*what an absolute bargain*, page-51

re: *what an absolute bargain/not???* siameseparrot

Wise words I'm sure. But there's one very big difference between the other major oilers and HDR .. its not a producer. So its share price rise was in anticipation of a successful drilling campaign with very significant upside potential .. and so far it has disappointed!! HDR has very little income and is not benefiting from high prices like WPL and OSH.

Hence it has underperformed...and that's why we have been saying it will be rerated once production starts...1) because it will have significant cash flow and 2) its way behind other oilers so has some catching up to do in terms of valuation upside related to the high oil price.

Its going to be volatile though in coming weeks as I have said previously.

H