For sure all the trash talk from media
about management didn't help shareprice.
JG Petrochem's purchases did help
the shareprice to increase by more than 50%,
unfortunatly (IMO) followed by short term investors taking profits.
I am a bit concerned about Polvo Production.
HRT announced in February HRT O&G’s 2nd crude oil sale would likely happen by no later than the first week of March, 2014.
We should hear something by friday (4Q13 results) or by monday (Conf.Call), hopefully production is running without any problems!
Also, we still did not hear anything about running farmouts.
While I expect the deal with Rosneft about the sale of rigs and 6% Solimoes & operatorship to be completed and just waiting for approval by ANP,
I wonder what is going on with BWOffshore and their intention to acquire 30% of Polvo..
All in all with a Market Cap of ~US$116MM today,
HRT is a Buy to me. Farmouts will increase the Cash Position or finance further wells and development of gas reserves in Solimoes. Drilling plans in Namibia, Polvo & Solimoes is what the shareprice needs. (Look at Tower's SP who will start Drilling next month n Namibia)..
GLA
