about US25 mill. Not huge, but significant. What we can;t...

about US25 mill. Not huge, but significant. What we can;t measure is the intangible, hidden costs of having the area's prospectivity downgraded slightly by a dry hole. Risk v reward is not restricted to the one well being drilled. I know one well shouldn't change the prospectivity of a region, but it will make life very difficult for Hardman to negotiate a deal that they want if the first well is a dry hole. Then again, watch them flock to Hardman if they hit the black stuff. I'd personally like them to bring in a major partner prior to drilling the commitment well, but if they can't agree a term with anyone, relinquishing the acreage is out of the question. So drill it alone it is :)

Abuman, you are right about the volume, it has dropped off completely. The end of the excess stock form the Woodside sale maybe near, which speaks volume for the quality of Hardman's stock in that it has been able to absorb any extra 65 million shares being "dumped", albeit in a controlled manner, and still come out of it relatively unscarthed - current price is close to the one just prior ot the trading halt.

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