re: where will it bottom - seajay cpecan
Before drilling starts in Mauritania there will be several bits of news that have the potential to move HDR share price. In April/May the Chinguetti development plan is expected and this is to be assessed and is expected to be approved in June. This should give HDR some future cash flow certainty down the track with a consequent share price rerating.
Also, in previous years the announcement of the drilling rig contract and schedule has been the news that has got the market's interest and this has happened in early May.
This recent fall in price mirrors almost exactly what happened after each of the last two year's Mauritanian drilling campaigns. The market still sees HDR as a once a year punt despite Ted's efforts to the contrary. This provides opportunities for long-termers to top up.
Cheers
H
HDR
hardman resources limited
