butcheranoWas thinking of coming over for the AGM along with...

butcherano

Was thinking of coming over for the AGM along with molly if HDR was at $2.50 or included in the ASX 100 - but will have to be content with the Sydney presentation on December 1.

Give Ted and Scott my regards (as Hardmano) and in particular be sure to wish Ted well. My questions for them or at the AGM are:

1) As Capitaine had high quality sands but water not oil, is it likley that the oil has migrated upslope and to the east and that high quality oil bearing sands may be found in the identified prospects to the east? Will they be following up in Block 2 and if so when?

2) If Tiof flow test is good and an early phased development is proposed how do HDR intend to fund this development (i.e. debt or equity). Will it be phased such that the first stage will have a similar capital requirement to Chinguetti (rather than a 3 times or more requirement if all developed at the one time).

3) What's their best guess/estimate of Tiof reservoir size? And is it possible that if there is oil at Merou that there's oil all the way from Tiof West to Merou?

4) Do they think WPL will want to get its equity back above 50% and if so how will they do it? Buy ROC or ROC's equity?? Make sure management knows that we would not want a sell-down of any more HDR project equity to WPL.

5) What's happening with Guyane - really!!

6) What's happening with Chinguetti financing and will it be combined with Tiof early development funding?

7) What's their feeling on Uganda? Potential size and likelihood of proceeding all the way to production with current equity?

That's it for now - thanks mate.

Cheers

H