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Time to buy HDY

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ClickClack
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6:33p, 11/8/11
AG
The things reported today are all pretty par for the course for offshore drilling...and the part about expanding the log program is a good thing. It's just that the stock market loves to overreact and exaggerate everything. Really, this news has no bearing on the overall future of HDY. If you could garner anything meaningful out of it, it's that they will get better data from this exploration well.

Stocks are dumb.

Also, just to clarify, I don't have a position with HDY. I just have been watching it because of this thread.

[This message has been edited by ClickClack (edited 11/8/2011 6:34p).]
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moses1084ever
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6:49p, 11/8/11
AG
quote:
...and the part about expanding the log program is a good thing.


Could you/someone elaborate on this?
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LihaiAg06
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7:12p, 11/8/11
AG
I can't be sure, but I have a good feeling RL knows exactly what he's doing. I doubt it is merely coincidence that this conference call is coming a day after this report came out.

Could this be a way to load up on cheap shares before a big announcement comes tomorrow?
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Nom de Plume
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7:16p, 11/8/11
AG
That's exactly what I'm thinking.
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ClickClack
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7:18p, 11/8/11
AG
moses - exploration wells are all about getting information. This comes in the form of what they call logging and they can also take cores (which are basically samples of the earth at the pay zone). If they are expanding the logging program, that's not a bad thing because they're just investing more into getting better data. That's the entire objective of drilling this well - data.
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fahraint
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7:55p, 11/8/11
buying opportunity likely upcoming.....check support and resistance

unfortunately pain dead ahead.....dont trade tomorrow, wait it out, patience on all sides

[This message has been edited by fahraint (edited 11/8/2011 8:25p).]
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Northside
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8:38p, 11/8/11
Can someone define "expanded well logging program." Does that mean initial logging was poor, so they "expanded" the program, searching for better results?

Also, current estimates are $135m. What were the initial estimates? In the long run, a few million wouldn't matter, IMO. We will see tomorrow, but this could be another home run for tutes. Panic when people get greedy, get greedy when people panic-WB.
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Northside
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8:41p, 11/8/11
Just read recent posts. Sorry for the repetative questions...
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JCIrulz
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11:09p, 11/8/11
FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUK!
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astroaggie13
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8:35a, 11/9/11
AG
rough start, as expected.
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Charles Bronson
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9:14a, 11/9/11
Sucks that this 10Q had to coincide with such a down day in the market. Thinking about buying here but want to see if I can somehow get it close to $4 or below.
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piag94
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9:44a, 11/9/11
AG
just a guess but.....
they struck out. They know it and so does the public. Doesn't mean they can'y find oil, but this round is shot. Move on to something else.
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harge57
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10:04a, 11/9/11
AG
Ray said there will be no oil results today.
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harge57
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10:05a, 11/9/11
AG
have drilled 1400 meters. Setting the 2nd set of casing.
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Phat32
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10:08a, 11/9/11
AG
once again, should have sold around 5.3

I never learn
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harge57
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10:09a, 11/9/11
AG
he said "When we find oil"
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Nom de Plume
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10:10a, 11/9/11
AG
Call updates are appreciated. I can't be on atm.
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harge57
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10:12a, 11/9/11
AG
Expecting a slight rebound after this.

News is not as bad as feared.
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harge57
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10:15a, 11/9/11
AG
Basically they are really close to their target zone on drilling, after they hit that they will be able to definitively announce drilling results.

Saying there are wells with similar geography that have recently successively hit oil.

Due to the operational cost increases on well 1 they are re-evaluating the timeline for the second... this was in the release last night.
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harge57
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10:16a, 11/9/11
AG
Also mentioned an acquisition opportunity but no real details shared.

Now announcing new hires.
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astroaggie13
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10:18a, 11/9/11
AG
keep typing harge, the stock is climbing with every stroke of your keyboard!
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thirdcoast
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10:18a, 11/9/11
AG
$10 mil investment in an acquisition of oil producing property underway. Details to be discussed at later date.
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thirdcoast
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10:18a, 11/9/11
AG
Dp

[This message has been edited by thirdcoast (edited 11/9/2011 10:19a).]
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harge57
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10:20a, 11/9/11
AG
Into QA.... asking for details on the rising costs.
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04.arch.ag
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10:20a, 11/9/11
AG
up about .55 in about 2 minutes. lots of premature speculation on results. i would think it hovers around 5 until the results are in
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Bird Poo
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10:21a, 11/9/11
AG
Did not expect delay's at the port to supply the rig.

However, construction at the port is a "good thing" for the country of Guinnea. Traffic is larger than a year ago due to increased aid to the country.

HDY did not anticipate the port difficulties because 1 year ago the traffic was different.
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harge57
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10:21a, 11/9/11
AG
Gave the increase for the expanded logging.

Other cost and delays caused by an overcrowded port. Good news for the country, but expansion of the port would cause a short term increase in port congestion.
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Bird Poo
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10:23a, 11/9/11
AG
I think it's clear that the success of this company rests entirely on this well.
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harge57
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10:24a, 11/9/11
AG
Ya. It's kind of unfortunate it will all rest on the first well... would be nice if they were able to drill both wells at once to mitigate total failure risk.
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thirdcoast
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10:26a, 11/9/11
AG
I suspect there might be some African "union" difficulties at the port as well. Thus the diversification announcement.

Just speculating on port sabotages, but I think it is a real possibility considering the "new kid on the block" reference ray made.....

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harge57
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10:28a, 11/9/11
AG
Sounds like they have a ways to go to get to there target zone. ~1000 more meters.

Gave some details on what is left to do in drilling...

Somebody could come up with a timeline on those details.
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harge57
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10:31a, 11/9/11
AG
They are finishing up setting the 2nd set of casing. He said they will need to set a 3rd set of casing as they get into their target zone.

I think they are currently doing concrete testing on the second casing. Then drill ~1000 feet, set 3rd set of casing, and then they will be able to drill into the rest of their target zone.
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Charles Bronson
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10:48a, 11/9/11
quote:
I think it's clear that the success of this company rests entirely on this well.


Not necessarily, but moreso than I would prefer.

[This message has been edited by Charles Bronson (edited 11/9/2011 11:04a).]
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Phat32
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10:54a, 11/9/11
AG
someone bought 273,000 shares at 4.73

clearly still a bunch of interest
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Tonyperkis
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11:37a, 11/9/11
AG
Anyone buying right now?
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