Bruce,The question I keep asking myself is if HDR had such...

Bruce,

The question I keep asking myself is if HDR had such bright prospects why did Woodie sell their holding in them recently. The more I think about it the more I think the other JV's in The Ching Field turned their backs on Hardman and were prepared to see them go under

I think HDR had rotten luck in that they tried to expand into oil production at a point when their cash was insufficient to meet the necessary extra operating demands on the business. They took a gamble and it failed. If production from Ching had met 70,000 barrels per day they would have survived. It did not and we are all seeing the resultant effect this has had on HDR