re: tevet..1964dodge there is no insider or manipulation. Hdr is a non producer with a lot of company risk. I can see why when given the option of selling an oil stock it would be hdr.
1. non producer, no cash flow taking advatage of high oil prices and without a hedge. So in a climate where oil is believed to have topped, its not looking good.
2. blue sky was once placed on drilling success, it was somewhere near 100%, now the probabilty of success when looking at past wells is less that 50%. So some of the blue sky shoudl be removed from the shareprice. We can no longer assume they will find oil when they drill as we once did.
3. Talking down toif, this is very bad. without i hdr inst worth $1. Im my opinion woodside is using the current failures to secure better terms in negotiaitons with teh government for gas contracts.
4. soverign risk. one well in one country
Also, selling hdr is a tax loss for the yr opposed to other oiler that have actually made money for people.
there are enough reasons to sell in current environment without insider knowledge. What we need is a few successful wells, and production to start with an oil hedge and then we will see $3. I have always intended to sell for a while at the end of thsi drilling program, it so far has proved very costly. But unlike WPL, dana has no vested interest in a dry hole or talking down the region.
HDR
hardman resources limited
