Chariot Share Discussion Threads

[ronan7] 14/5/2013 14:55

we will be having these discussions over the next few months as drills go into the ground around our areas

lets wait for them

one swallow does not make a summer

[moneymunch] 14/5/2013 14:39

Hrt up!!!! :-) :-) :-) :-)

Major find off shore Namibia stll a possibility...gla :-)

[royalalbert] 14/5/2013 14:38

1Q13 conference call starts at 15.00 our time, may be interesting, HRT 2.60% up.

[wild_goose] 14/5/2013 13:49

15mins to the open, anyone care to guess how much it will tank by.

[moneymunch] 14/5/2013 13:29

If Wingat was a duster, wouldn't you thought that they would have announced the results first and then got rid of the Ceo and Chairman?????

Ps most definately a buy imho...glla ......


latest comment from stockhouse.

still waiting for the results as per Bloomtard...........That's 2 strikes against the DISinformation machine..And I highly doubt any this week.....You'd be amazed what you hear if you just pick up the phone and ask a few questions.....

I like to say, "I told you so"......So I will say it again.."I told you so"

Ps wingat....c60 day drill........c10 days to go....:-)If Wingat was a duster, wouldn't you thought that they would have announced the results first and then got rid of the Ceo and Chairman?????

Ps most definately a buy imho...gla :


latest comment from stockhouse.

still waiting for the results as per Bloomtard...........That's 2 strikes against the DISinformation machine..And I highly doubt any this week.....You'd be amazed what you hear if you just pick up the phone and ask a few questions.....

I like to say, "I told you so"......So I will say it again.."I told you so"

Ps wingat....c60 day drill........c10 days to go....:-)

[belisce6] 14/5/2013 10:50

thanks royalalbert

[royalalbert] 14/5/2013 10:34

09:53

HRT shares plummet after exchanging the ...

preciousmaj

















HRT shares plummet after exchanging the presidency

SÃO PAULO and RIO - Shares of HRT Participações oil closed sharply down on the BM & FBovespa on Monday. The papers ended the session lower by 17.39% to U.S. $ 3.80.

On Friday, Marcio Mello, founder of the Brazilian oil company, resigned as chairman of the company and today the company announced the appointment of Milton Romeu Franke for the position .

Franke joined HRT in 2009. He was part of the company's board and had the role of leading the engineering, drilling and production.

HRT also reported today that Wagner Peres, President of HRT America, announced the decision to resign from May 10.

Analysts

The change of command may indicate change in company strategy. Analysts saw the news as positive, but they do have a warning: the roles of the company can be considered as risk with high volatility due to uncertainties about the future of the company.

The market now awaits results of HRT's exploratory campaign in Namibia, Africa, where oil search. "It was an expected change, because a group of shareholders became concerned with the management of the company," said Adriano Pires, director of the Brazilian Center for Infrastructure. "HRT has lost market value and was very dependent on discovering oil in Namibia or not," added the analyst.

Report prepared by BofA reinforces the idea. According to BofA, the company's future will depend on the results of the exploratory campaign in Namibia. "Due to the high risk, we maintain a cautious view for HRT," said BofA.

However, the bank agrees that the positive point of view, the change in the presidency could contribute to a change in company strategy. "However, we continue to see significant risk to shareholders," said the BofA.

The restructuring of the tax advice and administrative company has indicated that HRT would have new manager, said Adriano Pires. For him, the strategic change has been indicated with the acquisition of 60% stake in the Polvo field, which belonged to BP last week. The news of the purchase was seen as positive, as the company is replaced by oil production.

In turn, the analyst of Banco Espírito Santo, Oswaldo Telles also rated the change in presidency as positive report. "The name of Mr. Mello became associated controversy after apparently having proposed unpopular measures, such as a stock repurchase program, which was rejected at a time when market confidence in the company was already low," said analyst . According to Telles, BES sees as positive the company is also using the experience and knowledge of Márcio Mello "as a consultant, without the political baggage associated."

A point highlighted in a report from Credit Suisse is related to the influence of the change in command in the news company's future. Credit for the output Mello presidency can bring a stream of news about possible mergers and acquisitions - which can lead to high shares of the company. However, in its report, Credit Suisse notes that, despite this relatively positive outlook, volatility roles should continue.

( Daniela Meibak, Marta Nogueira and Luciana Bruno | Value)

[belisce6] 14/5/2013 10:34

ronan7
14 May'13 - 10:19 - 2697 of 2698 0 0

can you paste it here oh royal one



(i second the polite request above... :-)))

[moneymunch] 14/5/2013 10:23

So everychance that HRT have made major Namibian find, and yesterdays drop in share price was an ochestrated tree shake....????? :-)

[ronan7] 14/5/2013 10:19

can you paste it here oh royal one

[moneymunch] 14/5/2013 10:18

Investment Funds Seen Driving surprise shuffle at HRT

--Oil startup's CEO, key U.S. executive tendered resignations Friday

--Recent changes to company's board driving management shuffle, analyst says

--HRT still not expected to be big player in Brazil's oil-lease sale

By Jeff Fick

RIO DE JANEIRO--Brazilian oil startup HRT Participacoes em Petroleo SA (HRTP3.BR) completed a surprise management shakeup Monday in what analysts see as a push for change by two investors after a series of setbacks.

Southeastern Asset Management and Discovery Asset Management, which together control nearly 20% of HRT's shares, drove the change after gaining greater say over HRT's board of directors, said analyst Luana Helsinger of the Grupo Bursatil Mexicano brokerage in Rio de Janeiro.

