Petro Rio S.A. HRTPF

RE: RE: RE: RE: RE: RE: RE: absurd valuation

[wallywill]

Petra is paying 1 Billion to HRT in 5 installments over a 2 year period. In 2013 TNK will also be paying for 45% of expenses in the Solimoes. There is also up to 5 Billion US dollars to be paid to HRT when certain milestones have been met. This is in addition to the 1 Billion for the Petra sale. No kidding when there is absurd value here. There has been so much bad press saying that HRT will run out of money shortly. Seems like people don't understand that HRT paid Petra and is getting the money back from TNK. They dont know or understand the payment structure the parties agreed to. It also seems that people dont understand that Galp is paying a huge chunk for the drilling at Namibia. You know what is absurd? These analysts stating that all the assets of HRT are worth zero???? Trading the stock at less than current cash on hand is justified because they have not yet struck commercial oil and they will spend their money on exploration? The Polvo aquisition is valued at zero???? Namibia is worth zero??? These freaking houses have successfully driven the SP to these levels and yet they continue to hold huge positions on a company that is worthless? They put people in the BOD in a worthless company?? No they are grabbing any free shares as they continue to manipulate the stock. Eventually Mello will hit oil in Namibia, the Solimoes or the gas monetization will come to be and those houses will make a killing.

As for any payments from TNK going to Petra..well that is a false statement because the Petra transaction has already been paid. Here is a single line snapshot from the financials it says it all:

                                             2011                    2012

Accounts payable - Petra  515,470                  0