new board for hdr

I don't post much, but browse often.

Thinking about HDR really does my head in. Why did the price get hammered leading up to the Tallow bid? Was it to create a false floor value? Was it to make the bid price appear attractive? What are the intentions of the substantial holders? What sort of return are they looking for out of their holding? Why did the Board effectively lock in the first takeover offer for HDR? What is the real value of HDR? Will there be a second bidder?

What about this scenario to scare the hell out of Harry Potter. The NO vote gets up with the help of the substantial holders, some who bought into the placement at $2.34. The Tallow deal falls through. The institutions sack the board and jocky for positions on the new board (which was their intent all along). They now control HDR. The institutions are comfortable with any initial fall in sp because they will have control of the company's future sp and potential (production, reserves and expl ground - its a no brainer).

Seems to me the institutions could take control of HDR (via positions on the board) instead of making an alternative bid. Harry and his mob lose their jobs and bonuses, and HDR gets a professional management team to take it on to bigger and better things.

I think I like that scenario!

An alternative is that the YES vote gets up, drilling results continue to come in good and a class action of shareholders against Harry and Tallow follows. I hope ASIC are looking carefully at this one!!!

Have held HDR since 1997 and still maintain faith in its potential.