reserve upgrade or downgrade, page-6

In times like this its very important to stay focused and read between the lines.

I have said before that dispite the lower then anticipated production rates, the oil is still in the ground and reserves do not automatically deserve a downgrade.

The announcement from HDR speaks for itself and anticipates a nice upgrade in reserves.
Brokers in the know how will make plenty of money out of the recent sell off, and will be the ones who are now accumulating.

Do not be fooled by all the manipulation and imho we will see HDR going back above the $2 in the near future.

But ofcourse first all those brokers and institutions need there allocations filled with more HDR shares at bargain prices.

With 3 more wells drilled we should be close to original production of Chinguetti once again and we can expect this to be done in the next 6 months or so.

Can you imagine that with an even higher oil price we could be gratefull having still those original reserves in the ground plus the upgraded portion on top of it.

On the exploration front we are due for some succes and you can imagine what another 150 mtr oil column can do for the share price of HDR.

No wonder nearly every broker has a buy on HDR these days.

Good luck to all and keep focused in this panic enviroment.

jojo