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MARKET TALK: HDR Delays Decision On Tiof Field 26/10/05 11:11:00

1111 [Dow Jones] Already rattled by Woodside (WPL.AU) comment that Tiof
structure is akin to a "bowl of spaghetti", Hardman (HDR.AU) now says commercial
status of offshore Mauritania field won't be clarified until next month. HDR had
predicted that status of Tiof, which might hold one billion barrels of oil,
could be known this month, HDR chief Simon Potter says "work is ongoing." HDR
has 21.6% stake in Tiof, stock off 20% since late September amid fears operator
WPL may delay Tiof due to development costs. HDR last up 2.8% to A$2.01. (SPB,
IGP)

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