Great news. The cash flow will help finance Mauritania...

Great news. The cash flow will help finance Mauritania development.

4000 bpd x 365 days per year = 1,460,000 barrels per year

HDR owns 22% x 1460000 = 321,200 barrels per year

$US30 per barrel x 321200 = $US 9,636,000 HDR revenue

$US 9,636,000 HDR revenue @ 0.55 = A$17,520,000

Assume operating margin of 80% gives HDR profit of $14m divided by 420m shares on issue gives an increase to EPS of 0.033. At a PE of 8 this should lead to a 0.26 increase in the price of HDR. Most brokers have valued HDR at 1.20 or more based only on Mauritania so this is a nice little bonus.

Dodge1964, looking forward to your numbers...