hrt 4 wells offshore namibia, page-3

Today I listed to the podcast of the conference call of HRT after the release of their Q3/12 results and found it very interesting and promising (not only) for shareholders of PCL.

page to download

direct download

They talk in regard to the presentation, which could be downloaded here: HRT 3Q12 Presentation

After downloading it you have to put ".pdf" at the end of the file or try opening it directly from Adobe Reader instead clicking on it twice.

Here are the times, where they talk about offshore Namibia and their 4 wells campaign starting in Q1 2013:

8:30 about the completion of the 3D seismic offshore Namibia and their importance for the 4 wells planed in 2013

20:50 Wagner Perez about the drilling campaign offshore Namibia, the 3D seismic (again) and the farm-in discussions

25:00 about starting drilling campaign: will start around second half first quarter, but they are already drill ready 01. December

26:45 update about farm-in: expect to conclude cycle(?) of farm-out sometime in December, and to be ready when the drilling campaign start

28:12 end of November/ beginning of December update about resource to the market

46:10 question of UBS about farm-out Namibia: expected agreement completed in November, besides that NO MORE INFORMATION ABOUT it in the conference call due to confidentiality of the negotiations

1:06:38 wells & budget offshore Namibia: budget for 2 wells 100% carry for HRT, further 2 wells depend on farm-in, expect to get 4 financed due to farm-out

1:11:35 Question: first well in Namibia Wingat in Walvis Basin? => plan to drill first Wingat prospect, rig will be mandatory inspected in Walvis Basin, Wingat is next to it, to avoid mobilization fees shipping the rig around offshore Namibia (south to Orange Basin and back to Walvis Basin) they want to start in Wingat after the inspection AND Wingat has the highest chance of success

1:13:40 question about Wingat prospect, its geology and HRT's confidence of success. => explaination about similarity to Campus Basin (Brasil)

If they keep to their plans to start in Walvis Basin and if they will have the success they are hoping for, the one (ormore) who sold 11 million shares today will deeply regret this.

Cheers and have a good day,
Neo