Petro Rio S.A. ADR fka HRPTY

[Northsun0]

At least HRT didn't carry the whole financial cost of the drilling. Galp paid a high price for only a 14% interest if a well was successful.

They were smart when they got BP/TNK to put up 1 billion dollars for a 45% interest in Solimoes Basin in Brazil and for making a 135 million dollar deal for a 60% interest in Polvo.

I have primarily been investing in oil companies through out my investment career, to me this is just another set back that I have experienced before.

The important thing for me does HRT have good management I believe it does as demonstrated above.

HRT has cash, no debt, I feel HRT has a bright future, and this Moosehead set back will just become a distant memory.