Hooter,
HDR is way over sold on fundamentals and technicals. WPL is now using $US55 to 60 /bbl for their oil assessments. This is well above WPL's earlier figures, and if we apply this to our HDR models, we will find HDR worth well over $3.50 per share on chinguetti and tiof alone. Just look at the way WPL has crashed during these last few days to see how the unwashed have over reacted on the downside to a weakening in the oil price which is based on only a 1.5% increase in oil stocks. Just wait until US oil inventories drop.
HDR
hardman resources limited
