re: what potter didn't say! Hi Towie,Yes it's true that the oil...

re: what potter didn't say! Hi Towie,

Yes it's true that the oil majors were shortsighted on Mauritania but in those days you could buy a barrel of oil for $US12. Their reticense was understandable. With oil at $70 a barrel, it is bizzare that HDR can't negotiate an acceptable deal for a partner in Guyane. Either HDR are being unreasonabe or they are deluding themselves as to the upside in the province. We've been hearing for years about how they were on the verge of a deal. It was turning into a joke. Now now they say they are going in alone? I N S A N E.




Hi Gerber,

Thanks for the kind words. I'm sorry I haven't been following HDR as closely as the early days. Its mostly because of work and family commitments but I was also stung by some false assertions I was hyping the stock for personal gain. Anyone who listened to what I (and most others on this thread) were saying in 2000-2 would have made a lot of money, but most people lacked patience.




Hi Geos,

Exxon got 13 out of 13 hits in Angola using CSEMI technlogy and the worlds best paid geo's. They invented the technology and know how to use it better than anyone. I saw a documentary on their 3d imaging systems. They have a IMAX cinema sized room which is used to project and analyse computer generated 3d images of the targets. Woodside are drilling dud after dud in Muaritania. If Woodside are having problems what hope would HDR have with their small team and limited resources?

I would be much happier to see HDR accept a smaller % and go in partnership with one of the leading majors. Also consider the tight market for rigs and resources. HDR will have trouble negotiating a wooden dingy to drill this hole and the crew will be a bunch of drunken carribean sailors. A company like Exxon would have its own fleet. HDR doesn't know what to do with the money that is going to be pouring in from Chinguetti. Let me give Simon an idea. Dividends. Give some money back to us instead of throwing it down a hole. If Simon starting talking about a 10c dividend it would send the stock soaring.



Hi Louis14,

Mate, we are on the same wavelength. not very rational given costs/high risks/low level of Hardman expertise factors outlined.




Hi SG,

I also luv the Chinguetti cash flow. We will get triple that from Tiof and then another Ching sized field coming on line every year for the next decade. HDR will be spitting out cash, but lets see some dividends. With the recent success rate with wildcats in Mauritania I want to see some risk sharing in Guyane. Simon needs to get realistic and accept the best deal on the table, even if its less than his cherished 40% equity target.