acamasSeems completely speculative for you to say other...

acamas

Seems completely speculative for you to say other companies looked at HDR before Tullow but that HDR turned them away in favour of Tullow's bid. And Tullow's CEO Heavey seems to have been happy to take the risks you mention???? What you are really saying is that because the SOA will prevent another bidder looking as closely at HDR as Tullow was able to .. they will be taking a risk. That's true and that's why I and others are pi**ed off with Potter for agreeing to Tullow's terms.

Large oil companies take these sort of risks all the time and in any case buying HDR would be small beer for companies like Shell or Exxon.

Sure the selling could easily have been shareholders exiting relieved to have got all or most of their money back .. but the question is who has been buying in such volume. It has to be someone like Merrill Lynch acting for Tullow (or perhaps another bidder), or someone contemplating a counter-bid.

We will see pretty soon I guess as they will have to declare a sustantial holding within a week or so I reckon.

H