re: unstable sovereign risk, page-5

kapo re: unstable sovereign risk These "unstable" areas is where the oil is. We still get the same price for selling our oil from Mauritania as Woodside gets for its oil in Australia. The difference is that a big discovery in Mauritania is 1 billion barrels....a big discovery in Australia is 10 million barrels. So you think the companies that don't step outside Australia are ever going to become a woodside based on those kind of discoveries?

Hardman is the only company on the ASX other than Santos and maybe Oilsearch with the acreage in oil hotspots around the world with the potential to discover long term reserves matching Woodside.

And if you think countries like Australia don't carry sovereign risk, then look at at what happened in the UK last year - they raised corporation taxes from 30% to 50% for oil companies operating in the North Sea.