Petro Rio S.A. HRTPF

2 Keys

[VanWilder1]

In the second half of March, the Company spudded the well HRT-11, on the Cajazeira prospect, at SOL-T-172
Block, located approximately 60 km to the northeast of the Leste do Urucu Field.
The main target of this well was to identify the presence of hydrocarbons in Carboniferous reservoirs of the
Juruá Formation, encountered at 2,230 meters depth, and the secondary target was to identify the Devonian
reservoirs of the Uerê Formation reached at 2,300 meters depth, with hydrocarbon accumulations. This
well was drilled by the QG-VIII, with a total depth of 2,400 meters and is now being evaluated.

In March, HRT Africa spudded the Wingat-1 (2212/07-1) wildcat well, the first offshore well in our 3-well
back-to-back exploratory drilling campaign. The Wingat Prospect is located in PEL 23, approximately 200
km northwest of Walvis Bay, in 1,034 meters of water depth.
The main objective of the well was to test the resource potential of the Albian (Cretaceous) carbonate
platform that has a well-defined seismic amplitude anomaly in the PSDM-3D data set.
HRT forecasts that the current activities in the Wingat-1 well will be concluded next week.

[NeoM]

I would add from the Management Report on page 3: "In the first quarter, HRT announced the spud-in of the Wingat-1, at PEL-23, the first offshore well in its three back-to-back drilling foreseen at its exploratory campaign this year. This well had a target to encounter the reservoirs of an Albian carbonate platform, which were hit at 4,050 m depth below the sea-level. HRT forecasts that the

[TimeOnTarget]

VanWilder1-- I found the same langauge intesting.  NeoM followed up quoting some other langauge:   ""In the first quarter, HRT announced the spud-in of the Wingat-1, at PEL-23, the first offshore well in its three back-to-back drilling foreseen at its exploratory campaign this year. This well had a target to encounter the reservoirs of an Albian carbonate platform, which

[gusgold]

Why try and read into anything put out by these clowns..they are to dumb for crptic language...in 7 days you will have the answer on wingat and hrt 11.....

[TimeOnTarget]

Yeah, you have a point, but it is kind of fun . . . . I just read the post by Jimmy on the Chariot board-- I found it very interesting--but I need to think about it more and pull some of the geology articles.

[NeoM]

Hi TimeOnTarget, thanks for your reply! I had almost the same thoughts, that's why I was asking. Let's see what the outcome will be ... Cheers and have a good evening, Neo

[TimeOnTarget]

Neo-- My pleasure, although I am not sure I added much.   I only found out about HRT  at the end of March, so I am still reading and trying to learn--and trying to resist the urge to buy even more stock until I do . . . . . Fascinating stuff--way more interesting than studying AIG . . . . .