HDRWMA .. hot this morrow, page-26

totally agree. MBL would hardly be naked on these warrants. I think you will find that they have bought parcels of shares as they let the warrants go / or were working from a long posi. At 10c a pop they have probably just put the best part of a million in the bank.

We all know what delta hedging is then rest assurred MBL have a hedging plan. I think it was interesting that they pushed the selling through prior to results on this well - all completed today in a bit if a rush. Supports the theory that they have no interest in the drilling / oil potential. Maybe they also want to be ahead of other warrant issuers when HDR become a "major" ( wishful thinking on my behalf ).

Could someone please explain how the warrants cease to exist if a takeover is announced. I was led to believe that the warrants would still exist and that they would only be affected if the takeover price was low. So if co A bids 1.10 for HDR then the warrants are worth at least 17.5 cents. Would expect that if someone wanted to buy hdr today they are going to be paying more than 80 cents.
Would appreciate comments on the above from anyone who is 100% certain.