Hi Jocam. Goodness me Jocam I cannot understand why you comment about HDR and AWE in the same breath having good assets. I should have hoped that it was pretty clear that HDR assets are not in the same league as the assets of AWE whos assets are far superior. HDR could not even get the righs issue away in full. And their assets are highly dependent on the whim's of Woodside who could well bid for them when the HDR price falls to a more acceptable lower level. They may not get Mauritania into production and their Mauritanian assets may not turn out to be worth much at all. I personaly feel that the HDR Management are fully aware of the importance of finding other ' more meaningful' assets, maybe closer to home. The technical position of the shares is a completely different matter. Quality of assets and earnings is what matters in comparative share valuation and in that regard my point is that AWE is in the Front league, way better than HDR . I know what I say will be pounced upon and it will be interesting to have some meaningful debate. However that is my opinion. AMU , I believe that one must change ones mind if it is deserving of that course of action.But if I may say so I personally would not have given prominence to the 3 dusters but have slanted the comment more to mention the 3 hits as the dusters are small losses and do not last,and the hits are Big profits in a way , that is 3 hits out of 3 on this new aquisition. I personally think this is very important for this company which is in profit. However I believe this latest drilling is excellent and therfore my view of this company as to the probability and size of risk is afirmative. Red creek could be a real Beauty and AMU could therfore Become a 'Cinderella' after this latest step out well. This last announcemet was , in my view, more significant than if first appears,and the company also says that it could be a prelude to a multi well field which would be excellent. The stockmarket rewards risk and not much else. Best sincere wishes to you Jocam. B2
