Dated Brent is up 1.43 to 64.26, I think HDRs share of Ching is tied to this, albeit that they're discounting by a few dollars from this price. All in all I can't see HDR averaging $45/bbl this year, looking more like $50-$55, which will impact on the bottom line very well indeed.
On another note I see that the interest rate on Ching loan is 13.17% (from the financials las Friday), currently equating to about $11m AUS per annum for the loan they've already taken out. I'm glad they'll be paying back the loan as a priority, probably more as they have less drilling costs this year due to the delay in Attwood Hunter's arrival.
cheers KA
HDR
hardman resources limited
