Petro Rio S.A. HRTPF

cash vs mkt cap

[Dicko80]

CASH Q1 2013

The Company ended the first quarter with a consolidated cash balance of R$829 million"

Using an fx rate of 1 BRL = 0.468459 CAD

https://www.xe.com/currencyconverter/convert/?Amount=829000000&From=BRL&To=CAD

I work out that the cash balance is CAD$388.53m

CAD$388.53m vs mkt cap CAD$74m

this cash works out to USD$372m

Namibia exploration programme (HRP 86%)

1) Wingat $78m - drilled found oil but not commercial quantities
2) Murombe $92m - currently drilling
3) Moosehead $93m

total

USD$263m x 86% = $226m

Still leaves USD$150m left in the bank after all 3 wells have been drilled nearly double the current mkt cap..

So very good risk reward

and if the Polvo field goes ahead as planned....

net production 7800bopd x $100 x 365days = 

$285m revenue pa