re: what potter didn't say! HDR must be very confident of Guyana to go it alone. The alternative is that the others did not like the conditions HDR was asking for.
The risk $20-30m, the reward 2,500Mbbl at US65/bbl. A negative will discourage others farming in although I doubt it will be worthless. It may drop the farm in price by half or so depending on what the logs show.
HDR do have a large cashflow about to start when oil is very high. They are not betting the farm.
Ching: HDR do not need the technical expertise of an Exxon or BP to help choose leads, interpret seismics, organize drilling. There are any number of small oil exploration companies in Australia who are operators. The expertise is widely available through HDR's own staff or outside contractors.
G
HDR
hardman resources limited
re: what potter didn't say! HDR must be very confident of Guyana...
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