Harvest Natural Resources, Inc. (HNR)’s Investors Conference Call Transcript

At the registration of the request the parties will each appoint an arbitrator and the chairman will be agreed to or pointed by ICSID. All together this process could take approximately six months, then sixty days of the apartment of the arbitration panel. A schedule hearing will be help to set forth procedure that matters relevant to the timeline case up to demonize for briefs exchange and production of documents hearing day etcetera. A specific timeline be on this point in deck will to project whatever of that case scenario would be looking at the hearing or the merits of late two thousand sixteen what is the decision from the panel in mid the late two thousand seventeen. However, those of you who will follow the arbitration proceedings involved in catacode exam mobile metal the process came hour will be for your ranking.

Now let’s move on and discuss what this action needs in terms of strategic plans in new term changes for the company. You will recall that we intended you to proceeds from the terminated close to transaction wants to present the award of directors be often that moving forward with early development appraisal aspiration of Japanese softer book where were there to outstanding things that today the aspiration program and where were putting the finishing touches or an interpretation of the out forward precisely or we continue to believe order of magnitude potential exist relative for our current discoveries. On the other end even in the case of the Venezuela of sale haven’t been estimated.

The board would also consider the option of a follow-up outright sale to voted return of capital of shareholders. To those were kind of arrange of options to be considered post poking of the Venezuela sale. Management’s focus of the past several months has been to fully develop these options for the board’s consideration. To that end we shut down all offices, the headquarters and Venezuela and cut our run rate to minimal GNA and technical and for engineering activities related to the vote. In bear well with those activities will take days of the past several months with select group of interested parties and discussed in commercial opportunities throughout the block including barmen’s as well as part for outright sales will continue to be active in that regard.