poo up , hdr $2-00 +, page-12

Mycrowssoft, i`m not sure Hardman is going to shoot up any time soon. It will take a large commercial discovery IMHO to do that and most discoveries unfold over a period of time. The recent discoveries in Uganda for example look very promising but it`s going to take a lot more drilling to prove them commercial.

What i do think though is that we are in for a gradual re-rating as we are now a producer with a large degree of leverage to the POO. I`m not surprised the POO has stayed "up" as it has. I`d say most analysts, oil producers are slowly revising their numbers on the POO staying "up" for longer. As they do the oil producers, especially the mid-caps ( Hardman ) should start to be re-rated up.

Now if we can just clean up the "dispute" in Mauritania, announce the commercialisation of Tiof or something else ( Tevet, Banda ??? ) find more oil in Uganda, announce a farm-in partner and drilling date for Guyane then we should move higher. As somebody posted a few weeks ago, there is alot to happen over the next few months and, on balance, IMHO we should gradually move higher.
Don`t get me wrong i`d love the price to shoot higher but i think that will take a takeover which is not out of the question although it will only happen the day after i lose patience and sell the lot!