I see several efforts to put a value on the Mauritania reserves and other assets that seem to justify a price of perhaps $1.43 (see SSB report). However, that doesn't attribute any value to the exploration upside in HDR. An informed petroleum industry expert explained to me that the most exciting asset in his view is the Guyane tenements, where he said that they have a very large structure that is likely to be oil prone. Clearly some of the other tenements are strong too. I would be interested in views on the relative merit of HDR's exploration upsides from here, including Mauritania. How much would you pay per HDR share for these upsides?
HDR
hardman resources limited
