Petro Rio S.A. HRTPF

Aura Cluster Farm in

[wallywill]

https://www.cgef.org/clients/b/b9/b998539fe09babf4dcb5a5ab948469ef/File/Arua%20Farm%20Down%20Opportunity%20solimoes%20Basin%20Final%20HRT.pdf

GLTA

Wallywill

[grover11]

drilling to commence in 2nd quarter 2013... which is very soon... Brazil is a go still! 

[rob926]

I guess they had no takers and drilled the first well anyway and it was a duster. Marcio might be a great geologist but he sure can't find any oil for himself only others! I think there is trouble with Rosneft now that they are owners of TNK/BP.

[rob926]

Grover11 the first well #11 was already drilled in the 2nd quarter and had oil shows that migrated somewhere else and left behind saltwater. At this point there are no plans to continue exploring in the Amazon's.

[REBaller1]

IMO, I believe there were a lot of investors hoping to make a quick buck on the first namibia well and have moved on.  I think we will get  a little run up end of July, maybe before if there is a gas monetization plan.  It will be nice to see what HRT gets on its balance sheet from the Polvo deal and earning to boot.

[robnhood]

That theory would make more sense if the price had moved up into the results. That has not at all been the case. Except for the very odd flash up move , this stock has spent its entire time going down. There is now virtually no faith that this company will find oil.

[Bob322]

The package said LOIs were due by 4/21/13. On that basis, it could not have been HRT-11. So three pieces of news remain to be heard: - did Rosneft shut down the project? - if the project is still on, what is the drill date? - did we get a new partner for 15%-35% of the well? GLTA

[rob926]

Yes April 23rd 2013 was the date. That would have given them the time to accept the offer before the well that was drilling (HRT 11) hit the target zone. They said they would drill one of the 3 wells in 2013 that well was #11. This means no new partner and probably drilling is now on hold hence the price continuing to decline. Our only hope is a big hit at Murombe or Moosehead or we will be toast.

[BroStart]

Robnhood is spot on with this comment.. I have never seen less of an excitement... before results and drilling begins on any stock before. Usually there is at least that anticipation bump or the what if bump to move the SP up.  This one has done nothing, regardless of what is happening.  The only thing to move this SP up, is RESULTS, and definitive answers. Not maybes or what ifs