Petro Rio S.A. HRTPF

RE: Deal, Analysts, and other issues

[gusgold]

Namibia is worth a lot less than the Solimoes.  I had shares in Heritage Oil when they sold their 50% stake to Tullow in Uganda for 1.2 billion. Then the President of Uganda hits Heritage with a 350 million "capital gains tax" that I am sure goes to his offshore bank account. Heritage refused to pay and eventually Tullow paid under protest so the deal with China could go through. The same thing will happen in the Namibia if oil is discovered. Once the fields are developed and the cash rolling in I wouldn't rule out nationalization by Namibia.