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

However as I mentioned before Venezuela’s actions regarding the failed sale very significant strategic coop. co insist for our company. Absent in an urgent resolution of our dispute with Venezuela which provides the proceeds expected from the sale of our interest in Petro Delta. As we pick options are now more restricted as it relate accordingly and given those the equity in that market as at this point award capitalization which to allow harvest invest forward with their [inaudible] more challenging and seems unlikely.

Rather without a neutral resolution with Venezuela or a larger capitalization the most likely outcome we include shorting it return with liquidity in order to defensively market our like a bone interest and you pick a bone sale proceeds to A fully form an arbitration, B extinguishing your lacks of abilities, and C finally distribute for remainder the shareholders, effectively pointing down the company with the exemptions of the arbitration claim. In seven days we will address new term liquidity to get us through the above process and short term which expects the run rate to be in one point three million dollar per month range includes our new term legal expense increase.

Our preference is to place the verge loan to the bone sale and where we will make happen the equity market from their current stance as on. We don’t have news on that approximate next few weeks. Although I remain helpful and open to a solution between the parties, we are not in the position to lazy actions described beforehand without a fern and an urge that resolve on the part of Venezuela authorities to address the problem and yet to be cleared that at this point no such discussion are taking price. Anyway I hope this call has been helpful you’re encouraged to follow-up if you have any questions and again thank you for joining us today.

Operator:

And that does conclude your teleconference for today thank you for your participation. You may disconnect at any time.