It could be different this time around as now HDR have found several lots of oil, oil is in worldwide demand and the price is high and going higher and they have $40 million in cash (Plus maybe another $50 million if the placement rumour is correct ($90 m total )to go forward with. The main reason why their shares fell back after woodside injected capital at $1.08 was that there was no further activity till the next year and day traders arnt interested in waiting that long to churn the stock. The next news will be on the next two wells and a much more exciting set of news re production testing of the three wells where they have already found oil.
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hardman resources limited
more thoughts on placement, page-5
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