HDR comparison with ARQ

Did anyone else read through the Hardman annual report and be amazed and pleased by the strength of the company.
At least 200mbls of oil in Chinguetti and Banda with numerous other leads.
Numerous other huge leases.
Cash in the bank. Truly a worldwide company.

And a share price of 66 cents

ARQ is a small gas producer with a persence in WA,a couple of small oil pockets which could be proven up and Debt.

And a share price of 57 cents today.

If the market is prepared to recognise ARQ why then wont it recognise HDR.

I feel that the market is punishing HDR for it's bungled share placement where the longtime shareholder was denied the rewards for a year of patience.

Punters are concerned that the Directors will place more shares into the next market rise further diluting the company and denying reward to the patient.

On the other hand, ARQ has not issued large option packages to staff and has made careful and well placed capital raisings.

This is about trusting management.

Regards M.