Petro Rio S.A. ADR fka HRPTY

[DrillaHill]

Namibia, serious contacts, expect farmout before year end...

Windhoek - HRT Participacoes em Petroleo SA, the Brazilian oil explorer that failed to find commercially viable deposits in Namibia after drilling three wells, says it might secure partners at some of its 10 Namibian blocks before the end of the year.

www.southerntimesafrica.com/articles/10362/Namibia--pushes-oil-companies-to-drill-more-----/#.VClgxmdxnIW

“We are hopeful to find partners to provide us with finance to drill. We are looking at farming out at all our blocks and we have opened a data room in Houston,” Martin Thomas Davis, HRT Africa President said in an interview, in Windhoek.

“There have been serious contacts by a number of well-known companies, by the end of the year we would have made significant progress on this,” Davis said, on the side lines of an oil and gas conference organised by Rich Africa Consultancy.

GLA