re: tiof tiedback to chinquetti- commercial find-y...

re: tiof tiedback to chinquetti- commercial find-y Congratulations to all the long term HDR holders. We have been vindicated yet again. The Tiof find increases the POS (probability of success) on the remaining prospects and therefore significantly increases the intrinsic value of HDR.

Since 1981 more oil has been consumed each year than has been replaced through exploration:


In an article named “A revolutionary transformation ” the president of ExxonMobil Exploration Company, Jon Thompson, reflected on the challenges that lie ahead in finding and producing future supplies of oil and gas:
"In other words, by 2015, we will need to find, develop and produce a volume of new oil and gas that is equal to eight out of every 10 barrels being produced today".

Hardman has what the oil majors want. A large, proven new oil province with lots of upside. If Ted is smart he will put HDR on the auction block at the conclusion of this years drilling campaign, then retire to Bermuda, along with his loyal shareholders ;-)

Sorry if I have been relatively silent this year. Work has kept me busy, and the knowledge that HDR is trading so far below its instrinsic value that whatever the short term volatility, significant long term gains are inevitable.