GREY:HRTPF - Post by User
Post by
stockwatcher111on Jan 17, 2012 11:32pm
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Post# 19415329
Bllomberg, January 24th, 2011 What a difference a
Bllomberg, January 24th, 2011 What a difference a The following is from a Bloomberg article dated January 24th, 2011:
"The Rio de Janeiro-based oil-exploration company will start producing from its wells in the Amazon’s Solimoes river basin as early as June, Mello said today in a Bloomberg Television interview in New York. HRT will begin drilling in February and expects to reach an oil reservoir in May, he said."
https://www.bloomberg.com/news/2011-01-24/brazil-s-amazon-may-hold-super-giant-oil-fields-hrt-says-shares-climb.html
I have watched the stock closely since it was pointed out to me May 2011. It is extremely important for executives who are in the exploration business to make sure they are both optimistic and realistic. The stock has suffered due to statements such as this that were far too optimistic. One may be accused of having 20/20 hindsight. However, there is a precipitous cliff when one makes promises in a risk based business, and the stock price is the proof.