Dodge, Your numbers are sound, but the basic premise remains the same. HDR is ridiculously cheap. Assuming Chinguetti contains 200Mmbls, HDR is worth around 60c on that lead alone. For an extra 10c you get HDRs significant cash reserves, 94 unexplored offshore Mauritania leads, Uganda, Falklands, Cliffhead etc. Every broker who has run the slide rule on HDR in the past few months has valued it at over $1. Your friend with one million shares is a smart cookie. You're not tempted to take another bite?
HDR
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