re: new wpl - hdr ann - back from syd mtg Hi all,Have read most...

re: new wpl - hdr ann - back from syd mtg Hi all,

Have read most of today's Hdr posts ..... interesting !!

Having attanded today's Syd mtg & then, as per our tradition, "had a few" with Hardmano, Dynafish & a few other HC"s (but non posters), can only add that:

) Simon suggested that the current share price (of 1.90 ish) was underpinned by Chinguietti alone - so everthing else - Tiof etc, that you believe in is yet to be added to valuation!!

) Also alluded (tongue in cheek) to - what would any major pay for :- a 1bbl field (ie Tiof), with all contracts with govt in place ....... however with a few technical issues, if it's too hard for WPL ??? .... duh !!!

) Simon also suggested that Uganda might just possibly be our Christmas present - having seen it's potential that wasn't apreciated by the past reigime he has fastforwarded the drill program (2 holes) here !!

) Also has a different approach to Guyana - leave the elepahant (Matta ??) till after proving up a smaller but more probable area - which will then attract the "big" interest.

Simon came across well from a technical point of view - obviously giving confidence to long standing holders like myself - however could improve lots on body language skills (however I can be critical in these areas, but would expect better from someone at Simon's level !! - but often this is not the case - so Simon - if you improve in this area you will be above your peers !!)

We can all speculate as to WPL decision to "let go" its holding stake in HDR - perhaps :-

1) WPL is suggesting HDR has come of age & now longer needs "big brother" under the agreement (which expired 1/12/05) - nb - it's 10% Hdr stake is petty cash for WPL & they made 70% or so return on their investment in a couple of years !

2) WPL has an interest in BG or GdeF (for their gas experties) having a larger stake in the area.

3) It's late & f**k knows - only time will tell - but I believe Simon's story - so if it opens low - Snoball will be topping up !!!

Cheers to all,
Snoball.