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great header alright!
It's been a good ride; we've profited from your contributions and commentaries here; all the best!
Good news about our partner, on top of the positive HRT 3rdQ results.
ochacal, well done, very good research here. Thanks for the valuable information.
a part of the decline in share price, as quoted in dollars, is clearly due to dollar appreciation vis-a-vis the Brazilian currency; the "real" is nearing an all time low right now.
Drill, I happen to be one of the many investors here who does remember Knowledge Katti, well-connected Namibian businessman and HRT friend.
Good to know that Mr. Katti was present at the Dubai summit.
Many thanks for having shared the news.
WF, you are right, it is possible to turn the decision around; HRT will have to make necessary adaptations (if any) to the working plan, in order to comply with the regulators' concerns/arguments/wishes, whatever; more paper work, a bit more time, but it is "do-able" for sure.
On another front, HRT has a strong case when it comes to its share of the HammerShark Reservoir. Chances are those rights will be recognized by the regulators; a game changer like few others.
Reuters, the news service, has just published a piece on HRT, dated Oct. 15th, 2014, after they've visited the Polvo platform at sea; they have also interviewed HRT's CFO Ricardo Bottas for the article.
Here's the link (in Port.)
http://br.reuters.com/article/domesticNews/idBRKCN0I42T320141015
Marcos, that's an excellent confirmation of the deal signed by EcoAtlantic and Tullow (plus Namcor, the state company, and Azymuth). They plan to drill in 2015 offshore Namibia, not far from where HRT found oil ,though non commercial(Wingat). Wish them success.
"JGP put a lot of time & money in HRT"
As for example in the positive changes they've made in the management of the company. JGP is here for the long haul.
Marcos these are excellent news. If more proof were needed, Rosneft has shown with this discovery how good it is in finding hydrocarbons, even in the most remote and hostile places. If they like remote, Solimões might just as well make the grade. Let's hope they come up with the same positive results in their explorations there, along with partner HRT..
Chinese company picked by Namibia to build $1.2bn gas-fired power plant to boost the country’s power supply. Gas to be supplied by the Kudu gas field, offshore Namibia. As we all know, HRT’s blocs encircle Kudu, so any development related to Kudu will strongly benefit the commercial potential of HRT’s assets.
http://cached.newslookup.com/cached.php?ref_id=71&siteid=2060&id=8455053&t=1411676076
It reads like if the writer were Brazilian she would vote for the "green" candidate portrayed in the article. But alas that wouldn't make a dint of difference. According to recent polls there's little doubt about who is going to be sitting in office as the Brazilian President for the next four years, come Jan. 1st, 2015: the incumbent, old Roussef herself.
Northsun0,
I gather the information you received from IR is very positive. Much to look forward to, some of it, like the Namibia business, might turn out to represent a whole new ball game for this company.
Northsun I coundn't agree with you more in regard to ANP's snail pace. But if we're talking about Rosneft buying 6% into Solimões and becoming the operator, that part has already been approved and sealed, back in early July '14.
What concerns the remaining 40% of Polvo field passing into HRT's hands, you are right, there we have to wait and wait and wait till we finnaly and hopefuly get ANP's approval (and alas there's no Russian participation in Polvo that could help a bit and speed things up..)
Many thanks to DrillaHill for post 4504.
BVE the question you considered the most important (the cost of the remaining 40% of Polvo paid by HRT to Maersk) has already been answered in the financial statements of Q2 results. Go please to page 18 and there you have it: 68 million reals (in round numbers) for the acquisition.
Drilla, your reasoning makes sense to me. You might as well have come accross this information:
AVENTTI STRATEGIC PARTNERS LLP
20-22 BEDFORD ROW
LONDON
UNITED KINGDOM
WC1R 4JS
(1,838 companies also use this postcode, this is probably a mail forwarding service address)
https://www.companiesintheuk.co.uk/ltd/aventti-strategic-partners
Aventti as a new investor in HRT. Probably more folks will decide to invest in HRT, now under new, cost conscious and a very professional management.
Polvo potential made clear. (thanks Drilla, 4301)
Well researched (4271). Thanks Drilla!
HRT up 11,6% today at Bovespa.