HDR hardman resources limited

re: hdr--asc

  1. 672 Posts.

    Your info on prior drilling is interesting. Saudi Arabia has the worlds largest oil reserves with 261.7 billion barrels. So how did the initial exploration program proceed in Saudia Arabia? Did they poke a hole in the ground and find oil with their first two wells? The answer is no. The first 6 wells they drilled were dusters. Not a sign of a prolific oil province by your reckoning. The oil companies were about to throw in the towel. Only well 7 in March 1938 struck black gold and the rest is history.

    A more modern example is Equatorial Guinea, south east of Mauritania. A smallish independent oil company, Triton, had several dusters in the early exploration of their Ceiba field but this did not prevent their ultimate triumph. They just got a takeover offer for US$3.9b.

    Using modern technology HDR is sitting on a POS of 50%, 1 out of 2. If the POS on the remaining leads is only a measly 20%, HDR will be worth a fortune.

    Besides, if you were at a dinner party would like to sit next to someone who made their fortune selling rubber d*cks? Yuk! I'd rather make my fortune on sweet light crude than water based lubricating oil.
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