SWW

How much is that in stirling?

MS

Half a haggis and a tartan jockstrap MS
Nam

As much as that wow!

MS

Are you sure that you have the right HNR seawallwalker? They are ticker HDR in Ossie! About $1.50 something?


Code Last $ +/-....Bid Offer Open...High..Low...Volume
HDR 1.550 -0.120 1.550 1.550 1.650 1.650 1.550 5,690,005

As they say, s***e happens?

It was an item I read last week concerning HDR. I did not think at the time to copy it or check it's authenticity.

I'll do some work on it!

Is it a good time to top up or is the downward trend still in place.

MS

MS
I'm looking for under 60p to jump back in..............I may not find it though!

sandrew64 maybe today is the day - another 3.23% drop in OZ overnight. See it's marked down to 60p ish here before open, but the ask is 62p.

HDR.AX - HARDMAN RSC- ASX - price 1.50 AUD -3.23% - volume 12,214,084

Needs to do better than that today for me I think. 60p ask is about right bearing in mind it can still drop.

Can't believe this stock is doing this, it is back to last years level almost!

Chinguetti is no longer in the price imho, nor tevet or tiof.

Bogue at 2billion and a 13% hit rate to be drilled next year I think.

I can not trace the item re the price target so forget that.

Waiting game today then.

I had a figure of 57p in my head but thought I was probably being a bit silly...we'll see.

anyone no hardmans NAV it will give a good indication of what level to buy at.

Sorry bowman, no idea.

If you are a chartist, today is not the day to buy.

The charts can have fun before the drill result at Toif 5, but what will the charts say after the result? Oh they may say, the charts are looking bullish again and why? Because the fundermentals have changed that's why!

Present and past info, but not the future on a stock like this, they just cannot forecast it! Price of metals maybe, or even the stock market, but not small stocks with news due at any time.

That's my view anyway :)

rayrac dead right in your opinion, which makes it even harder to decide when to buy.

I like this price, but I would like it cheaper, seems HNR does whatever HDR does the night before in Oz.

Tiof 5 is due, you are right, followed by no news while production swings into gear at Chinguetti.

There is loads in the price and perhaps I am being too picky.

The dips are a bit disconcerting though.

I see other PSC memebers are doing the same.

Taken from TMF - Killik & Co.

HARDMAN RESOURCES Share fall


The share price of Hardman Resources, a major partner in the Mauritanian discovery has seen a sharp share price fall in recent trading sessions from 90p to around 68p. Trying to judge the bottom of the price fall is a difficult business but a bounce back looks more than a fair chance from these levels.


Hardmans primary asset is the 19% stake in Chinguetti and 21.6% of the other exploration areas in Mauritania known as PSC B. Readers will recall that these stakes came after a place down of its share to BG Group earlier in the year.


The share price fall follows three separate pieces of poor news which has impacted sentiment. Given that the price has traded at a premium to estimated net asset value, bad news creates opportunities for the premium to reduce. We think the stock is now trading at a discount to core value.


Having spoken to the participants in the project, we understand the news earlier in the week that the Merou well had delivered sub commercial quantities of hydrocarbons really defines the boundary of the massive Tiof field (i.e. it does not extend as far to the west). Further drilling will now take place to the East.


The mechanical issues at Tiof which resulted in the suspension of drilling of the third appraisal well have been played down as insignificant although clearly this may have some impact of the cost program.


It is clear the partners need some good news but we have felt that some of these early targets are by their very nature are high risk and help to define the structures. As a result, the sentiment has moved too negative on the project. Indeed, we suspect that the next results we will hear from the partners will be more about development of existing projects which should be safer hunting ground (cash flow rather than exploration).



The stock price at 66p is below the perceived 73p core as estimated by Citigroup Smith Barney. Upside potential therefore exists. The added attraction of bid speculation at the lead operator Woodside Petroleum in recent sessions and thoughts that Hardman will probably be bought in 2005 suggest recent weakness represents a buying opportunity.

I'm back in.

The stock is as Killik says at a discount, and it's a good one, so that is all there is too it!

Anyone here interested in cows?

Moo!

MS

This is the full text from IC where it has HNR as one of its ten Aim super stocks:

Hardman resources

As long as the dollar remains weak and George Bush wants to make war rather than peace, the oil price is likely to remain high - and oil companies will benefit.

Hardman isn't the biggest oil & gas company on Aim, but it's close - and it's likely to outlast most of the others. That's because it has a strong shareholder base and because its assets are diverse. The company's primary focus is on the new oil and gas province opening up off the coast of Mauretania, where it has had several spectacular discoveries.

The first one, the Chinguetti field, was declared economically viable earlier this year, and is due to come on stream early in 2006. That's not long to wait for substantial cash flow. Meanwhile, Hardman continues to develop its other Mauretanian prospects - the most promising at the moment being the huge Tiof gasfield. There are others, and the company has the cash to go after them.

It also has assets elsewhere: there's exploration in New Zealand, off the coast of South America, off the Falklands, in central sub-Saharan Africa, and in the Timor Sea. And Hardman has shown itself adept at deal-making: it made a profit of more than $100m in a matter of days when it took up an option on an asset and then sold it on to BG.

Chief Ted Ellyard has had to step down for health reasons, and the market has reacted badly to a recent dry well. But that just creates a buying opportunity - Hardman is in it for the long haul.

Where is it going? Sub 60p and I'm in

MS