Significant Cash from Rosneft, Divestment program and Farmouts
In 3Q14 HRT will get another US$24MM from Rosneft,
and the potential sale of IPEX and farmouts in Namibia
(according to HRT "closer to be divested")
are imo likely to boost the cash position to over US$200MM(R$1.54/share)
plus a potential free carried well in 2015, Orange Basin, Namibia,
worth another ~US$30MM to US$50MM..
From the CC:
"As for the sale of assets, we continue with a strong activity of divesting. One is IPEX. We are receiving proposals from companies interested in acquiring that asset and also our blocks and licenses in Namibia. We are in a very strong discussion with a number of international players...
...this current debate has been so far very successful and so we hope to give investors good news very soon."
GLA
