HDR hardman resources limited

Takeover Talk

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    From Dow Jones News

    DJ MARKET TALK/AU-EQ: Hardman Jumps On Chinguetti Interest

    [Contact Us: Sydney 61-2-8235-2950; [email protected]]

    1149 [Dow Jones] Hardman Resources (HDR) jumps 4.8%, or 4 cents, to 13-month
    high of 88 cents, volume 2.4 million, as speculation mounts Woodside (WPL) will
    launch buyout due to apparent success of Chinguetti oil exploration offshore
    Mauritania. Market guessing field might hold 110-180 million barrels. WPL is
    operator with 35% stake, Hardman has 21.6%. WPL paid A$1.10 a year ago to buy
    10% Hardman stake, but then stock slumped to low 40s when Courbine well came up
    dry. (IGP)

    Regards M.
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