Petro Rio S.A. ADR fka HRPTY

[powerwalker]

A decision needs to be made to determine if HRT will be a regional O&G producer only or if its international ambitions are to go forward.

If the later, then there will probably need to be an increase in the number of authorized shares, so it can issue new shares (read dilution for current s/holders) to accumulate the capital for more drilling in Namibia (and/or ponying up its $$ share of the Amazon project).

For HRT to do this, it needs s/holder approval to increase the number of authorized shares.

Implicit in this may be that no company wants to deal with HRT on Namibia blocks for whatever reason.