*what an absolute bargain*, page-31

re: *what an absolute bargain* .. davfitz davfitz

Thanks for the info. Regarding cash burn ... my feeling there is that Simon should have been using the ANZ US$100m facility for Chinguetti development costs ... but instead he has been using available cash. What is he going to then use the US$100m for??? I reckon they will be OK by and large but I wouldn't rule out a small placement (<$100m) at some stage.

Tiof is what has me worried .. and the market's response to a possible delay. I hope I am very very wrong. Tevet Deep success could save HDR ...but that's by no means guaranteed.

My overall feeling is that we are in for a very volatile time as the oil price, market correction, drilling results and news of the Tiof development decision all collide over the coming week.

H