Decision made - got in with a small holding at 60.68p plus costs.

Rationale: Mputa likely to produce the goods, results to be made known within a few days. Flamant-1 to follow. If both are successful that should cause a significant re-rating of the SP. If neither succeeds that could cause the SP to dip short-term (creating IMO a buying opportunity given the strength of the rest of the E&P portfolio), but long-term the current SP is justifiable on current plus a small amount of known forthcoming production.

On technical reasons, the SP has just bounced off the 58p-ish support, up over a penny on a day on which the broad market is taking a dive.

HNR Bid: 59p Offer: 61.5p Change: 1.25

Very diciplined soul.

A small holding can be just as satisfying as a big one, especially if it flies.

No reason to suspect this won't at some point. As you said, it has a lot going for it , that is all discounted from the current sp imo.

Good fortune.

Thanks Seawall. I'm having to be discplined because I'm not as liquid as I'd like to be right now - in an ideal world I'd have 100k to spend upon shares and would seriously think about trickling 10 or 20 of it into HNR. In default of 100k I shall just attempt to be opportunistic.

Looking forward to the next few weeks' drilling results. Thanks once again for all your feedback.

ST.

Thanks soul, just seen the new thread, I now consider this one closed.