Hero Technologies Inc (HENC)

[Hamilcar54]

I've been looking at the PEL license information and if I'm reading this correctly:

- This is the final renewal term of the licenses, if no oil is found on the PEL's then the licenses expire and both companies end up with nothing, no land, nada...

- If the above is correct then january 2020 and january 2021 are strict deadlines !

- If oil is found then a retention license can be obtained


Reading the HENC annual report it states that the goal is to still drill the 8 sites that they targeted when in 2015 the Baikal1 well was drilled. With the dry Baikal1 well removed that still leaves 7 wells to drill on both PEL's.

They better start drilling in 2019...