mauritania prospect valuation spreadsheet:

    http://home.mindspring.com/~smstuart/myfiles/mauritania_winners7.xls

    On a risk adjusted basis HDR is worth around $1.44 using extremely conservative probabilities of success. More realistic POS's give a valuation closer to $5.00. Unlike other speculative stocks, the resolution of HDRs uncertainty will occur soon. At the conclusion of this years drilling season, within the next few months, HDR will be worth either five dollars, or fifty cents. It's a gamble, but unlike the lottery, you can buy a ticket thats worth $1.44 for the price of $0.75.


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