Petro Rio S.A. HRTPF

A forth prospect is very unlikely

[landmann]

"The next slide shows the status of the Namibia farm-out process. The main objective of the farm-out are the contract operators with existing Namibia acreage, Africa centered exploration companies and Angola/South Africa National Oil Company or NOC. HRT is looking to reduce risk, leverage learning’s from the Wingat, Murombe wells and generate additional funding for the remaining exploration program.

The status of this process is that a selection of 14 company, who previously visited HRT have been invited to review the Wingat-1 result. Then have (inaudible) our most companies have indicated that they are unable to meet HRT’s deadline constraint or do not have 2013 budget available for an entry. While that they have successfully generated after discussions with some perspective company nothing is finalized. Efforts continue to pursue with new partners however there is a diminish likelihood of adding a partner during this drilling campaign.

With that being said important ground work has been laid to develop future partnership for drilling HRT’s plan for 2014 and beyond."

So apparently the Marianas will just be parked after Moosehead...