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Hardman in the frame

Companies: HNR    TLW   
25/09/2006

Tullow Oil is bidding a recommended £581 million at nearly 78p for West Africa and Falklands-focused Hardman Resources.

In a nervous oil market, consolidation bids are on the cards. Tullow, at 350p itself – 90p off May's price, may take some time to recoup lost ground, while Hardman holders could wait a while to see what how the shares react.


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