RIO DE JANEIRO, Dec. 7, 2016 /CNW/ - PetroRio (the "Company"
or "PetroRio") (BM&FBOVESPA: PRIO3, TSX-V: PRJ) in compliance
with CVM Instruction 384 as of March
17th, 2003 hereby informs its shareholders and
the market in general that BRASIL PLURAL CORRETORA DE CÂMBIO,
TÍTULOS e VALORES MOBILIÁRIOS S.A. (CNPJ/MF no.
05.816.451/0001-15), headquartered in the city of São Paulo,
Brazil at Rua Surubim, 373, was
hired to act as its Market Maker from December 8th, 2016 onwards on
BM&FBOVESPA S.A. Securities, Commodities and Futures Exchange
aiming to increase the liquidity of the Company's common shares.
The contract is effective as of November
18th, 2016 for a period of 3 (three) months
ending on February 18th,
2017 with the possibility of being extended by common agreement
between the parties.
The Company also informs that 13,152,063 (thirteen million, one
hundred fifty two thousand, sixty three) issued common shares are
outstanding in the market and that it has not entered into any
agreement with the Market Maker regulating the exercise of voting
rights or the purchase and sale of its securities.
The appointment of a Market Maker reinforces PetroRio's
commitment to its investor base. For additional information, please
contact PetroRio's Investor Relations Department.
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