re: WHY THE DROP??? - market influence i think the fact is that the market is dropping again today hence bring some negative influence on HDR share price. If you watch the trade today, there are still some big buyers snapped up big sellers in a number of occassions. Overall, it held up pretty well above the support price of 82 cents. also volume is quite light today so there is not any big concern of heavy selling.
Tomorrow we might see the result of the oil quality and flow. About the the reserve estimate, if I'm not wrong, Ted says it will be confirmed after the drilling of Chinquetti-3. But the success of Chinquetti-2 itself has greatly improved the reserve expectations of Chinquetti field as it has proven the northern flank of the structure.
In my thoughts, the medium and long term holders of HDR shouldn't be worried about the daily fluctuations. We are all know HDR has a massive upside potential. In the next 2 weeks, Banda will be drilled. If this well is a hit, I'm quite sure HDR price will shoot to mid $1 level, and who knows some big oil companies might make a take over move.
I'm holding HDR at the moment and will stay that way because I'm sure the risk involved justify the potential return !!
HDR
hardman resources limited
