Petro Rio S.A. ADR fka HRPTY

[DrillaHill]

Petrobras Potential Partner in Solimoes Basin


Looks like Petrobras could be HRT's & Rosneft's
new partner in Solimoes Basin,
for the monetization of gas resources
and Exploration for
Light Oil - Rosneft believes in 1.5 Billion boe potential

Now we have
Cash-from-Farmout-Potential in
Solimoes & Polvo
(Namibia in my opinion in 2H14 following Repsol well)
My guess is
from Polvo 30% US$50MM to US$60MM
from Solimoes 20% US$100MM to US$150MM
(Could have significant Impact on Shareprice with Market Cap ~US$120MM)

HRT’s team includes PhDs and masters in geochemistry, geophysics, biology and engineering,
most of them former employees of Petrobras and ANP (Brazil petroleum agency).


HRT Petroleo:

4Q13 Earnings Release
(p.07, Next Steps)

Considering the signing of a final agreement for the assignment of a 6% participating interest in the
Solimões Basin to Rosneft, HRT and Rosneft will develop a new Strategic Plan for the upcoming years.
The main points of this work plan are:
(i) an exploration program for 2014-2015, after a full re-assessment of existing information;
(ii) the development of an economic assessment of natural gas discoveries (PADs) submitted to ANP; and
(iii) the continuation of a farm-down process to manage HRT’s exposure in the Solimões Basin exploration, as well as financial risks.
Discussions with Petrobras are ongoing. After completion of preliminary studies for the monetization of
the natural gas discovered in HRT’s wells, along with resources found in the Juruá Field, the Company
remains confident in the development of partnerships for the monetization of relevant existing gas
resources in Amazon.


Rosneft:

Rosneft shuffles establish a joint venture with state-owned Petrobras

Rosneft representative said that
potential resources Solimoes could actually reach
1.5 billion barrels of oil equivalent
To sell this oil in Brazil,
Rosneft shuffles establish a joint venture with state-owned Petrobras
Besides gas,
Rosneft aims to discover the Solimoes oil
during geological works planned for 2015 and 2016, said company spokesman. According to expectations,
it will be mainly light oil

GLA