GREY:HRTPF - Post by User
Post by
buggation Jul 20, 2013 8:17pm
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Post# 21620115
The Solimoes is Now The Only Hope
The Solimoes is Now The Only Hope2 years ago I posted that there is no commerical oil offshore nam..there is a small chance moosehead contains enough gas to make a deal with Tullow Oil a possibility. MM has stated that HRT has discovered 3 tcf of gas and there is still 10 tcf yet to be discovered. Brazil needs the gas and is presently importing from Bolivia. When HRT said they were scaling back the solimoes after the HRT 11 duster I think this only applies to future drilling and not monetization. If HRT 11 had been an oil well that would have been some quick cash flow. Now with HRT's limited capital it does not make any sense to drill more gas wells now. 3tcf is enough gas to monetize now and after HRT gets a cash flow they can go discover the other 10tcf. Since brazil needs the gas I believe the government through their state arm petrobras will develop a plan to monetize the gas.