more on tiof at agm?? rally??

Hi all

Had an email from Dean Richardson at HDR yesterday that indicated that we should hear more about Tiof at the AGM. He re-iterated that the operator has stated that appraisal studies will continue and all the JV partners will work to develop the optimum development strategy for the Tiof field. He also said that HDR supports the view that the need for dynamic data (production test) will help to better define recovery factors and reservoir performance. The internal view remains that a phased development is still the likely outcome.

Sounds OK to me..I hope he is correct. I'm getting a little less concerned. I wonder if we will get a pre-AGM rally with POO rising and in anticipation of some positive spin at the AGM? I will start accumulating now but leave the bulk until after Tiof's future is (hopefully) more clear post-AGM or JV announcement. I note that in today's AFR Macquarie have a "outperform" on HDR and its one of their top picks (does that mean their warrants have expired worthless and they want you to buy the next lot???). They expect HDR to be rerated on Chinguetti production and have a target of $3.08.

Is anyone prepared to take some questions to the AGM and provide feedback to HC???

H