Petro Rio S.A. HRTPF

Energy Oil & Gas E&P

"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

Petro Rio S.A. > Mello Resignation

<< Previous

Bullboard Posts

Next >>

Comment by landmannon May 12, 2013 10:26am

249 Views

Post# 21369778

RE: Mello Resignation

At the risk of stating the obvious:

1. Mello knew HRT-11 was not a sure thing. If a duster, then he's still got plenty of crew and at least 2 rigs that can drill elsewhere, at minimal expense.

2. Mello knew Wingat was not a sure thing, If a duster he has 2 or maybe 3 more chances.

3. If you've been around him, you know there is no way he would give up HIS company at this juncture just because of 2 dusters.

4. The board wants him to stay, so he's not being forced out.

5. IMO, the only situation that would cause him to resign is that the CEO position will soon be/has been reduced to nothing more than a figurehead.