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Petro Rio S.A. HRTPF

"Petro Rio SA is engaged in exploration and production of oil and gas in Brazil and abroad. The Company is currently engaged in the hydrocarbon production in Polvo field."


GREY:HRTPF - Post by User

Bullboard Posts
Post by BroStarton Dec 20, 2011 3:12am
517 Views
Post# 19337000

Money well spent... well some of it

Money well spent... well some of itOut of that 400 Million spent, a big portion of that went to things such as HRT's air fleet, and transportation, which cuts down on any and all costs now and in the future for transport of both people and needed tools etc... as well as machinery which will be used again.  I am not denying that a lot of money was put on on the DRILLS and didn't come close to showing what was expected, but to try to say that 400 million was spent and is all spoken for in the "wasted money category" is just stupid.  IF the russians sign on there is a lot more in the bank, but I would love to see the fine print in that contract, to see if it states about must produce or find commercially viable oil/gas before it goes through, or to know exactly what the hold up is.  They seem to have changed their tune on the focus of next year, and the majority of it will be taking place in Brazil (as opposed to Namibia), and this could be a smart move in a way, because it cuts down on a lot of costs because of what they have recently bought and invested their own money in, which was much more than just drilling.  I also believe that they are doing this because of the results that they have right now.  There is a lot more going on then meets the eye on this one, or all investors would be running away, not buying in on HUGE risk, and if they didn't have anything, why put out the money to O&G in the first place.  Are we still waiting on any results, or just the next drills?  Too many "big boys" still seem interested and buying this up for it to be a bankrupt lost cause stock and company.  That said, I do agree, that within the next couple of drills something better produce or all sh$t hits the fan, both in the pocketbook for the company and the respect/believe of investors.  This is and has always been a long term buy for most on here and I think the majority still feel the same, although no one likes the huge drop in SP, it was expected if nothing was found.  The fact that some people on here are going around as if they are kings of the market, and putting others down that lost money is just plain rude and ignorant.  Believe what you will, do your own DD and ignore the people that should be.  In the end, I hope everyone makes money that is what this is all about.  Keep sharing useful information people, and by all means, if you have something positive or negative to say back it up with something.....I also know it is very hard to ignore some people some time, because they take such direct pokes at people, but the REAL TRADERS on here respect the "silence" and the bigger people biting their lips to make the board a better place..... doesn't mean you can't out talk some of these people here, but it means you know that you can so why waste your time proving it... BE THE BIGGER MAN and talk about useful info, and "they" will eventually leave, because they are complete pieces of SH$T.. Also notice I didn't say any names, they will know who they are and be sure to comment on it... that proves everything... CHEERS!@!
Bullboard Posts