hdr share price

Davitz is totally correct when he queries the sp action of this frustrating stock.
With the unexplored acreage it controls covered in salt domes and with geology the same as the GOM and Louisiana (where the fields are prolific producers) coupled with the success rate achieved to date and WPL paying $1.10 per share before the oil was really found, the seeming lack of institutional interest and the blatent S/P manipulation thus far is enough to drive a man to drink!

Trying to rationalise the reason for the continuing selling pressure it seems to me that HDR is not financially strong enough. (unlike WPL with massive cash flows) Therefore HDR will not be able to service the investment requirements of what is now 1/3 of the action. It follows that they will HAVE to sell off some of their interests. I can see no other way if they are not going to continue to dilute shareholdings and S/P.

On the face of it HDR should develope Chinguetti (with its existing multiple holes) as a first order prioritory
to get an urgently required cash flow. Then follow on with expenditure on TIOF production and definitely leave further exploration drilling for later on.
This of course may not sit well with the (now) boss WPL and may also not satisfy the exploration committments to the Mauritania Govt. for other areas.

My head hurts.