The article basically sums it up, although it's not fully accurate in parts. Wherever HDR winds up over the next week or so, and I'm not prepared to hazard a guess where that might be, it will represent a bottom. surely just about all possible bad news will now be factored in, while HDR's other substantial acerage has been completely discounted. The issue for potential investors to condsider is: what if the next potential share price driver and how much grunt/slingshot will it represent to drive HDR back up to the $2 mark. We have Faucon coming up, and Uganda drilling, together with impending Chinguetti production. Finally, I am anticipating an almost complete discounting of Tiof by the market (i find this last point almost unbelievable to be writing - how to f*ck up a 1 billion barrel reserve is still completely beyond me).
Based on what I have seen to date I don't consider HDR to be a deal making company under the current management, so it is not likely that value will be generated from this area.
HDR
hardman resources limited
