farewell hdr, page-16

re: hardmanites: farewell hdr I faxed my yes vote on Friday and will elect to receive scrip option...It's the best deal and it seems the banks with control of a blocking stake have been unable to extract a better offer. The continuing bad news froim Mauritania has made that more likely as the time has passed.

Good luck to all who hold...and those that have sold already. I have enjoyed the dialogue with a dedicated and knowledgable group of investors/traders. I've also learned nearly all the hardest lessons of investing during the 6+ years I have been an HDR shareholder and even more so as an option holder all those years ago.

regards
DF