will hdr go back to $1.10?

Not likely, I think.

Yes, in a normal cash issue this can happen, however the situation is different here:

The escape valve no doubt is London where the pace is being set. There is a good demand for stock.

The publicity re DANA has made a difference and holding onto oil assets (stocks) is felt to be important.

There is a general unrest about the lonterm oil holdings of the majors and a feeling that prices -including asset prices may rise.

This in turn has led talk about possible takeovers particularly with Shell in mind.

That the international situation assists with oil price rises rather than being detrimental to it.

The sum total does point to a positive outlook for oilers and for HDR in particular.

That is my opinion,


Gerry