Some Days I Can Almost Taste VictoryAs I see what is happening, I believe that we have three director/third party fact patterns that could be at play. First, management and the Board realize HRT could soon be taking on water – hence we need alternative planning to carry us for the future. Chariot adopted this strategy from the beginning with multiple farmouts and using OPM to drill. Nice plan for Chariot, but the risk reward curve changes dramatically. If we hit here or at Moosehaed, we didn’t need the planning, but if we miss both, HRT’s survival is much more difficult.
Second, management and/or the Board are less than honest with plans to move HRT assets to a third party or go private for pennies. If that were the case, HRT would have moved the drilling campaign. If HRT hits, the value will be almost impossible to hide, and only fools would make such a poor decision. Nothing I have seen indicates management and the Board are staking the II out on a Brazilian anthill. If you have facts (not feelings) that they are in that process, please share them. If you have feelings, I have two suggestions – a stiff drink or a good psychic.
Third, third parties could have a malevolent intent toward HRT shareholders. Frankly, a takeover on proof of concept is always a possibility with any company. If that happens, we all get to vote with our shares, and like an election with two candidates, the one with the largest vote wins. Until Namibia is completed, HRT is such an exploration wildcard that I just have difficulty seeing the boogieman paying any attention to us – that is unless you really like conspiracy theories. In May the proof of concept was presents, and without a cap, the market killed us. If you have post May 2013 facts, all of us would like to see them.
At this point, we are probably weeks away from what could be the final at bat for our team in a World’s Series caliber game. We have a runner on base after the first at bat this inning – couple of hundreds of meters of source rock with no cap. Maybe our blocks are catching some of this BEEEEG oil and maybe not. The current drill and Moosehead will either bring that runner across the plate or not. I have taken a long position here, and honestly if I personally knew officers and Board members, I could be coaxed to invest even more. All we need is one hit to score one or more runs.
Some days I can almost taste victory.