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Petro Rio S.A. HRTPF

"Petro Rio SA is engaged in exploration and production of oil and gas in Brazil and abroad. The Company is currently engaged in the hydrocarbon production in Polvo field."


GREY:HRTPF - Post by User

Post by robnhoodon Jul 08, 2014 10:02am
280 Views
Post# 22724557

Acquisition - 40% From Partic. In Field Of Octopus -

Acquisition - 40% From Partic. In Field Of Octopus -
HRT Petroleo (HRTP-nm) - Acquisition - 40% From Partic. In Field Of Octopus - Reap.
HRT OIL (HRTP-NM) - Acquisition - 40% of partic. in Field Octopus - Reap. HRT OIL (HRTP-NM)

Fact - Agreement with Maersk for the acquisition of 40% interest in the Campo de Polvo - Restatement

The company sent a restatement of the following disclosure:

HRT signs deal with Maersk for the acquisition of 40% interest in the Campo de Polvo

Rio de Janeiro, July 8, 2014 HRT Participações em Petróleo SA (the "Company" or "HRT") (BM & FBOVESPA: HRTP3, TSX-V: HRP), together with its subsidiary HRT Oil & Gas Ltd. (HRTO & G) , announces that it entered into a purchase and sale agreement with Maersk Energia Ltda (Maersk) for the acquisition of 40% interest in the Campo de Polvo field in the Campos Basin.

Completion of the transaction of purchase and sale between HRTO & G and Maersk is subject to certain conditions, among which the final approval of the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

HRT is to plan the extension of useful life of this field through the increase in production from proved undeveloped reserves.

The acquisition of 40% of Octopus Field confirms our confidence in the potential of this field of production. Six months of HRT as operator, we proved what we already knew about the field in the past and have him new perspectives for the development of production. This and more an important milestone in our growth strategy and sustainability, said Milton Romeu Franke, CEO of HRT
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