Oil looks set to break $US48 tonight.
It doesnt look like it will have any impact on HDR in the short term but freak me if its not worthy of a mention.
Someone was concerned recently that as part of the financing arrangement, ANZ may wish HDR to hedge a certain amount of Ching oil at this early stage as a form of insurance. Well if HDR were forced to hedge and hedged at $US40 a barrel, i wouldnt be too concerned given analyst are using $US25 a barrel in their valuations. Though it would be nice to get $50-$60 a barrel in 12 months time but maybe oil will be under $40, who knows.
Take it easy everyone and whoever holds HDR, congrats and toot tooooot.
HDR
hardman resources limited
