Joequimby,Tullow probably is aware that the future value of HDR...

Joequimby,

Tullow probably is aware that the future value of HDR might have been $4 to $5, when some of the new areas are successfully up and running such as Uganda and Guyane. Before that can happen somebody has to spend large sums of money and take on the risk that they might only be worth $3.50. Mauritania it turning out to be a rather large headache with WPL saying Toif fails to excite them in reports this am.

Lets keep our feet on the ground $2,02 or thereabouts is where we are and most likely to stay unless a bidding war starts.

Would you pay more than US$1.5 billion to get hold of 20% of The Ching Field, 50% of block 2 in Uganda and nothing else but expectations. I would not and for the price to go to $4 would equate to US$3 billion IMO. I say dream on without wishing to offend Conix

regards