While it is good to see something out on the Amazon, there is a fly in the ointment with this PR. Why is HRT seeking partners? Why aren't those partners Rosneft and PB? Aren't those two the logical ones? If HRT needs additional funds via farm-out for its share, why not state the status of Rosneft and PB? Are they moving forward or not?
Having dealt with Brazilians before and not impressed with their honesty or straightforwardness (their unspoken motto: I win, you lose), this PR is, not surprising, lacking in specifics. I know Brazilians like to hear themselves talk (they'll use 50 words, whereas, American will use 15 and Canadians 10), and if they weren't so nebulous in the action plan, I'd think this is good news.
Unfortunately, it is too vague ... why are Rosneft and PB only mentioned in the committee as each approved a report? That doesn't mean either will do anything about it, i.e., ponying up the necessary funds for a LNG plant.
N.B. I am a Byron King fan, and I believe his research and analysis trumps my Brazilian skepticism. If that has been misplaced, time will tell and shame on me.
