Another way of looking at the sp: I guess you could say that...

Another way of looking at the sp: I guess you could say that given the other oilers were off 2%+ today HDR would have ended at $1.84 without positive results from Waraga. It ended up 8.5 censt from its low. And .. if Waraga had been a duster .. HDR may have ended at sub $1.80 (possibly towards recent lows).

Now we may be able to look forward to further rises as the signmificance of Uganda sinks in. According to the Info Brochure there's another 124mbbl potential taget with oil seeps and 3 others as potential follow-ups. The P1 upside of the overall fault-bound area shown on page 17 is 1.64 billion barrels. We need Waraga with closer to 100m reservoir and Mputa simialr and we may be able to see REAL potential for say >300-400m barrels recoverable. Lots of work to do before we are there but Simon is obviously pleased with progress to date.

H