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HDR - Hardman Resources

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Re: HDR Hardman Resources

Seems you were right, Rich.

just lifted this from another site...

seems woodside has sold its holdings in hardmans, about $118m worth at $1.755 each.
report just came out, not sure how market is going to react, many sellers lining up at lower than expected prices.
Richard O'Shannasy, secretary quotes "it is now an appropriate time for woodside to seel its holding given the transformation that Hardman has undergone in the last few years... Financially and operationally, Hardman has never been in better shape. Chinguetti is nearly complete with the anticipation of first oil in Feb 2006"
 
Re: HDR trading halt

carpets said:
seems woodside has sold its holdings in hardmans, about $118m worth at $1.755 each.
report just came out, not sure how market is going to react, many sellers lining up at lower than expected prices.
Richard O'Shannasy, secretary quotes "it is now an appropriate time for woodside to seel its holding given the transformation that Hardman has undergone in the last few years... Financially and operationally, Hardman has never been in better shape. Chinguetti is nearly complete with the anticipation of first oil in Feb 2006"
The sale price will possibly bring down the share price initially but things are still looking good for the near future.
Comments?
Click to expand...

Hi Carpets,

Welcome to ASF! Hope you enjoy these forums.
Please read the forum code of conduct and posting guidelines asap, it would be helpful if you would post in the existing thread on HDR, thanks!

.....emmm, just noticed you guys have posted the same stuff...I bet many stock sites would now have the exact same paragraph....

RichKid
moderator
 
Re: HDR Hardman Resources

rich kid,
sorry bout the new thread,
I posted the same message on ozestock and was looking for a reply but didnt have any success, good to see you guys are on the ball with hdr.
what do you think about woodsides sale? price drop looks imminent...
 
Re: HDR Hardman Resources

carpets said:
rich kid,
sorry bout the new thread,
I posted the same message on ozestock and was looking for a reply but didnt have any success, good to see you guys are on the ball with hdr.
what do you think about woodsides sale? price drop looks imminent...
Click to expand...

Hi carpets,
That's fine but you really need to read the rules I mention, you wont need to bother with another forum after you join ASF! But we do have higher standards here so it won't suit all. We've been following HDR here, it appears to have broken a support line I drew in a chart (see earlier posts) so not looking good imho. I prefer other stocks atm for oil exposure- TAP, AWE, ARQ, OSH etc, search these forums for oil stocks (use search tool above).

Let's see where HDR finds support.
 
Re: HDR Hardman Resources

In the first announcement, it says the holding is sold to Deutsch "for placement in the market".

To me, that sounds like the stake has been sold for $1.755, and Deutsch is going to feed all this stock into the market (over time). Exactly like the LHG/citigroup deal. So in the short term, it could drop well below 1.755. (Maybe not too much as there will be a lot of bargain hunters about).

I think Deutsch got a far better deal than Citigroup though ;)

Comments?
 
Re: HDR Hardman Resources

very interesting day for HDR, thought market would stay at around $1.755, which was woodsides sale price. Big volume moved today, good finish at $1.83. Now woodsides no longer a major investor,should be very interesting to see where HDR goes over the next few months.
 
Re: HDR Hardman Resources

WPL selling their 10.8% stake in HDR is fantastic for holders of HDR.

The long and the short of it is that the overhang is now gone, HDR is fundamentally undervalued, they have an active drilling program in conjunction with some of the biggest oil companies in the world at high quality targets which are very high impact relative to their market cap.

All this amounts to HDR being 'in play' all of a sudden. Record oil prices this year has explorers and producers cashed up and some consolidation is overdue. I believe the process has started this month with some large shale prospects in the US changing hands. Today's buying is a reflection of this.
 
Re: HDR Hardman Resources

WPL selling their 10.8% stake in HDR is fantastic for holders of HDR.
Click to expand...

Hmmm...i dont know about that. Personally, i think that WPL selling their HDR stake shows a sign of weakness in HDR. I mean, if HDR was profitable, then why would WPL sell it? I think that WPL thinks that HDR no longer has potential or that there is better opportunities elsewhere. We'll just have to wait and see
 
Re: HDR Hardman Resources

WPL made in the order of $50mill on their investment in HDR. Divesting yourself of a very large stake in a company is not easy - you need the lure of future growth to attract buyers. Look what has happened since SGW sold their share in BMX. Rio Tinto also just sold their share in Lihir. If they didn't have future growth potential then they would have driven the price down a lot in offloading them.

Then again, its disagreement that makes a market.
 
Re: HDR Hardman Resources

Lucstar said:
Hmmm...i dont know about that. Personally, i think that WPL selling their HDR stake shows a sign of weakness in HDR. I mean, if HDR was profitable, then why would WPL sell it? I think that WPL thinks that HDR no longer has potential or that there is better opportunities elsewhere. We'll just have to wait and see
Click to expand...

