Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Petro Rio S.A. HRTPF

"Petro Rio SA is engaged in exploration and production of oil and gas in Brazil and abroad. The Company is currently engaged in the hydrocarbon production in Polvo field."


GREY:HRTPF - Post by User

Comment by DrillaHillon Jan 30, 2014 6:58am
118 Views
Post# 22151611

RE:ANP Denial for Solimoes Extension (SOL-T-148, 149, 195)

RE:ANP Denial for Solimoes Extension (SOL-T-148, 149, 195)Three of the smallest blocks but still interesting ones, The size of these three blocks (SOL-T-148, SOL-T-149 AND SOL-T-195) is about 5% of the total area of all Blocks, so not really an important issue to me, but some may try to use this to get more shares for less money or to go short, in fact currently the market cap attributes no value to Solimoes, trading at cash levels and at the same time oil industry players like TNK-BP and now Rosneft value these assets by farming in, taking operatorship and buying onshore rigs. Solimoes is a huge area 42,000km² as big as Denmark, the three blocks are only about 1,600km² All discoveries HRT made are within other blocks.. One of these three blocks, SOL-T-148, the absolut smallest one of all 21 Blocks, is next to PetroBras Urucu Block with light oil discoveries, I think it is worth to fight for. And HRT does fight: "The Company states that it is analyzing the possible alternatives to change such decision, including an appeal to be presented to ANP." I am sure Rosneft wants them too, will be interesting if HRT with Rosneft as new operator can attract ANP to change their mind GLA
<< Previous
Bullboard Posts
Next >>