Petro Rio S.A. ADR fka HRPTY

[Tomas4]

I agree Northsun on Asset sales

But I do disagree on the timing since they could have announced the Helicopter deal a few weeks late since it has been in the works 6-9 months now. The other asset sales were needed but why release then 1 week from TD. I do put some minor positive thoughts based off HRT TRACK HISTORY of only doing major announcements during the drilling campaign after dry hole.

I personally would not be surprised if this is dry that they announce the 10% additional sale to TNK for the Brazilian assets. Again just speculation but other than a Meerkat farm in I see little in the rumor mill of reserve capital to announce. I must say that longterm I still am a major holder of HRT and find some solice in having the 3 hedgefunds especially Southern invested. They have 30% of company and cant get out quick. So either sell of company or time will have Namibia or Brazil have a major oil hit.

Tomas