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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

Comment by rob926on Apr 17, 2013 10:42pm
246 Views
Post# 21268662

RE: RE: Board

RE: RE: Board

There should not be any shareholders who do not beleive in Marcio's dream for both the Amazon and Namibia. For several years this has been the plan. Yes he has missed flowing  oil in the Amazon's only to find tight oil and lots of gas. He has drilled 10 wells so far with the 11th drilling now (better be oil this time. At least it is east of the big new find by petrobras). Finally we are drilling the 4 Namibia wells. These should have been drilled over 1 year ago. This is not betting the farm on Namibia it is just finishing his plan that he started. All we can hope for is that somewhere in his plan we find commercial oil before HRT runs out of money. What other choice do the new stock holders have if not to follow Marcio's plan? I agree he was not the best at executing his own plan he should have had a better board to start with but at this point what can they do two thirds of the money is gone and the other third is commited to finding oil in Namibia or the Amazon. If no major discovery before the money runs out then HRT will if it survives will be an exploration oil company looking for money and a new project. Not what I jumped on board for. I  own lots of stock and started buying when Byron King first put a buy on Universal. I was excited when HRT did the buy out because I beleived in Marcio's vision for Namibia. Well I have rode this pony almost into the dirt waiting to see if Marcio is right about Namibia and finally we will know this year what we have after the fourth well is drilled. All I can say at this point is Drill Baby Drill!

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