what do you think about HHR becoming the major SH? Can they assist PRM to farm out Big Apple? The team at HHR have some experience with farmouts and have $20m cash in the bank.
HHR's major project, Anning/Sommerville, in the UK North Sea is in a holding pattern until the new Labour Gov't formalises the tax regime for UK O&G. Project was very close to FID until Labour announced an intention to increase taxes and reduce Investment Allowances. Budget is in October where we get the detail. HHR really needed another project, in another jurisdiction, to advance while the UK government makes its decisions.
Interested in what PRM holders think about HHR coming onboard.
PRM Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
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