RIO DE JANEIRO, Dec. 8, 2016 /CNW/ - Petro Rio S.A. ("PetroRio" or the "Company") (BM&FBOVESPA: PRIO3, TSX-V: PRJ) hereby informs, as requested
by IIROC - Investment Industry Regulatory Organization of Canada, an entity that acts in
the Regulation of Canadian marketplaces, that according to material fact published on December
7th, 2016, BRASIL PLURAL CORRETORA DE CÂMBIO, TÍTULOS e VALORES MOBILIÁRIOS S.A ("Brasil Plural") was hired
to act as PetroRio's market maker on BM&FBOVESPA S.A. - Securities, Commodities and Futures Exchange. Brasil Plural began to
act on December 8th, 2016 and its contract ends on February
18th, 2017 with the possibility of being extended by common agreement between the parties. The market making fee
is less than $8,000 Cdn (Eight thousand Canadian dollars) per
month.
Sedar Profile # 00031536
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About PetroRio
PetroRio is one of the largest independent companies in the oil and gas production in Brazil.
It is the operator of the Polvo Field, located in the Campos Basin, which has Brazil's seventh
largest daily production of barrels of oil equivalent (boe). PetroRio is the owner of "Polvo A" fixed platform and a 3.000HP
drilling rig, currently in operation in this Field, being the platform connected to the "Polvo FPSO" vessel, with capacity to
segregate hydrocarbons and water treatment, oil storage and offloading. Polvo Field license covers an area of approximately 134km2,
with several prospects with potential for further explorations. The Company´s corporate culture seeks to increase production
through the acquisition of new production assets, the re-exploration of assets, increased operational efficiency and reduction of
production costs and corporate expenses. PetroRio's main objective is to create value for its shareholders with growing financial
discipline and preserving its liquidity, with full respect for safety and the environment. For further information, please visit
the Company's website: www.petroriosa.com.br.
Disclaimer
This news release contains forward-looking statements. All statements other than statements of historical fact contained in this
news release are forward-looking statements, including, without limitation, statements regarding our drilling and seismic plans,
operating costs, acquisitions of equipment, expectations of finding oil, the quality of oil we expect to produce and our other
plans and objectives. Readers can identify many of these statements by looking for words such as "expects", "believe", "hope" and
"will" and similar words or the negative thereof. Although management believes that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. By their
nature, forward-looking statements require us to make assumptions and, accordingly, forward-looking statements are subject to
inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking
statements because a number of factors may cause actual future circumstances, results, conditions, actions or events to differ
materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements and the assumptions
underlying the forward-looking statements. The following risk factors could affect our operations: the contingent resource and
prospective resource evaluation reports involving a significant degree of uncertainty and being based on projections that may not
prove to be accurate; inherent risks to the exploration and production of oil and natural gas; limited operating history as an oil
and natural gas exploration and production company; drilling and other operational hazards; breakdown or failure of equipment or
processes; contractor or operator errors; non-performance by third party contractors; labor disputes, disruptions or declines in
productivity; increases in materials or labor costs; inability to attract sufficient labor; requirements for significant capital
investment and maintenance expenses which HRT may not be able to finance; cost overruns and delays; exposure to fluctuations in
currency and commodity prices; political and economic conditions in Namibia and Brazil; complex laws that can affect the cost, manner or feasibility of doing business; environmental, safety
and health regulation which may become stricter in the future and lead to an increase in liabilities and capital expenditures,
including indemnity and penalties for environmental damage; early termination, non-renewal and other similar provisions in
concession contracts; and competition. We caution that this list of factors is not exhaustive and that, when relying on
forward-looking statements to make decisions, investors and others should also carefully consider other uncertainties and potential
events. The forward-looking statements herein are made based on the assumption that our plans and operations will not be affected
by such risks, but that, if our plans and operations are affected by such risks, the forward-looking statements may become
inaccurate. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.
The forward-looking statements included in this news release are made as of the date of this news release. Except as required by
applicable securities laws, we do not undertake to update such forward-looking statements.
SOURCE PetroRio
