Revenue Update on Harvest Natural Resources(NYSE:HNR)

Harvest Natural Resources(NYSE:HNR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Earnings per share were $-0.11.

Harvest Natural Resources (HNR) remained unchanged at the close of Wednesday session. Even as the volume increased to 81,817 ,the shares failed to make any impression and ended at 0 points or 0.00% at $0.54. The trading session commenced at $0.55 and the stock hit a high of $0.55 and touched $0.52 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $1.64 and the 52-week low is $0.3. The company has a market cap of $28 M and has approximately 5,13,93,479 outstanding shares.

Harvest Natural Resources Inc. (Harvest) is a petroleum exploration and production company. The Company is focused on acquiring exploration development and producing properties in geological basins with proven active hydrocarbon systems. The Company has interest in the Bolivarian Republic of Venezuela (Venezuela). In addition to its interests in Venezuela it holds exploration acreage mainly offshore of Republic of Gabon (Gabon). The Company’s Venezuelan interests are owned through its 51% ownership interest in Harvest-Vinccler Dutch Holding B.V. (Harvest Holding). Harvest Holding owns 100% of HNR Finance B.V. (HNR Finance) and HNR Finance own a 40% interest in Petrodelta S.A. (Petrodelta). As of December 31 2014 the Company had operations in Venezuela and Gabon. The Dussafu PSC contract area is located offshore Gabon adjacent to the border with the Republic of Congo. It contains approximately 680000 acres with water depths of approximately 1650 feet.

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