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HDR, HARDMAN RESOURCES LIMITED
jojosydney
post Posted: Jan 16 2009, 10:08 PM
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In reply to: Idyll128 on Thursday 15/01/09 09:27pm

It does not suprise me that Uganda came up with all the goodies

I always had heaps of hope that HDR would come good with Uganda, just a pitty that it had to go this way.

But good luck for tullow they had the guts and balls to take HDR out and deserve the credits now.

jojo

 
Mark M
post Posted: Jan 16 2009, 08:44 PM
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In reply to: brett68 on Thursday 15/01/09 08:55am

Thanks Brett68.

Ah...... the memories. Let the good times roll .........again!


HDR had such potential but got cleaned up with some neat maneuvering by the M&A piranhas whilst bickering with WPL.

Cheers
Mark M smile.gif

 
Idyll128
post Posted: Jan 15 2009, 09:27 PM
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In reply to: brett68 on Thursday 15/01/09 08:55am

Tullow have sure kicked goals in Uganda with 18 out of 18 striking oil, although this latest one is the best to date but was not on the HDR block. The better best news for them however is the 1.8 bil bbl Jubilee discovery in Ghana with other prospective targets still to be drilled on the blocks.

 
brett68
post Posted: Jan 15 2009, 08:55 AM
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For old times sake again
- memory is thin now but I don't think HDR had any of this block but their finds would have had a piggy back/tolling arrangement on Heritage/TLW's development now that it looks like going ahead

- TLW kicking goals everywhere - at the t/o, we would've had them for 4.00 - now 668 - without the economic turmoil - 10+ grrr.gif

http://www.rigzone.com/news/article.asp?a_id=71606

Heritage Extends Buffalo Discovery with Major Oil Find in Uganda's Block 1
Heritage Oil Ltd. Tuesday, January 13, 2009


Heritage Oil has announced a world-class oil discovery with the successful Giraffe-1 exploration well in Block 1, Uganda, which also unlocks further potential in the block

The Giraffe-1 exploration well, which is located in the Butiaba region of Uganda Block 1, has encountered over 38 meters of net oil pay within an 89 meter gross oil bearing interval. These results demonstrate Giraffe to be a down-dip extension of the Buffalo discovery, making this the largest discovery in the Lake Albert Rift Basin to date.

Related Pictures

Uganda Blocks
(Click to Enlarge)

The well was drilled 5 km from Buffalo-1 to a total depth of 705 meters and has been successfully logged and sampled. These data indicate a net reservoir thickness of 38 meters, the largest encountered in the area to date, and excellent reservoir quality in all pay zones with moveable oil being recovered to surface.

Interpretation of the well and seismic data indicates that the reservoir sands intersected in the Giraffe-1 well are in communication with those in the Buffalo discovery. An oil-water contact was penetrated and is interpreted as being common to the entire Buffalo-Giraffe structure with the potential for a single continuous oil column of some 140 meters.

Based on current mapping the Company's initial estimate of reserves for the Buffalo-Giraffe complex is over 400 million barrels.

Giraffe-1 is the sixth successful test of the Victoria Nile delta play fairway within the Lake Albert Rift Basin and was drilled some 6.5 km south of the crest of the Buffalo-Giraffe structure. This latest result further extends the play fairway and de-risks several adjacent prospects, located in Blocks 1 and 2, which are scheduled for drilling in 2009.

The well will now be suspended as a future producer and on completion of operations the light land rig will move to the Tullow Operated Block 2. Drilling operations will recommence in early February with the drilling of the Mputa-5 appraisal well to calibrate recently enhanced seismic data. Thereafter the rig will return to the Block 2 Butiaba campaign.

There are many other prospects and leads mapped within Block 1 from over 600 kilometres of seismic data acquired in the license during the past 18 months. The data give the potential to find additional substantial quantities of oil. All these prospects and leads are characterised by similarly encouraging seismic amplitude anomalies as those seen over the successful Warthog, Buffalo and Giraffe discoveries, and represent further additional multiple drilling targets within the block. Heritage plans to undertake further drilling in Block 1 later in 2009.

Heritage is the Operator of Block 3A and Block 1 in Uganda with a 50% equity interest in the licenses with Tullow Oil Plc holding the remaining 50% interest.

