Petro Rio S.A. HRTPF

RE:RE:Renzo

[Rzbern]

I do not believe that the breakdown of negotiations of GDS is a technical problem. In my understanding this was accomplished by the SEC motivated by a complaint from any GDS shareholder. Despite having occurred simultaneously with the disclosure of the acquisition of Shell's fields, do not think the relationship is this, because any procedure by the SEC, as well as any regulatory agency securities, has a delay, procedures and red tape. In my understanding this has more to do with the exclusion of GDS regarding the debentures.