re: ubs research view -turlet Hi Turlet yes Hoot is fine . REDUCE from Huntley,s they havent got a clue.
This from Etrade site clearly a different view than ABN
Huntleys' Recommendation
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Last Analyst Update: 10/02/2005
Recommendation Reduce
Last Price 1.96
Market Cap 1,287
Sector Energy
Rating Outlook
HDR is the most leveraged of the three Australian listed players in Mauritania. It has five times the leverage of WPL and 1.5 times the leverage of ROC. The market is presumably paying a price for this leverage with the shares trading at a 20% premium to our valuation. HDR currently has no production although it does have plenty of cash. Further its asset base from a value point of view is primarily Mauritanian. Sovereign risk needs to be seriously considered. That said if its high risk exploration leverage you are chasing, then HDR is the way to go. An indicative 7-9 well exploration program in the Woodside JV Mauritania areas will start in mid 2005. On balance we will retain our 'Reduce' rating.
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Broker Consensus Estimates
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Last Analyst Update: 17 March, 2005
Strong Buy 1
Moderate Buy 2
Hold 4
Moderate Sell
Strong Sell
ProspectFcst
0 1 2 3 4 5 6 7 8 9 10
Number of Analysts
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Aspect Key Measures
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Value Risk Growth Income
N/R 3 N/R 5
Not Ranked Average Not Ranked Lowest
More Info on key measures
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