Petro Rio S.A. ADR fka HRPTY

[ghillaman]

Saw this on the Helios Chariot board,

Posted by Jimmy on iii

I think HRT are now very confident of finding oil in their next well. Please see the Galp Energia announcement of the result at :
http://www.galpenergia.com/EN/Investidor/Noticias/Paginas/Wingat1explorationwellresults.aspx

I agree with JIA that the probability of the Baobab horizon in HRT’s next well of finding oil, must be very high. Although the reservoir properties for an economical oil field have to be proven. The deeper Murombe fan is where the huge oil volumes are expected. HRT will have tested the cap rock above this prospect when it drilled deeper at Wingat.

If the Wingat well results were unclear or bad, then HRT would have bought time and moved the rig to Moosehead, which they did not do.

From an anecdotal point of view, the HRT management team would not have gone to the Namibian Presidential Palace and met the Prime Minister and Energy Minister, unless there had been a significant and meaningful geological breakthrough.

When BP sold their interest in the Brazilian Polo field to HRT at what appears to be a very attractive price, you can be sure they did a deal to get the Namibian well results thrown in. Watch BP’s decision concerning its Serica acreage for indications about their thinking.

Jimmy

It looks like the Transocean Marianas is on the move.

http://www.marinetraffic.com/ais/shipdetails.aspx?mmsi=538002209

That is all.



Ghillaman