Tony Buckingham, Heritage's Chief Executive Officer, commented, "The large Buffalo-Giraffe structure is a world-class discovery which could prove to be substantially more extensive than currently outlined, unlocking the multi-billion barrel potential of Block 1. Heritage is very proud of being the pioneering company that was awarded the first licence in the Albert Basin in 1997 and has now discovered oil reserves that have achieved the commercial threshold for development. Having reached this critical commerciality milestone, 2009 will be very exciting as we enter the developmental phase for the Albert Basin, while continuing to appraise and explore the basin’s further potential."

Also commenting today, Aidan Heavey, Tullow's Chief Executive, said, "Buffalo-Giraffe is one of the largest recent onshore oil discoveries in Africa. Combined with our other finds in the region, we have now clearly exceeded the thresholds for basin development. Options for commercialization and first oil production are currently being fast-tracked."





 
zog
post Posted: Jan 18 2008, 03:13 PM
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HDR dissappeared in 2006 and was absorbed into Tullow Oil (TLW) on the London Stock exchange. The basis of the deal was $2.04 a fully paid share (there was also a limited script/cash offer also). I really don't know what happened to options - probably your best course is to contact Tullow Oil in the UK. Internet link is:

http://investor.tullowoil.com/

 
saffron
post Posted: Jan 18 2008, 02:38 PM
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To whom it could concern
ON THE 5TH MONTH 2000, I BOUGHT 10,000 OPTIONS - 1X5 @ 5 CENTS IN HARDMAN RESOURCES, WHAT I AM LOOKING FOR IS THE DATE AND PRICE TO CONVERT THESE SHARES TO FULLY PAID SHARES. --- SURELY THERE MUST BE SOME OL'E HARDMAN SHAREHOLDERS AROUND THE TRAPS THAT CAN HELP ME OUT
I AM NOT FOR THE RIGHTS ISSUE @ 1X6 @ $1-10 ----- THE 2000 OPTIONS ARE MY CONSERN, I AM LOOKING FORWARD TO SOME GOOD NEWS.. REGARDS, SAFFRON.

 


abner29
post Posted: Dec 23 2007, 02:21 AM
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In reply to: brett68 on Saturday 22/12/07 11:29am

Brett: Well said. I think you are absolutely right, except there could be a small component in the TLW price for the successes in Uganda. TLW has been a standout oiler.

 
brett68
post Posted: Dec 22 2007, 11:29 AM
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QUOTE (watchmaker @ Friday 21/12/07 12:00pm)

Watchmaker,
my point was if TLW didn't rescue us, the HDR share price would be well under $1 now - I was unhappy at the time at the useless Potter selling us up the river with Uganda showing so much promise which may be tempered a bit now as well as the increased tensions in Uganda which arose after the t/o

TLW SP rise has mainly been because of their huge oil discovery in offshore Ghana and nothing at all to do with any HDR stuff (more like a rise despite HDR assets) - in hindsight we should have taken the TLW shares instead of the cash but isn't the first or last time I've made a bad decision stun.gif

By the wording of your post, you must've taken the shares so well done graduated.gif

 
wolverine
post Posted: Dec 21 2007, 08:46 PM
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In reply to: watchmaker on Friday 21/12/07 07:04pm

cheers watchmaker

i need to go make a comparison with other oilers from around the same date and see how their performance looks. i presume some of the gains have come from the rise of POO.

having a superficial look, OSH, WPL have underperformed Tullow (ROC enuff sed thumbdown.gif )

so it comes down to the assets Tullow had prior and whether they have been kicking some backside or it is the Guyane assets giving them the momentum.

also be interesting to know how HDR would have gone had they stayed independent allowing any cap raisings that might have diluted things a bit.

we will never know but since its xmas and perhaps with time on our hands we can have a stab at it....



--------------------
TOO MANY CHIEFS

NOT ENOUGH INDIANS
 
watchmaker
post Posted: Dec 21 2007, 06:04 PM
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In reply to: wolverine on Friday 21/12/07 12:17pm

HDR shareholders had the opportuntity to take up Tullow shares, which at the end of December last year were 397p, and now are 630p. They have been as high as 682p

Valuing HDR on its Mauritania assets alone is a very narrow view of the company, indeed almost myopic. Tullow are delighted with their aquisition and they believe the enormous tenement in French Guyane should have >3b barrels of oil, possibly a parallel to what Argentina recently discovered. Apart from rich assets in Uganda, there is the Falklands, where all of the majors are turning up as we speak. The fact is, HDR is now out of our hands, gone because investors here do not focus on term of life projects, instead favouring short term gaols.

A large company such as Tullow appeciating 57% in value since they raided Australia is not too shabby a performance. Perhaps we could learn something from them, though I doubt we will.

 
 


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