angers
Very very interesting article...good to get the inside story from Heavey. What this tells us is that we were definitely shafted by Simon (over a friendly dinner no less). It also tells us that HDR has been in Tullow's sights for some time, and that there has therefore no doubt been a prolonged share price manipulation. That makes the arguement in the article that TLW may have paid too much look like the BS that it is ..... they got a bargain! The sp was forced down by institutional and ML selling/shorting .. and hay presto we have a takeover.
The other point of interest is how quickly it seems the institutions abandoned HDR .. from 40%+ ownership to just 10%!! Instutional buying is great and can lead to good long-term share price appreciation .. but when they dump .. look out below!
The chance of another bid IMHO depends on what news HDR releases in coming weeks. Guyane.... possible, Uganda ... nothing I reckon, Chinguetti plans...nothing I reckon, Tiof and Tevet .. not a chance. Not much likely then .. so another bidder will have to go in "blind" on these issues and is therefore not that likley. Perhaps as the article suggests Tullow itself may now be the target of majors....so there's upside for us there! Maybe Simon IS a genius after all ... LOL!!!!
H
HDR
hardman resources limited
