todays best performing oiler, page-5

I'm confident we'll finish in the plus today abuman. Interesting to note the exploration value KBC Peel Hunt attributes to Tullow's Ugandan acreage. They hold a 50% interest across all licenses. HDR have roughly the same amount of shares on issue with a third of Tullow's holding. using KBC's figures, We come up with around 33 cents per share for HDR's share of block 2.

Too cheap here IMHO ...

From a few weeks ago ...

Tullow, Hardman Discovery Very Encouraging

Tuesday, January 17, 2006 6:26:30 AM ET
Dow Jones Newswires

1006 GMT [Dow Jones]--Tullow Oil (TLW.LN) and Hardman's (HDR.AU) Uganda oil discovery is an "extremely encouraging result and is a big move towards the establishment of a new oil province," says KBC Peel Hunt. Upgrades exploration value for Uganda assets to 43p from 13p per share on this result. But no change to core Tullow's net asset value yet. Retains buy ratings for Hardman and Tullow. Tullow +1.2% at 306p, Hardman +3.7% at 1,965p. (BXF)

http://www.newratings.com/analyst_news/article_1180864.html






Cheers,
xmagx