Interesting concept DoctorJ!!!! I am agreeance with Lucstar. We are all entitled to different opinions and your comments are different DocotorJ.
I am in agreeance with your points Lucstar. You could say that WPL sold off other stakes in projects unrelated to HDR this week, however that in mind, it indicates to the market a recognition of weakness in HDR.
Just my little ol' humble opinion!!! Good Luck!!!!
 
Re: HDR Hardman Resources

Hi All

First post on this site. Have followed this one for a while. Percieved weakness will be resolved depending on continued exploration success and the strength of the oil price into the expected production delivery from Chinguetti next quater.
In the background takeover speculation even with the recent sale of WPL's stake still remains strong! Development of TIOF and any decision to tie in any of the closer fields to the FPSO continue to hold some appeal.

cheer$
 
Re: HDR Hardman Resources

dollars said:
Percieved weakness will be resolved depending on continued exploration success and the strength of the oil price into the expected production delivery from Chinguetti next quater.
In the background takeover speculation even with the recent sale of WPL's stake still remains strong!
Click to expand...

As a current holder of HDR, WPL's sale was somewhat worrying... as the question was posed, why would WPL sell their 10.8% stake if it was going to continue to make them money?

I agree that next quarters proposed production in Chinguetti should provide some new opportunities for HDR. They have indicated from previous reports that they have adequate capital to fund this new exploration. In my opinion, WPL's sale is a minor setback as DOLLARS indicated. Im sure there will be some disagreements there, however, as a current holder im trying to stay optimistic!
 
Re: HDR Hardman Resources

WPL strategy is to build shareholder wealth through drilling oil, not investing in other companies. Perhaps WPL now feel as though HDR is capable of meeting its current and future obligations to the JV and it no longer needs support from WPL.

WPL can now redirect the funds they had invested in HDR to what WPL does best - drilling oil.

Just something to chuck out there.
 
Re: HDR Hardman Resources

Perhaps WPL now feel as though HDR is capable of meeting its current and future obligations to the JV and it no longer needs support from WPL.
Click to expand...

If WPL felt that HDR is now mature and PROFITABLE business. Then wouldn't they make the most of the opportunity and stay with HDR? I mean all businesses desire profits. If WPL sees HDR as profitable, they would be organising a takeover, instead of dumping HDR shares.

Just my point of view.
 
Re: HDR Hardman Resources

I guess what I'm trying to say is that you can make money doing all sorts of things - digging up stuff, speculating on pork bellies, walking street corners... the list goes on.

The way WPL makes their money is by finding and selling oil rather than investing in other companies. Sometimes owning part of a profitable business isn't enough reason to hang around.
 
Re: HDR Hardman Resources

My broker suggested that hdr was a good buy on friday. However, I declined as I have some concerns over Tiof which has a fairly large (>50c I believe) valuation attached to it. I guess that means it will be back over $2 in a day or so.

Does anyone know who Deutsch bank sold most of the holding to at $1.76?
 
Re: HDR Hardman Resources

doctorj said:
... Rio Tinto also just sold their share in Lihir. If they didn't have future growth potential then they would have driven the price down a lot in offloading them.

Then again, its disagreement that makes a market.
Click to expand...

LHG did fall a fair bit that day, a big gap too. HDR seems to have weathered it a lot better but it's early days yet.
 
Re: HDR Hardman Resources

markrmau said:
Does anyone know who Deutsch bank sold most of the holding to at $1.76?
Click to expand...

I think Deutsche Bank is intending to hold a auction for the stock and they still hold most of WPL's 10.8% stake.
 
Re: HDR Hardman Resources

:)

Hi folks,

HDR ..... often our analysis is contrary to those holders,
who have fallen in love with this stock and this time
would seem to be no exception .....

..... that's life, in the oilpatch ..... !~!

Attachment here, details a short-to-medium-term analysis
from one techie's perspective, which was posted to other
forums about 03102005, but has proven to be correct, so far.

Really, this is just a heads-up on HDR, as our astroanalysis
tells us to be looking for further negativity in this market,
particularly around 09-13122005 and again later this month.

Have previously posted some other stuff too, about the
importance of the 1.90 pivot level for HDR and how we
confirmed that pivot, with 3 of 4 forecast hits coming in,
on time so far, with the final target date on 30122005.

Of course, this is just one techie's view and it could
well be 100% wrong ..... let's hope so, because the
current holders may not get such a good ride over
the coming 7 months or so, if this analysis is correct.

Let's see how it all unfolds ..... :)

happy trading

yogi

:)
 

Attachments

  • HDRcycles30092005.pdf
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