GREY:HRTPF - Post by User
Comment by
BroStarton Apr 10, 2013 12:15pm
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Post# 21236887
RE: The Mello Move
RE: The Mello Move
08.04.2013 | 09h43m
OSCILLATIONS OF THE WEEK (FROM 01 TO 05 APRIL)
HRT OIL ON (+33.93%)
The action of HRT, oil still pre-operational, has been presenting very volatile. The strong recovery in the wake of this week was the announcement of the start of drilling blocks in Namibia (where there is potential oil discovery) and the high of 42.9% in last Thursday on the London Stock Exchange, the shares of British oil Chariot Oil & Gas also owns blocks in Namibia and in close proximity to blocks of HRT.
Also reflected positively speculation of a move by shareholders (mainly foreign funds) to withdraw the founder, Mr. Marcio Rocha Mello, the president of the Board of Directors of HRT Participações, the Annual General Meeting scheduled for April 29. The shareholders are unhappy with the performance of HRT, which since its IPO in October 2010 was unsuccessful exploratory relevant.