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Bullboard - Stock Discussion Forum Petro Rio S.A. HRTPF

"Petro Rio SA is engaged in exploration and production of oil and gas in Brazil and abroad. The Company is currently engaged in the hydrocarbon production in Polvo field."

GREY:HRTPF - Post Discussion

Petro Rio S.A. > Hey Grover, Ol' Buddy
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Post by SLAPSHOT69 on Jul 25, 2013 11:12am

Hey Grover, Ol' Buddy

NO......Now that a BJ over here equals 150 shares of HRTPY......I've been cutting back.....and adding to my POS......and Buggati....to be completely honest.....I have no take on Polvo as I got into this because of UNX  and dreams of an oil kitchen in Nam and huge oil fields in the Solimoes....if Polvo is the main focus now....I'd agree with you that we are screeeeewed beeeeegtime....don't get me wrong Polvo and further exploration in that area is nice, but nothing compared to Nam and Solimoes...it's getting late in the game and down by a few goals......We gotta do a BRUINS comeback like they did vs Toronto here.....gas monetization would tie her up and a commercial strike at Moosehead would be an OT winning goal.....and Grover...if we score the winner, I just might have a story or two for ya! GLTA

Slappy
Comment by grover11 on Jul 25, 2013 11:23am
$50 bananas for a BJ or 150 shares of HRP? Reach for the Irish spring and buy the shares! lol
Comment by buggati on Jul 25, 2013 11:27am
slappy..we are screwed without polvo...nam is a big duster and the huge oilfields in the solimoes is bs...right now HRT has stranded gas, tax credits, polvo, and fast dwindling cash reserves
Comment by grover11 on Jul 25, 2013 11:37am
Povlo is a monster cashflow deal IMO..... HRT has altered drilling from the Solimoes to focus on driling more holes around proven monster oil finds surrounding Povlo.... lets just hope the deal closes ffs... Lord knows we've been beaten with countless bad news and endless dissapointments RIO DE JANEIRO - Brazilian oil startup HRT Participacoes em Petroleo SA plans a new exploration campaign ...more  
Comment by buggati on Jul 25, 2013 11:53am
Plus HRT already has a partner at polvo..Maersk..a compamy with deep pockets
Comment by powerwalker on Jul 25, 2013 1:31pm
Thanks, Grover, for sharing this. This means that HRT has closed on Polvo, based on first ¶ and implies it has received a chunk of cash for the period 1/1/2013 to closing date.  Why no PR/Material Fact on its web site?  Broadcast the good news, IR!!!! It will be interesting to see if HRT states how much cash it received between now and the CC on August 14 for this ...more  
Comment by grover11 on Jul 25, 2013 1:36pm
no.. the haven't closed on it yet. I just put the release up stating they plan on drilling around povlo soon.
Comment by powerwalker on Jul 25, 2013 1:55pm
If they haven't closed, then Milton and IR need to be more careful in the words they use. "Brazilian oil startup HRT Participacoes em Petroleo SA plans a new exploration campaign at the offshore Polvo heavy oil field the company acquired earlier this month, Chief Executive Milton Franke said Wednesday."  [My emphasis]Unless it is another translation problem.
Comment by powerwalker on Jul 25, 2013 9:37pm
Grover, you forgot to post the whole article, written in May 2013.   Addition shown in red. May 15, 2013, 11:05 a.m. ET Brazil's HRT Plans New Exploration, Production Wells at Polvo Field   By Jeff Fick RIO DE JANEIRO--Brazilian oil startup HRT Participacoes em Petroleo SA (HRTP3.BR) plans a new exploration campaign at the ...more  
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