RIO DE
JANEIRO, Jan. 29, 2015 /CNW/
-PetroRio1, the new brand of HRT Participações em
Petróleo S.A. (the "Company" or "PetroRio") (BM&FBOVESPA:
HRTP31, TSX-V: HRP1), hereby informs its
shareholders and the market in general that, at a Board of
Directors meeting held on this date, the Board Members were
informed of the resignations of Ricardo Bottas Dourado from the position of
Chief Financial Officer, and Eduardo Laranjeira Jácome from
the position of Organizational Management and Investor Relations
Officer. During this same meeting, the Board Members unanimously
approved the appointment of Guilherme
Marques to fill the position of Chief Financial and Investor
Relations Officer.
Effective February 1,
2015, Guilherme Marques will
assume the responsibilities of his position and his term in office
will be unified with the other Executive Officers, which runs until
May 10, 2015.
The Company's Executive Board will now be
composed of the following members: Milton
Franke, Chief Executive Officer, Guilherme Marques, Chief Financial and Investor
Relations Officer, Ricardo Wagner,
Chief Legal Officer and Jose Carlos
Pedrosa, Business Development Officer.
The organizational changes reinforce the
alignment of PetroRio's Management with the strategy that has been
rigorously implemented and that prioritizes production increases
through production asset acquisitions, reduced production costs and
corporate expenses, the elimination of exploration risks and the
creation of value for shareholders.
1 The Company's corporate name will
remain HRT Participações em Petróleo S.A., until the new name is
proposed by Management for shareholder approval at the next
Shareholders' Meeting. The Company's shares and GDSs will continue
to be traded under the tickers HRTP3 on the BM&FBOVESPA and HRP
on TSX-V until the new corporate name is approved and the request
to change the tickers is authorized by the BM&FBOVESPA and the
Brazilian Securities and Exchange Commission (CVM). The Company
will keep its shareholders and the market in general informed of
the progress of this process.
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, through its
subsidiaries, holds a 60% participating interest and it is also the
operator of the Polvo Field, which is located in the southern
portion of the Campos Basin, at 100km east of the city of Cabo
Frio, Rio de Janeiro. PetroRio has
Brazil's seventh largest daily
production of barrels of oil equivalent (boe), with 20.3º API,
deriving from three producing reservoirs. PetroRio is the owner,
through its subsidiaries, of "Polvo A" fixed platform and a 3.000HP
drilling rig, currently in operation in the 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. Additionally, PetroRio holds a 55% interest
and is the operator of 17 exploration blocks in the Solimões Basin,
and also operates ten exploration blocks off the Namibian coast, in
the Orange and Walvis sub-basins. PetroRio is committed to
minimizing any possible environmental impacts on the sites where it
acts. Our commitment to the local communities is towards health
conditions, safety and quality of life. For more 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 HRT Participações em Petróleo S.A.