pull your finger out...., page-3

Seller and 4Ls

This is typical of a period when there is no news on HDR. A few sellers BUT very few buyers so we see a slow slide from the highs reached when the rumour about bank finance for Ching development pushed it towards 60 cents.

Its also not a good time for people to take up new positions just before the end of the fy - more likely this week a few more tax loss sellers will appear.

The JV did meet several weeks ago and then we had the coup attempt. WPL and ROC have said that the JV is reviewing its forward plans in the light of events but that there is no reason to think that they will not be proceeding.

I expect that we will hear something soon but not necessarily before end of June now. The only decision that they have committed to make before then is whether to drill in Block 2.

I agree its hard to keep the faith when its heading down but every other occassion when it has fallen, it has risen again on news.

Cheers

H