Discovery fueled the shift on HRT's 11-member board by getting three of its candidates elected last month, Ms. Helsinger said. While four board members remain clearly linked to the company's founders, led by former Chief Executive Marcio Rocha Mello, the affiliations of the remaining four members are unclear, Ms. Helsinger said.

Discovery declined to comment for this article. Southeastern didn't respond to requests for comment. HRT declined to comment, saying it would discuss the matter in a conference call on Wednesday, after the release of its first quarter financial results.

Milton Franke was named as the new chief executive on Monday, after Friday's surprise resignation by Mr. Mello, the company's charismatic founder. Mr. Franke, who joined HRT in 2009, spent 26 years at state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR) in the company's engineering and research departments. Wagner Peres, president of U.S. subsidiary HRT America, also resigned Friday. Mr. Mello and Mr. Peres will remain as members of HRT's board of directors.

While Mr. Mello's enthusiastic salesmanship drummed up interest in the company ahead of a $1.5 billion initial public offering in November 2010, HRT has stumbled on some of its projects. HRT has discovered natural gas in a remote area of the Amazon jungle known as the Solimoes Basin, but has struggled to find ways to get it to market. HRT also struggled to attract partners for blocks it owns off the coast of Namibia.

HRT eventually sold stakes in its exploration blocks in Brazil and Namibia, but the delays raised concerns among investors about when the company would generate concrete results. HRT shares have tumbled more than 50% over the past year. On Monday, the shares declined 17.4% to 3.80 Brazilian reais ($1.89).

"The market didn't like the change very much," said Pedro Galdi, chief analyst at Sao Paulo brokerage SLW. But profit-taking and an overall weak day for Brazilian shares were also amplifying HRT's decline, Mr. Galdi added.

Merchant bank Tudor, Pickering, Holt & Co., LLC said in a note that the resignation could "ring some alarm bells" ahead of results from two key exploration wells in Namibia and Brazil, due in the next few weeks.

Ms. Helsinger said that once the dust settles, the changes are likely to be viewed as positive. Mr. Mello's enthusiasm created high expectations for HRT after he promised to deliver production quickly--a description that's rapidly becoming a meme in the Brazilian oil industry given the woes of another billionaire Brazilian oilman, Eike Batista.

Mr. Franke represents "continuity, but is more reserved," Ms. Helsinger said. "He'll create fewer expectations."

HRT also will start generating revenues in the near future after agreeing last week to buy a 60% stake in the offshore Polvo heavy oil field from BP PLC (BP, BP.LN) for $135 million. The field produces about 13,000 barrels of oil a day.

HRT also owns a 55% interest in 21 exploratory blocks in Brazil's Solimoes Basin; it operates 10 exploration blocks off the coast of Namibia and holds minority interest in two others.

The changes at HRT also come on the eve of Brazil's auction of oil and natural gas exploration concessions, the country's first in five years. Brazilian regulators will sell leases in 289 exploration blocks Tuesday and Wednesday. HRT, however, isn't expected to be a big player, as it is hoarding its cash to pay for exploration and development.

"It will be difficult for HRT to actively buy blocks," Ms. Helsinger said. Instead, it's more likely that the firm would join forces with a foreign oil company that would pay for the blocks in exchange for HRT's knowledge about Brazil's oil-bearing basins, she said.

Write to Jeff Fick at [e-mail]

[donald tramp] 14/5/2013 10:10

WG

Are you real, your language is one of the worst on advfn, you're just a wind up merchant.

[royalalbert] 14/5/2013 10:04

Hedge, read the 09:53 post on iii, very interesting.

[bullinachinashop3] 14/5/2013 09:52

cant believe this, 3 quid and back down again!!>!> wtf

[royalalbert] 14/5/2013 09:38

WG the 08.35 post is correct,the bit above is made up by you. If I was you be careful saying Wingat was a duster with no official statement released.

[wild_goose] 14/5/2013 09:24

Can we stop this bad language please.

You lot are a complete disgrace.

[wild_goose] 14/5/2013 09:23

This is the post.

Peres was in a bad position because he could not get a farm-in partner, and when Wingat was a duster, he was forced to go.
--------------

08:35
Re: your thoughts anyone
jon544
1
Inability to farm-out would fit the Wagner Peres resignation - he was the man nominated by the Board mins on 7th Jan.

6. Resolutions unanimously approved:

(c) Authorize Board member Wagner Elias Peres to conduct the negotiations with respect to the
Farm Down of assets in Namibia;

[wild_goose] 14/5/2013 08:42

Post from iii.

Looks like the HRT 4 drill campaign is cancelled.

There will be only 1 drill, and that is Wingat.

Campaign cancelled because it is a duster.

[moneymunch] 14/5/2013 08:29

just topped up at TRP at 1.275p....cheap as chips....fortune favours the brave..GL ;-)

[kiwimonk] 14/5/2013 08:14

strong buying by one firm in EOG with adjacent block to HRT suggests otherwise that it is a duster.
No-one can say, there is no leakage from HRT.
When CHAR share price dips below 20p - you watch the buys immediately come in. It's not all about wingat, believe me.

[royalalbert] 14/5/2013 07:21

Duster not sure, peeps jumped on a leaked story regarding rns, high volume Friday late in the day. Share price jumped 10%, rns out after trading hours, not what people expected (jump to conclusion duster owing to CEO leaving)share price falls. Today could be a lot more enlightening regarding news, believe news due over at HRT, watch the share price today for a more reliable view.