Replies to post #5739 on Petro Rio S.A. ADR fka HRPTY

[DrillaHill]

Hi Bob, my thoughts are PetroRio should be trading a lot higher...

As for net income - financial income was ~R$110m - I believe mainly driven from investments made in "Oi SA" (BVMF:OIBR3) in 3Q16. According to the following article PetroRio started buying shares in Oi (6% of outstanding shares) at R$0.8 "which have increased by 330% since then."

Dispute between shareholders may hinder Oi's recovery (google translater)

OIBR3 is currently trading at R$2.23


Conference Call with Q&A tomorrow:
webcast.neo1.net/Cover.aspx?PlatformId=RreJlP9xFsJ7M%2FNl8uzKww%3D%3D