HDR hardman resources limited

Research FACTS for followers, page-3

  1. 15,873 Posts.
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    Nice summary with lots to look forward to in coming months and in 2003. I wonder what they mean by an expanded appraisal and exploration program? They are shooting 3D over parts of blocks 3-5 that weren't covered by the 3D that helped target Banda. Let's hope that they are done with "research" wells - Thon turned out to be more about research (and their contractual agreement to drill a well in block 6) than about finding oil. We would of course like them to be targeting the other salt dome structures with turbidite sands.

    The debate today on another thread has been about whether you should trade or hold HDR. I have been mostly holding with a little trading - e.g. I learned from last year's bitter experience and sold some before Thon results. I think that this is a reasonably sensible startegy given that the market we are in is very nervous and punishes any bad news severly, and HDR has proved once again to be very volatile.

    With regard to its share price - the recent placementees here and UK and Europe won't be too impressed with its fall. This could mean a period in the doldrums. We won't get much upside until some more announcements (Dana JV committment to drill and 3D seismic, WPL JV forward plans, and Chinguetti upgrade). Also, until end of November MBL A warrants will be in play, so after they expire we might see some improvent.



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