RIO DE JANEIRO, Sept. 18, 2014 /CNW/ - HRT Participações em
Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3,
TSX-V: HRP), continuing with the initiatives to divest
non-strategic assets and reduce corporate costs, which began in
2013, hereby announces that has entered, on September 17th, into a Purchase and
Sale Agreement with Eurofins Scientific Group ("Eurofins"), to sell
its subsidiary Integrated Petroleum Expertise Company - Serviços em
Petróleo Ltda ("IPEX").
The purchase and sale transaction between HRT
and Innolab do Brasil Ltda ("Innolab"), Brazilian subsidiary of
Eurofins, is expected to be concluded within ten days and is
conditioned on compliance with certain contractual
requirements.
In addition to the transfer of HRT's entire
interest in the capital stock of IPEX to Innolab, the transaction
also involves the transfer of all IPEX's equipment, agreements and
employees.
"We are satisfied with the execution of this
agreement, given that the sale of IPEX will reduce corporate costs
related to laboratory maintenance. It also continues the program,
initiated in 2013, to divest non-core assets, enabling HRT to
become increasingly focused on its core business, pursuing new
opportunities to invest in production assets, as well as
prioritizing new partnerships in exploration assets," declared
Milton Franke, HRT's CEO.
Eurofins is a global leader in bio-analytical
services, offering a wide range of tests and trials for food,
pharmaceuticals and agroscience, as well as environmental analyses.
Eurofins has over 200 laboratories in more than 36 countries.
For additional information, please contact HRT's
Investor Relations Department.
About HRT
HRT, 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. HRT
has Brazil's seventh largest daily
production of barrels of oil equivalent (boe), with 20.3º API,
deriving from three producing reservoirs. HRT 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, HRT holds a 55% interest and is the
operator of 19 exploration blocks in the Solimões Basin, and also
operates ten exploration blocks off the Namibian coast, in the
Orange and Walvis sub-basins. HRT 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.hrt.com.br/ir
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.