who will be the next hardman, page-16

G'day to all the ol' hardman boys. Long time without posting.

My money for the next Hardman is on Tower Resources. Listed on the AIM in London. Easy enough to pick up shares from Aus - I did it thru a comsec international trading account, which was easier than trading on the ASX.

They'll be drilling for as much as 300mmbbls of oil net to them from 2 wells at the end of the year in one of Hardman's old stomping grounds.....Uganda. The elephant country Hardman missed out on.

Two wells for a total of 300mmbbls would be a discovery value of around A$2.80 per share, based on a very modest in ground value of A$5/bbl. Current shareprice is A$0.07. I'll let you do the maths.

The only other companies in the world drilling for those kind of oil reserves in places like Uganda, which is shaping up to be one of the most exciting oil provinces in Africa, are multi-billion dollar companies like Tullow or Lundin. Not companies like Tower with a tiny A$40m market cap.

Huge leverage in an oil hot-spot. That's how Hardman did it and that's how I think Tower will too.

Cheers,
Butcherano.