announcement coming- uganda update, page-6

LOL........Hope they remembered the drill bit.

Hi there abuman,

ROFLMAO.... imagine if they announce that there's been serious flooding in Lake Albert and the rig's drown! :) Anyway, shame about the current situation, but doing a quick sum in my head... hdr's revenue was expected to be around 150 mill for 2006 at US55 and a slow ramp-up to peak production by June. We're effectively only slightly worse off now given the high oil price and rapid ramp-up. The expected date to rectify the problem (end Q3/start Q4) will no doubt hurt revenue, but this IS temporary, isn't it? They are already planning sidetracks for the 6 production wells, and the gas compressor onboard BH will be fixed/replaced. Isn't it ridiculous that some 320 million has been wiped off hdr due to a potential loss in 2006 revenue of c.50 million? With 2007 expected revenue still the same as previous forecast, I think we're now in oversold territory with a few important news coming up, and Uganda value pretty much non-existent.

Anyway, I bought another 25k this morning at 1.91. IIRC, we bought some at 1.795 not so long ago. Great minds like alike mate.

Cheers,
618

PS. see ya on the 23rd. can't join you boys for boozy cos I'm only taking 2 hours off work. Couldn't get the day off.