update: woodside sells hardman stake for a$118.3m, page-27

re: could fall to 30 c ?
WPL's decision to quit it's stake in HDR has nothing to do with whether it believes HDR will rise or fall from here. It really is a question of the reason for them taking the stake in the first place (to provide HDR with financial stability) no longer exists. As such they have offloaded the stake at the earliest possible time (once the agreement with HDR had expired).
A company like WPL doesn't invest in other companies as an investment strategy other than to protect it's core business interests. The 10% stake in HDR was no longer required to protect it's Mauritanian interests and was therefore disposed of. To continue holding the stake would've been an investment strategy that is outside it's core business.
Many people who's level of financial wizardly doesn't extend beyond the grocery budget have suggested that the disposal of the 10% stake is a vote of no confidence in HDR. The opposite is actually the case. It now belives HDR can stand on it's own. A vote of no confidence in HDR would be a vote of no confidence in Mauritania which as has been outlined is not the case given the extent of drilling and funding WPL have committed to the region.