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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

Post by BroStarton Sep 08, 2012 8:27am
381 Views
Post# 21503206

Future is Black (oil that is) for HRT

Future is Black (oil that is) for HRT

The timing of the "partner" announcement is all but announced, the control is 100% in the hands of HRT.  They have shown and proven their 2D & 3D seismic data, they have opened their data room to all at interest and they have had SEVERAL good offers.  They are in the drivers seat, and the majority of their offers and interest were well after the "gas" finds.  The Solimoes right now has been in areas that have a much higher chance of finding gas than oil, and guess what, they did find gas.  They will move on (as was pointed out in previous post) soon to the drillings in the areas that have a higher chance of finding oil than gas, and guess what, they WILL find oil.  As for their JV, partner, farm out or whatever you wish to refer to it as.  They can be very picky on that and choose the best deal for them and their shareholders.  As to why they haven't signed and released their choice yet, that is simple.  It is all based on drillings in that area right now (Nimrod being one).  They have the upper hand and the opportunity to wait until the results of others drillings before accepting or declining offers already presented to them.  So why would they accept now if our SP were to double or triple based on other companies results.  Worse case scenario for that is that others have dusters in Namibia and we still get the deal that companies have agreed on giving us.  Best case scenario, others hit oil and we decline the offers and get a lot more based on "their 100% is oil in Namibia and Nimrod is proof".  There is a lot going on that people are not considering or even talking about on this board that have a huge impact on our SP and our soon to be announced NR's.  This is the first time in a long time that we (HRT) have control over our company, meaning that with offers already been given we can decide to accept or decline regardless of our SP and what dusters may or may not come about.  The future is great for HRT (or as I still like to refer to it as UNX because that is why I am here NAMIBIA) and the drop in SP of course is a terrible thing, but it is also a great buying opportunity.  SP below cash on hand is always a good time to get in, and in our case it is a great thing to do becuase with so many projects/drills coming in the future there will be many chances to buy on a low, sell on the anticipation of results and make money or average down during the waiting.  HRT has been a nightmare for us longs, there is no denying that, but we are in a very unique position as far as our SP is concerned, why? because our SP has been dropped down before we have even started drilling where we should have in the beginning, that means buy more and as much as you can.  GLTA and hold onto your shares, the ups may follow downs, but when we hit there will only be chasing to be done. 

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