Hi rayrac
UK just following Oz I think and fall in POO (and related rise in $US) is causing an overdue correction in oil stocks which have run very hard lately. HDR is not a producer and as such it should not fall as much as say a producer that is unhedged to POO.
News of the JV's drilling schedule or Guyane farm-in will repair the damage. An update on the program could hapopen anytime - in previous years its been later but then they didn't have drillships already on-site and contracted, so soonish is entirtely possible. Guyane could be months away. The other left-field possibility is that the JV will announce an appraisal on Banda early in the program (May/June??) and make positive noises about a gas development. Simon Potter said some positive things about BG and a gas development in the recent Open Briefing I think.
Its all good long-term, so buy the dips is my opinion, with downside to around recent lows of $1.85 being likely (and not much lower IMHO unless POO falls below US$48).
H
- Forums
- ASX - By Stock
- 1,807,461 @1.9950 after hours !!!?
HDR
hardman resources limited
Hi rayracUK just following Oz I think and fall in POO (and...
-
- There are more pages in this discussion • 12 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)