HDR hardman resources limited

Rager,I am pleased that you seem to be happy with the job that...

  1. 800 Posts.
    Rager,

    I am pleased that you seem to be happy with the job that the directors are doing. You just have a diferent perspective to me.

    I think my concerns are more than paranoia.

    Let the facts speak for themselves.

    There has never been a better period in recorded history for oil companies. Even heavyweight bluechips like Woodside have more than doubled in price in the last 12 months. On the other hand Hardmans share price is down nearly 10% now.

    Five consecutive dusters in Mauritainia. Are they scientific or relinquishment wells? Who knows? Does it matter? Not to you it seems.

    Public fueding and bad blood between Simon and Hardman's major partner Woodside.

    Failure to find a farmin partner for French Guyane after 12 months of promises that an agreement is weeks away. If you can't interest oil companies in a JV when prices are near $70 a barell then when can you?

    Contradictory, vague and misleading announcments to the market and shareholders. The market is not stupid and will punish perceived incompetance very harshly. This is evident in a share price rapidly retreating towards $2 when it should be at least double that.

    One week Tiof is a billion barrel find and the next it is a bowl of spaghetti and could be too difficult to retrieve. Surely after 6 successful test wells and a flow test exceeding expectations they would be in a better position than to come out with all the market dampeners just prior to a commerciallity decision that is as good as signed as far as Simon is concerned, however verging on uneconomical according to Woodside.

    If you are happy Rager, and feel that your directors are doing a great job then you probably know much more than I do.

 
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