re: answer You cannot just assume that Hardman will reach $4 eventually.
One of Simon's major "mission statements" was to diversify or die".
With Chinguetti the only string to Hardman,s bow we are in a very vulnerable position.
All it will take is one unexpected problem with production, or the FPSO (just have major work and sure to be full of problems), further political unrest or a myriad of other risks associated with natural or man made disasters and we are in big trouble.
On the other hand it will be but a slight blip for Woodside.
The time is right for a predator to pounce and the board of directors will be powerless. The days of Woodside protecting Hardman are well gone along with any goodwill.
Sometimes I feel like like a doomsayer, however I could not go on fooling myself forever. A touch of reality can be a very sobering thing.
HDR
hardman resources limited
