HDRWMA .. hot this morrow, page-16

Towie,

In the scheme of thing it really dosn't matter... Either your in or out until Chinguetti-4-2 results come in, also my belief is that the generous expiry date will allow almost a completion of the 2002 HDR drilling schedule before this warrant expires.. What I cant really get my mind around is why Macquarie would accept the risk associated with issuing this warrant on a speculative oiler? If I was the actuary who ran the numbers I would be looking for another job or then again it may be their lucky year?

Regards