Oil companies are having trouble with two things at the moment; increasing production and getting acreage. Hardman provides both, and without Woodside's holding are now wide open for takeover.
It is almost hard to see this not happening given Chinese and Indian state companies bidding so aggressively for any available acreage. The only way open for many other oil companies to expand their position is through acquisitions
The only odd thing is why Woodside wouldn't negotiate directly with a preferred partner, but nobody ever claimed that Woodside had commercial savvy.
HDR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
