Petro Rio S.A. HRTPF

Wed's Conf Call

[Ogopogo007]

Should be a very interesting time, doubled or squared if drill results are released on top of how MM's departure get's spun.

MM understand the exploration risk, JMHO, for him to leave the Co he founded,  has to be BOD/Shareholders conflicts. As his contract was up for renewal, perhaps the BOD newbies (unsure who sits on Compensation Review) were reluctant to rubberstamp his contract. By my calc's, IPEX brings in $200,000,000 USD/yr, isn't MM worth 10% of that?

Wonder why the US side uses a 866# that can't be used from Canada or at least my Province?

[gusgold]

It is not so much about higher risk or lower risk then it is about cash burn rate. HRT needs enough money to keep drilling in the solimoes until they hit oil. Unlike namibia the solimoes has oil wells with proven reserves https://www.anp.gov.br/brasil-rounds/round4/round4/workshop/restrito/ingles/solimoes_ing.PDF

[Oiljars51]

Gusgold, I agree with you about the cash burn rate, It is a significant point of concern. I believe the recent aquisition of BP's asset addresses part of that concern. This production will add to HRT's revenue stream for the next 6 plus years. But, Namibia is where HRT has decided to go elephant hunting. Namibia will make (or break) HRT. I recognize that you do not believe there is oil to

[landmann]

Namibia will make (or break) HRT. I would take the contarian view: while Nam will certainly “make” HRT, it will not necessarily break them.  Brazil may well be their future, with current and future drillings in the Polvo Field,  their Solimões Basin natural gas finds and potential oil discoveries, and any future participation in the next round of Brazilian off shore bids. 

[WESTCOASTOIL]

https://www.helioschariot.com/2013/05/12/hrt-one-theory/ It nakes sense to me. It might even make sense to the Russians - but who knows ;-)

[gusgold]

What that ANP link shows is the solimoes has the potential to bring HRT back to $10 a share even if the 3 wells offshore nam are dusters

[Oiljars51]

Gusgold, It did change my view of the potential impact of the Solimoes play.I was not aware of all the potential there. I can now understand where you are coming from and agree it does look good, very good. Thanks Again!