HDR - 133 m Hydrocarbon Intersection, page-6

My interpretation of this success at Banda is that they have proved up a different type of play (trap structure). Unlike the salt dome at Chinguetti this one had lots of gas and some oil.

I would expect that the traders won't think this is a fantastic result so there might be an initial sell down. But longer term you need to remember that there are 20+ salt domes in the WPL/HDR/ROC/FOG blocks and then there are is block 7 in the near term and blocks 1 and 8 further down the track.

HDR is indeed a winner but it will take a significant flow rate at Chinguetti to excite the punters.

Cheers

H