Petro Rio S.A. ADR fka HRPTY

[DrillaHill]

IPEX & Namibia Blocks, "closer to be divested"

Hrt already had proposals for IPEX and Namibia
at the time when the 2Q14 CC was held. (08/15/14):

2Q14 CC:

"As for the sale of assets, we continue with a strong activity in relation to two of our assets. One is IPEX. We are receiving proposals from companies and also our blocks and licenses in Namibia.
We are in a very strong moment of discussions with a number of international players. Those which are still trying to get into the African coast and we’re hopeful to be successful in farm-down in Namibia, still this year.
We have put for sale, I believe we have three S-61 helicopters, one Embraer plane, and we were able to rent one S-61 temporarily for a company that is operating in Brazil and this was a very good inflow of capital. So IPEX and Namibia are the two major assets that are closer to be divested in our divestment program."

I think we can expect Namibia farmouts and forward plans
very soon. Meerkat in PEL22 is a huge prospect,
possible well in 2015.

No idea how much HRT will get for IPEX,
but I expect something significant..

GLA