You could be right @Byron . I mean how long can HHR hold its breathe for? The problem with single asset companies is that they live and die on that single asset. I don't think that HHR has enough cash or time to pivot to a new project in another jurisdiction. We live in hope that Rockrose either have a plan and we are carried along with them or that they throw us a few crumbs to buy us out.
HHR aren't alone in this situation . Have a look at Deltic Energy (down about 84% in the last 90 days) and Jersey Oil and Gas (down 50% in the last 6 months) Both are in a similar situation to HHR, minority partners in a JV in the UK North Sea.
IF Labour does amend their policies to allow the development of this project then "fortune will favour the brave". Certainly RR are picking up some apparent bargains right now however they have the luxuries of being well capitalised, privately owned with a long term view. HHR has none of these.
HHR Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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