events and price thoughts, page-5

I know what you mean about the speculation behaviour Giddy.
I always remember Hardman in its run up to the large Chinguetti discovery. For months it had traded in the 5-10c range with the farm out deal all done, then in the last 6 months to drilling after the drill date announcement it stepped up to a trading range of 30-35c . A bit over a 4X increase.

Clearly its hard to compare directly the two companies but there are similarities. HDR from memory had about 400M shares verses our 540M. HDR had some minor production but not as consistent as NSA. The prevailing oil price was mid 20's verse $100ish now. The target was around 180MB (later revised down) of which they had a 22% share or a predrill target of 40ish MB...we have a pre drill target of 160MB for our share! Both companies have/had multiple elephant targets.

Like you say much depends on the general market at the time but its food for thought should risk takers be back in abundance.