re: voelte admits responsibility..... Reading between the lines of various articles on WPL, it is unlikely that there will be a downgrade 0f reserve in Ching. A review is NOT a downgrade, although in HDR's case, the public interprets it as such, only because of the general association with HDR's "bad news syndrome." What if the review turns out to be an upgrade?
WPL seems to be in admission (in bits here and there) that they have stuffed up.
I think this is done deliberately to soften the bad news to the public about the question of their (in)competence
I think Hardman's own study will probably show an upgrade if anything.
Can't wait for HDR's half yearly Rept. IMHO all the bad news are known, only the good ones are left, as reflected by the SP of the last couple of days. Uganda just might turn out to be the monster that will save us, and Flamant the outsider.
We'll have some hints by next Tuesday.
We must not overlook the fact that regardless what is reflected in the SP of HDR, HDR's exploration success track record is still very good including all the dusters in Mauritania (better than one in ten I think you'll find).
In other words, look at the big picture. If all the brokers and analysts are that good, why arn't they in oil exploration? They won't need to explore, drill or test wells. Just sit in their offices and shaft the public !!! which is what they are doing now probably.
HDR
hardman resources limited
