A report by Canaccord posted there values HDR at a risked value of 56p and unrisked at GBP5.67. That equates to A$1.50 and A$15.25 at current exchange rates
Last night the stock closed in London (AIM:HNR) at 27.5p which equals roughly AUD 74c or a premium of 10% to the current ASX price of 67cps.
The company is sitting on a far bit of cash and drilling in Mauritania is due to start in Aug/Sep so one would expect market to move up in speculation of testing the upside
HDR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
