Saturday, February 13, 2016 2:52:23 AM
PetroRio with plenty of cash, acquiring producing assets..
Multibagger potential
one of the most promising Oil plays in Brazil
for Investors who bet on a reversal of Brent..
PetroRio website
PRJ & HRTPY (Global Depositary Shares) each represent 1/2 of an interest in a common share of PetroRio, PRIO3.
Cash (US$150MM) is almost 6 times Market Cap (US$26MM)
...will receive more cash from Rosneft in 1Q16 ~US$30MM (or ~R$120MM) from the sale of natural gas assets in Solimoes.
PetroRio produces heavy oil (30° API) in Campos Basin, Polvo Field (100%)
operating costs ~ US$30/bbl, (currently renegotiating contracts to lower costs)
PetroRio is in the stage of acquiring more production in Campos Basin, Bijupira & Salema fields - light oil (20° API), still waiting for approvals from the National Agency of Petroleum, think we can expect approvals still within this quarter.
acquisition costs amount to US$150MM to US$180MM of which 20% has already been paid.
Also, the effective date of acquisition is January 2015, so the 5.9 million barrel of oil produced in 2015 will have significantly reduced the acquisition price.
operating costs ~US$20/bbl to US$25/bbl
PetroRio wants more:
investorshub.advfn.com/boards/read_msg.aspx?message_id=120379272
"In a market with increasingly active sale, some Brazilian companies swim against the tide and enjoy the moment of crisis to invest in short-term production projects. It is with this vision that works today PetroRio, a company that is focusing on the expansion of its productivity and is seeking to acquire new fields to consolidate in a future resumption of the oil and gas sector. The oil, which accounts for an average production of 9000 barrels per day at Polvo field in the Campos Basin, seeking to reach the mark of 100 thousand barrels per day by the end of 2016 and evaluates the purchase of areas that are starting their life. According to Project Director PetroRio, Queiroz Nelson Tanure, the company is studying acquire Petrobras assets to expand its project portfolio, which in addition to Octopus, has only the fields of Bijupirá and Salema, still with its pending acquisition in National Petroleum Agency (ANP). The company is expected to release already happening in the first quarter of this year, which will raise your productivity to the level of 30,000 barrels per day."
Multibagger potential
one of the most promising Oil plays in Brazil
for Investors who bet on a reversal of Brent..
PetroRio website
PRJ & HRTPY (Global Depositary Shares) each represent 1/2 of an interest in a common share of PetroRio, PRIO3.
Cash (US$150MM) is almost 6 times Market Cap (US$26MM)
...will receive more cash from Rosneft in 1Q16 ~US$30MM (or ~R$120MM) from the sale of natural gas assets in Solimoes.
PetroRio produces heavy oil (30° API) in Campos Basin, Polvo Field (100%)
operating costs ~ US$30/bbl, (currently renegotiating contracts to lower costs)
PetroRio is in the stage of acquiring more production in Campos Basin, Bijupira & Salema fields - light oil (20° API), still waiting for approvals from the National Agency of Petroleum, think we can expect approvals still within this quarter.
acquisition costs amount to US$150MM to US$180MM of which 20% has already been paid.
Also, the effective date of acquisition is January 2015, so the 5.9 million barrel of oil produced in 2015 will have significantly reduced the acquisition price.
operating costs ~US$20/bbl to US$25/bbl
PetroRio wants more:
investorshub.advfn.com/boards/read_msg.aspx?message_id=120379272
"In a market with increasingly active sale, some Brazilian companies swim against the tide and enjoy the moment of crisis to invest in short-term production projects. It is with this vision that works today PetroRio, a company that is focusing on the expansion of its productivity and is seeking to acquire new fields to consolidate in a future resumption of the oil and gas sector. The oil, which accounts for an average production of 9000 barrels per day at Polvo field in the Campos Basin, seeking to reach the mark of 100 thousand barrels per day by the end of 2016 and evaluates the purchase of areas that are starting their life. According to Project Director PetroRio, Queiroz Nelson Tanure, the company is studying acquire Petrobras assets to expand its project portfolio, which in addition to Octopus, has only the fields of Bijupirá and Salema, still with its pending acquisition in National Petroleum Agency (ANP). The company is expected to release already happening in the first quarter of this year, which will raise your productivity to the level of 30,000 barrels per day."
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