tiof posts another strike for mauritanian partners, page-13

re: tiof tiedback to chinquetti- commercial find-y Hardmano

I agree with your analysis except i dont think the market will push hdrs sp up too much on the lead up to poune based on pounes potential. People will just wait till it is positive (as hdrs sp would not have moved much) and then get in.

I believe the JV should have targeted Tevet as it was a similar play to the 3 wells which have had success and also the possiblility of tieing it into chingeutti. Poune, at this stage of hardmans long life, is risky as i believe it is a similar play to courbine/thon and it can play no part in the development plans of chinguetti which is what they should be targeting prior to development. However if Poune is a success then i think Ted would be leading candidate for the Saltan of Mauritania.

As for the share price I can not see any reason why it is at these levels other than recent equity raising (as you have pointed out) and the lack of information by big brother to keep the market informed. The least wpl can do is show some justified enthusiasm of the findings.

I believe hardman will never realised half its true value until production is online.


GO hardman