unformatted huntley report, page-9

Huntleys say: CY08 "after tax earnings approaching A$500m"

With 660m shares on issue thats earnings of 0.83c per share. At todays prices thats a PE of about 2. The average PE for the Aus oil sector is 15.4. HDR would need to be $11.66 in 2008 to reach the sector average PE.

As for the dusters. Who cares? Even if Ching, Tiof and Tevet are the only oil in Mauritania, we'll all be rich. More likely is that there are at least another 10 good fields in the unexplored 130 prospects. This would lead to another quadroupling of HDRs share price. --> $44

Then we have the Banda/Pelican gas development which will make the north west shelf look like a burning fart ---> $54

Then French Guyana and/or Uganda and/or Fauklands will be another Mauritania, so thats double again --> $108


Sailorgirl can sell out at $5, Im hanging in for $100. ;-)

Seriously, you can't lose at these levels.