At the risk of upsetting some of our more conservative and...

At the risk of upsetting some of our more conservative and contrarian HC posters, here's some numbers to salivate over.

Chinguetti = 150 mmbls
Banda = 100 mmbls (could be 200)
Tiof = 250 mmbls (could be 450)

So far = 500 mmbls

Now someone made a statement from the joint venture along the lines of ...
" If oil is less that $25 then these deep sea plays are not economically viable"
So, lets assume the producers want $10 profit.
That leaves a net production cost of $15.
Assume oil remains at $35-40, therefore producers profit = $20+

Therefore 500mmbls x 21% x $20/650,000,000.

That gives HDR a value of $3.20

And that's a portion of Block 4 Mauritania only.

That's means $1.98 is seriously undervalued folks.