Petro Rio S.A. HRTPF

Trading at Cash, Assets worth ZERO?

[DrillaHill]

Final Cash - R$ 2,8/share

1Q13 R$829 million

No value for Solimoes & Namibia?

at least TNK-BP & Galp Energia think it's worth their money

Solimoes - R$ 8,3/share

TNK is paying ca. R$ 2000 mio for 45%, from that point of view HRT's 55% is worth R$ 2444 mio or R$ 8,3/share

Namibia - R$ 4,3/share

Galp Energia said in a CC the total dry hole costs in Namibia would amount $100mio, shared costs would be 14% * $260mio (total costs) = $36,4mio, and $63,6mio should be farmin costs (for 3 blocks with 5,356 bn boe pmean) , that is $0,085/boe (pmean prospective) * 7,391bn boe pmean (total) = $628,24mio or R$1256mio or R$ 4,3/share

all in all R$15,4/share, or C$3,85/GDRshare is where we should be right now,

all we need is a positive spin on things and HRT has all chances to climb back to old highs,

a discovery of oil in murombe could be huge:

murombe (unrisked p50) 2,877 MMBO at R$10/boe would be worth R$28,77bn or R$97/share…

, here is a video with Marcio Mello talking about "Assets worth ZERO"https://vimeopro.com/user11965995/2012-agora-financial-investment-symposium/video/48921859

[kaosblues]

DrillaHill:  Thanks for crunching the numbers. Your estimation certainly puts a more positive spin on things and I am in general agreement with you.   A major hit at Murombe will send the doomsdayers, bashers and perpetual pessimists packing, and that would be music to all of our ears.  I am really fed up with their constant negativity, no matter what the circumstance

[Ogopogo007]

Last year in Vancouver, MM let it drop, HRT-10 was a massive gas find, this July....Agora is pumping MM is coming back....what might he drop? Murombe will almost be finished drilling,   Still trading for zero or less   Freak Niko finds gas, only has 10 of the offshore India project..pops $1.34 Friday  

[robnhood]

" "at least TNK-BP & Galp Energia think it's worth their money" TNK like a lot of others got in before they found nothing. They were caught up as well in the Brazilian boomlet. If TNK knew now what they would find they would likely not invest one cent. Galp did not invest all that much for a large frontier oil company. The rest of your post has a lot of "ifs" in it

[gusgold]

byron king aka kasoblues..you talk about the bashers..now lets talk about the pumpers..how many times have you done a pump and dump on HRT to the detriment of the poor slobs who pay good money to read your drivel

[kaosblues]

In a word, NEVER.  Stick that in your pipe and smoke it.