tracking along nicely - accumulation?, page-3

Hi abuman and xmagx

I will have to look at the Business Sunday report. I'm currently having a "working holiday" (beach and checking out some real estate) at Port Macquarie so I'm only checking in on the notebook periodically thru the day. Great consolidation going on at present. Yes the next 12 months will be huge - WPL indicated that they will be doing a similar exploration program in first half 2005 - fantastic. This year's appraisal (as you say Tiof will be big) and exploration alone has the potential to add several dollars to the sp and HDR is cashed up for 2005 costs as well. Now that the JV's intentions are known I have changed my opinion on the capital raising (even the placement to some extent) - and I've talked to Dean Richardson about this also. Looks to me like WPL is taking HDR along on a very exciting ride!!!

H