HDR hardman resources limited

quarterly - as expected but block 7 looks interest

  1. 15,973 Posts.
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    HDR's quarterly report is out and it is much as expected. We should know which leads will be drilled in the central blocks of the WPL/ENI/ HDR etc JV and whether Chinguetti development will be approved within the next few months. And a decision is due in June on drilling in Block 2. Debt funding for Chinguetti development is being pursued - this would be good for shareholders as it will avoid further dilution.

    The lead that the Dana/HDR JV is now committed to drill in Block 7 later this year looks interesting. Its in 1,700 metres (deepish) but they estimate it could contain up to 300 mbbl recoverable.

    And locally the Leafcutter oil and gas exploration well will spud late May.

    As for the last 2 years the next 6-8 months for HDR holders/traders is going to be a lot of fun - and volatile!


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