You are going to have to get the HDPE rather hot, and keep it that hot, to get it fluid enough to be able to vibrate the bubbles out of it. Unless you are planning on vibrating this in the oven while it's heating I don't think you've got much of a chance of removing the bubbles.
I've seen Youtube videos of people making hammers out of molded HDPE. If you use their techniques, or at least modify those techniques, I'd think that you should be able to make your billets.