re: potter

acamas,

not sure when you would have bought into this company (not that it really matters I suppose) but I along with some others have been riding this thing since 1998. In that time I have gained a huge familiarity with HDR (including going to every AGM and following almost on a daily basis).

I bought my first parcel of HDR at 4c and have seen and held firm ever since even when the stock went to 1.10 then back to 39c, then up again, back again, up again etc!! When the traders and doomsdayers were calling all us "longtermers" and "true believers" id*ots, I didn't budge. I have never regretted holding this stock through the rollercoaster! I knew what this company had and I believed eventually it would pay off.

I still know (at least some) of what this company has! I am aware there are currently hickups, but hey, its when you get through the tough times that the good times feel sooo good!!

The problem I have with what has happened now is that things just don't seem transparent...
The anouncements from the company over the last six months have appeared to be lacking in detail if not with a strangely negative overtone. This perception I have commented on previously (well before the SOA came to light).
TLW are prepared to pay a 60% premium - why? Uganda is obviously good, Gayana has such exciting potential.
But the best of all - the NO SHOW / NO TALK clauses. Am I niaive? Why hide it unless there is stuff that they don't want known!! And you can be sure it wouldn't be negative stuff!

Think about it - a 60% premium coupled with a no show / no talk handcuff! These guys are just being careful they can't be accused of LITERALLY stealing our shares.

Potter's own words are that the premium pays for short to medium term potential. What's short to medium term supposed to cover?...The difficult time that it takes to fix Ching and Tiof? - Well I'm prepared to wait! The frustrating time it takes to get the infrastructure in Uganda up and running? I'm prepared to wait! The possibility that they might have to go back to the banks or their shareholders for a bit more cash - hey that's what its about if you believe in something!

Tullow believe in it, they're prepared to pay a 60% premium...our CEO, no way can't handle it!

Woodside use to be a 40c (share) company they are now $40.00!! Look at their chart. It never went in a straight line. I have been in WPL for 12 years and I assure you there were difficult periods there also, but they made it! They believed in themselves LONG TERM!!

Potter you may be the Man of the Moment. The reality is a moment is a very short time!!


dodds