westmoon and chuckFrom another old fellow ... good analysis...

westmoon and chuck

From another old fellow ... good analysis guys. Yes its been a very interesting experience with HDR and this takeover stage will prove equally interesting I believe.

Simon repeatedly stated that the Guyane farmout would be impressive so it must be to a major. And as you say the majors are after reserves and prospective territory. Shell missed out on Mauritania and HDR has major interests in 3 other potential new provinces ... Uganda (proven now), Guyane and Falklands plus interests in Suriname an Tanzania. This is of course one reason why I and others are so irrate at Potter "giving" HDR away. If Shell or another major has been impressed by the data on Guyane they will be thinking about a bid I reckon. That's probably why Tullow insisted on all the "conditions" in the SOA.

With any luck a counter bid will happen .. at least the SOA allows some months for that to happen and this will also be enough time for the Guyane farmout and Uganda's potential to become clearer. I'm looking forward to KPMG's "defense" document.

I'm back in to some extent, but now that there is a $2.02 floor under HDR I'm not spending all my time watching it .. trading others like OXR and OSH as well, and smelling the roses.

Cheers

H