Hungry hungry trolls.
I am still accumulating in this quiet period.
You can look at page 1 of this thread to see that the major long term development predicted is months away from becoming a reality. HDY didn’t drill 2-3 wells with a commercial discovery in the shallow as speculated in the beginning. They drilled one expensive non-commercial well and maintained the lease. BUT they have succeeded in attracting another seasoned operator to the much bigger deepwater prospects. HDY shareholders maintained substantial interest and gave up operatorship to Tullow. The expected Q1 2014 target (Sylli).
See pg 9 for the risk/reward profile of Sylli:
http://www.tullowoil.com/files/pdf/results/2012_full_year_results_factbook.pdfThis small cap story has always been about a frontier discovery in the deep. It has always been an all eggs in one basket play (geographically) and will remain that way until a major discovery is made or the company files for bankruptcy.