woodies sells out of mauritania..., page-8

Hi SG,

Nice to read you are still about.


The future of Hardman is or was the equivalent of "X" the unknown factor. It is just with the huge drop in output from The Ching field I have convinced myself Hardman would have run out of cash or been facing a massive credit crunch today. Their outgoings would have been much higher than the incoming revenue.

I think Woodie are selling for $400M+ and they say their outgoings on Mauritania were around $1 billion. Based on that I believe the odds were heavily stacked against HDR surviving as an independent oil explorer

I wish you luck with you investments, pleasant sailing

regards

Acamas