woops, there was a bit more i didnt see at first....I...

woops, there was a bit more i didnt see at first....

I quote:
...HDR's 19% Chinguetti will be followed by the Tiof development which could boost annual equity production to in excess of 10mmbo by late CY08. This would see HDR generating after tax earnings approaching A$500m, assuming a US$60/bbl oil price. HDR is a suitable oil exposure for aggressive, growth oriented investors with a stomach for exploration and tangible sovreign risk.

Please note that I am not a financial analyst and merely repeat the words of the report here for the comment and consideration of others. Whether it is accurate remains to be seen. I do not and am not qualified to make any recommendations about Hardman will make the following point however: in spite of the relative high price of oil over the past 6 to 12 months, 618 in his model, uses an oil price in the US$40/bbl area. I believe that is wiser than assuming it will remain about US$60/bbl.