Hedgies vs todays trading in Brazil HRT already trading for cash value....so..any downside?
This decision was also supported by the increasing concentrations of hydrocarbon shows present in the well below of the depth of 1,500 meters.
Hedgies must of known this, hence their power play at AGM/BOD. Freak that's just 500m below seabed. No wonder there was oil shows all over the place....water sheens, piston cores from seabed, hydrocarbon eating bacteria etc.
Perhaps today's trading in Brazil was this news leaking out...Source Rocks found etc. If no SR found + P & G news....beeg ouch, but it wasn't.
As Wagner P stated, every S Atlantic Sedimentary Basin that's been properly explored, has found oil. Why should offshore Nam be any different? IMHO.....it isn't.
Source rocks, proper temp gradient for "oil kitchen". First Q from me....what happened to the 30% porosity in the limestone?
and yes...what was all the gas chat about?
So oil leaking out and no water cut...sweet
Drill baby drill