energyreview's slugcatcher says hdr is a bubble , page-7

Hi Blackgold ....
Re. the Energy review article.
I believe about $1.40 -$1.60 is fair value for Chinguetti alone. So at the moment, pre Tiof and Banda evaluations we have about 50 cents speculation built in.
The spec component will increase over the next 4-5 weeks and we should see the SP at $2.50.
But it's not the usual spec with this play.
As you say, Miocene channels and 3D seismic has taken the risk factor almost away.
But ... should the first new exploration well be a failure,
then ... watch out below.
The market will dump HDR back to $1.00 in no time.

Of course HDR will recover as Tiof and Banda are confirmed. Fair value should be $3.00 - $4.00.
So there's a bit of volatility ahead.

Of course ... should another Tiof be discovered.
Woooossssshhhhh!!!!
And dont forget Matamata.
Woosh again.