Main market stock..incredible graph, good transition from Aim to Main market..better keep an eye on this one, not in yet but : possibly a good Isa stock for the long term.

Its on the move today what an incredible share.

No stopping oil shares today and Hardy is one of the better performers.


1100p target in 12 months.

A momentum play on the possibility of $200 oil price sometime in the future along with DNX..VPC.. SMDR.. and TLW

Hardy Oil is weakening...now 618p...expecting more downtrend.

I am out for now.

568p...I think 400p is the support...it will move downwards now.

Hardy Oil abandons Indian well, shares fall - AFX


Aug 26 (Reuters) - Britain's Hardy Oil and Gas Plc said it had plugged and abandoned exploratory well GS01-S1 in India as no hydrocarbons were found, sending shares in the oil explorer down almost 13 percent on Tuesday.

However, Chief Executive Sastry Karra said GS-01 continued to be an important part of its exploration portfolio in India.

'We look forward to completing our exploration programme and the appraisal of the existing Dhirubhai 33 discovery on the GS-01 block,' he said in a statement.

Hardy also reported net profit of $6.2 million for the six months to June 30, 2008, up from $1.9 million last year.

It was helped by an exceptional gain of $9.0 million from the sale of 5.06 million shares in Hindustan Oil Exploration Co Ltd (HOEC).

Hardy's pretax profit for the period rose to $9.73 million from $2.89 million.

The company made two gas discoveries -- Dhirubhai 39 and Dhirubhai 41 -- on the D3 block in the KG Basin, 'significantly' de-risking some of the prospects within the block.

Hardy said it had scheduled up to 14 wells for drilling through to the end of 2009, and it expected the exploration drilling programme for D9 block to start this year.

Shares of Hardy were down 4.5 percent at 442.75 pence at 0855 GMT, after earlier falling 12.6 percent to 405 pence.

2nd failure...350p now.


Hardy Oil and Gas abandons well in India
MoneyAM


Hardy Oil and Gas has plugged and abandoned its GSO1-M1 exploratory well in India after tests on the well's geology proved inconclusive, the company said in a statement.

Hardy said it will continue to evaluate the M1 prospect by carrying out advanced processing of the 3D seismic data.

Hardy has a 10% participating interest in the GS-O1 exploration licence. India's Reliance Industries Ltd is the operator and holds 90%.

Oil price is crashing too

Drivers' groups today accused petrol retailers of ripping off motorists by not lowering prices at the pumps despite oil having tumbled from its record high price level in July. But motorists could receive some cheer in the run-up to Christmas. Experts believe pump prices will fall as demand for fuel wanes in the face of recession fears and cutbacks on spending.

U.S. Fed said that tough times are not over led Wall Street to its worst day since the 1987 stock market crash, wiping out earlier optimism fuelled by government steps to avert a financial meltdown. Japan's Nikkei index dived as much as 10 percent in Thursday trade.

U.S. crude for November delivery fell $1.26, or 1.7 percent, to $73.28 a barrel by 6:20 a.m. The front-month contract has lost nearly a third in value in three weeks, the steepest such decline since it began trading in 1983.

London Brent crude fell $1.17 to $69.63.

"The oil markets are now highly correlated to the stock markets. Everyone now uses the stock markets to gauge the health of the economy," said Clarence Chu at U.S.-based options trader Hudson Capital Energy.

Crude now stands more than 50 percent off its July peak above $147, and analysts have scaled back global demand growth estimates after a recent slew of gloomy data that has overshadowed OPEC's talk of possible production cuts and a hurricane that is disrupting Caribbean refining operations.

Japan's crude oil inventories hit a 14-month high last week as crude runs stayed low, in part due to slack domestic demand, industry data showed on Thursday.

JP Morgan cut its average oil price forecast for 2009 to $74.75 a barrel, and the Organisation of the Petroleum Exporting Countries also reduced its forecasts for world demand for crude next year in its latest monthly report.

200p now...100p coming up as oil price crashing

Even though I started the blog on this one I cannot understand why the sp is so high with tiny production .....anybody any idea what they are hoping to target with this drilling off India ?...it would have to be pretty substantial with this valuation already in the sp and they will only have 10% of whatever they find....Robbie Burns is in this one but each time I think that it's way overvalued : up it goes again...now miles past the brokers target.

Disaster for this company...10% of nothing....this could go to 2 now !.

Which only goes to show that no matter how good you think a company is, it is always wise to lock-in profits cause once you've done that, nobody can take it away from you.

.. well apart from the taxman of course ...

i had a friend that did that once when a share doubled and kept on bragging about it......4 years later it had went up more than 10 times......now saying its most stupid decision ever made as would be very wealthy instead of plodding about as usual

good to see rf is as exciteable as ever

Perhaps not good to see you're back.

If you don't think trading in these markets is a good idea I suggest you go and have a look at your darlings HAWK and RPT.

i'm doing very well on them..........hows vyke doing, that was a good trade for you buying shit that you dont realise