Oil price is helping both but why the very big run in WPL?? I suggested this morning it might be a 'defense" of WPL against a rumoured $28 merger offer from BHP. Several other possibilities come to mind so I might as well spread the rumour:
1) WPL could be preparing to takeover HDR via a share offer - always possible but much better for WPL with a high sp.
2) The WPL insiders and their mates and the HDR insiders and their mates know how promising this year's exploration targets look with the CSEM data. Remember that this year's program has the potential to add 500mbbl to WPL reserves .. that's got to be worth $5b (at $10/barrel) .. and if the program has been significantly de-risked by CSEM ... what a buy!!
Only question with the latter scenario is why isn't ROC rocketing?? Makes the former t/o scenario look more likley.
Just speculating...again!!
H
HDR
hardman resources limited
hdr and wpl rocketing ...?
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