Petro Rio S.A. HRTPF

Sell Off is Unwarrented

[plieber]

What we're seeing here is profit taking by large UNX shareholders.  Remember UNX sold about 8 million shares to financial firms to raise $30 million.  I would guess those guys and UNX officers are the ones taking the profits.  The question investors should ask themselves is HRT worth more or less before the UNX acquisition.  As someone pointed out HRT is nearing its IPO price of 1200.  Then they were a company with no oil reserves, yet the price of the stock reached 2220.  Now they have at the very minimum several billion confirmed barrels of oil yet the stock price is nearly back to the IPO level.  Yes, we may see HRT fall below the IPO price, but hang on value will always win out.

Also the stock is tanking because we have not heard word from one recent Namibian seismic survey.  The survey report for the Walvis Basin is long overdue and therefore must be a bust.  I have hopes for the April 15 survey of Block 2813 where UNX has already found oil.  Block 2813 is adjacent to the Namibian coast and therefore the easiest to drill. In the case of UNX it seemed it took about a month to get the seismic survey completed and then get a report out to the public.  So hopefully we can expect news anytime after May 15.