Hero Technologies Inc (HENC)

[Hamilcar54]

10K is out, most interesting items regarding future exploration:

We believe our plan of operations may require up to $500,000 for geological and geophysical costs and administrative expenses over the twelve-month period ending March 31, 2017. We are attempting to raise investment capital to cover these anticipated costs.

During fiscal year 2014, the seismic data pertaining to PEL 112 and PEL 444 was reinterpreted to better reflect the formations on the licenses and resulted in the identification of eight possible drilling sites. In December 2015 one well was drilled on PEL 444 which was not successful. The Company plans to raise additional capital to support the exploration and completion of those additional wells identified if they are anticipated to be productive.

The overall prospectivity of PEL 444 remains largely unchanged after the results of the Baikal #1 results. The Wingman 3D detailed several prospects, and although the subsequent Baikal #1 well was dry, experience has shown that individual wells can be dry both within an area of regional production and within producing fields themselves. Accordingly the continued exploration via drilling is warranted.