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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: fxfun who wrote (146029)	3/2/2011 2:52:48 PM
From: CommanderCricket	Respond to of 206177

fx, I don't think the market will ever give HNR credit for the Venezuela reserves. Far too easy for Hugo to take them away. CC

To: fxfun who wrote (146029)	3/22/2011 5:40:27 PM
From: fxfun	Respond to of 206177

HNR (Harvest Natural Resources) - Today they announced sale of their Utah assets for $215 M. Stock made a 14% jump on this welcoming news. finance.yahoo.com The price tag is about $4500 per acre or $14.3 per barrel of 2P reserves. Though I thought the price could have been higher the timing of this transaction is perfect. Now they can repay the bridge loan and avoid dramatic increase of interest rate, and more importantly, avoid the potential dilution of 4.4 million shares of warrant. By closing this transaction they can comfortably move on with their Indonesia and Gabon projects without worrying about issuing debts or stocks. Also by spining off the US assets they can package their international assets for any bidding interests (a chinese/korean company???). In today's cc management indicated it is ongoing but didn't want to comment more. Also we should hear more about the Indonesia exploration well soon. Many positive signs on that front from their 3/2 operation update. Anyone else following the story here?