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?

[Oiljars51]

Interesting speculation concerning MM's compensation package Ogo. No doubt Mello has high cost of living requirements for his high maintenance lady friends! I also think there are bid proposals for a farm-in on the table, prior to results, that Marcio does not agree with. I believe MM thinks the cost of entry into HRT's prospects should be kept high or maintain HRT's 86% WI. I think

[WESTCOASTOIL]

Good Post Oiljars. The farm-in is supposed to happen before the wingat results - but that is just a timing issue I guess. The point is - some speculators are trying to tie the resignation to the wingat results. In reality there are many moving parts - farm-in's, recent deals wirh BP, the ANP auctions etc - and the resignation has to be looked at taking into account all these things. Only the

[gusgold]

My bet is HRT makes major gas discoveries offshore nam but no commercial oil. HRT will then team up with their current partner Galp and Tullow OIl  to monetize the gas.

[Oiljars51]

Excellent ANP link. Thanks Gusgold!