AllThere are many motivations for selling HDR off ... further...

All

There are many motivations for selling HDR off ... further Ching problems, 12 months to Ching remediation, difficulties raising funds to develop Tevet or Tiof (after Chings 'failure" and the placementees disappointment!), Potter knew Flamant was a duster which decreases the value of Blocks 7 and 8 and the likelihood of a gas development, trouble negotiating a gas agreement, the Federal Police investigation findings, and perhaps further problems signing a farminee for Guyane. Any one of these would have seen HDR's sp under more pressure .. and yes Flamant was a duster. A combination of 3 or 4 of these problems would have seen HDR punished severly.

All that aside ..I agree 100% with dodds and jojo .. Simon did VERY little to enhance HDR in his time there and ultimately let us down SEVERELY. The fact that he palyed down Uganda when HDR needed a well proted good news story was unforgiveable, and the fact that Guyane has still not been farmed out has proven to be a disaster for shareholders. If he had handled both of these things better the sp would have been much closer to $2.00 than $1.30 and the offer would have had to be closer to $2.50. So these two instances of poor CEO performance cost us 50 cents a share. The fact i9s Tullow can probably justify buying HDR on Uganda alone ... in any analysis its probably worth at least $1.00 per share to them .. and yet Simon's handling of the Uganda story achieved maybe 10 cents .. for a day or two .. then even that disappeared.

Sure there were powerful forces working to keep the sp down so we can't blame Simon for all of the sp weakness ahead of Tullow's offer .. but I do suspect he is responsible for some of it and maybe more than we will ever know.

H