When I posted that even laying off all the old administration to Petrorio did not bother to have anyone on staff able to play and evaluate business in oil and gas area, nobody cared. The chairman of the board of directors is political and broadcaster. The other board members are mostly coming from other companies of the businessman who acquired part of the shares. The company's CEO is a former Chief financial officer of a resort. Who speaks for the company is the son of the businessman who acquired shares, but without any previous experience that enables you to do so. For these reasons we see the Wood Group be hired for a 2 year contract. Exact period of life that I estimated to Polvo Field. That is, for lack of jurisdiction on the group that left the administration, they need to hire who know how to do the basic work, which goes against the current cost-cutting policy disclosed. Wood Group is celebrating a contract. HRT is lossing much money to pay them to operate HRT works in the Polvo field in which, in the end, they will sell the oil below what it cost to produce. It is the spectacle of burning money and the some shareholders celebrate this news as something good.
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