hdr mim wmc refresh the memory, page-3

yup

all this talk about Flamant - seemingly suggesting that it is the final straw - its all bu*llsh*it - by next week it will be last week's news.

Unfortunatley, one gets the impression our Mr Potter panicked - and had a nervous breakdown imagining the share price getting to 80 cents or less. I now I was.

The reality is, that our Mr Potter has been largely to blame for the share price fall - OK - the string of dusters and Ching downgrade was nothing to do with hjim - but the way he presented the data has been very poor. What's worse, good news have been downplayed and then ignored.

however, this is an interesting play - say you have never been a Hardman investor - there is an interesting option play here - buy at $2.02 ro $2.03 - b*ugger all downside (if Tullow stays) and heaps of upside potential.

Tullow will win either way - if there is a higher bid - they make a profit. If not - they get Hardman for a song.

Of course, I am sure Tullow did their Hardman numbers based on Uganda, and probably were very conservative about the assets they know little about. I am sure they would be happy to pay up to at leasat $2.50 - and Tullow being canny Irish, their first offer will not be their best offer. Tullow are in a win-win situation.

So any plays around this level could flush Tullow to make a higher offer.

The main looser from this is Potter - he will have little respect or future in Tullow - they are an aggresive and focussed outfit - and Potter has shown how weak and easily panicked he is under pressure.

If the takeover fails, Potter (and the current board) have no future with Hardman either. Loose - loose as they say.

As I mentioned on another thread, I am starting a book on the the period covering Potter's being at Hardman.

My own files and knowlege is a good start - but will shortly have a website up to attract information (hopefully company insiders sharing information - especially after they are shown the door by Tullow).

I am relying on all the folk at HC to provide wisdom and commnetary.

The website is www.hardmanstory.com - and you should be able to start emailing me ahead of the website at [email protected]

All in all - I think purchases at $2.03 is a good idea - and I think that more shares have tradeed at 03 than 02 in the last two days - so obviously the smart money see it as a smart strategy.