OREANDA-NEWS. PetroRio, new brand of HRT Participacoes em Petroleo S.A., hereby provides clarifications, as requested by BM&FBOVESPA on the referred Official Letter, regarding the amount paid to Shell Brasil Petroleo Ltda. ("Shell") for the acquisition of 80% of the rights and obligations of the concession contracts for the Bijupira and Salema Fields and its estimated revenues compared with the brent price, as per the news published by Valor Economico newspaper, on 01/21/2015, under the title "HRT is now PetroRio and expands its assets", which transcription follows as required by the referred Official Letter:

"(...)Dear Sir,

In news published by the Valor Economico newspaper as of 01/21/2015, under the title "HRT is now PetroRio and expands its assets", states, among other information, that:

  • The Company will pay USD 150 million for 80% Participating Interest of Shell in Bijupira and Salema;
  • According to PetroRio, Bijupir? and Salema should add R\$ 800 million to the Company’s revenues, being this an estimate which considers the price of the barrel next to current levels and can reach \$1 billion if oil prices recovers. We hereby request you some clarifications, until 01/22/2015, on the content of the referred news, as well as other information deemed important. (...)"

PetroRio informs that, based on the agreement signed with Shell, it’s not allowed to disclose any information and strategic data, such as the purchase price, and certainly is unaware of the source of the information published in the Valor Economico newspaper regarding the transaction amount.

In terms of the upcoming revenues from the acquisition of Bijupira and Salema Fields, as reported in the newspaper, these are estimated values, which were informed by the Commercial and Business Development Officer in a teleconference that took place with journalists after the disclosure of the Material Fact and were based on the average daily barrels of oil currently extracted in these fields multiplied by the estimated value per barrel in the current market and in a more favorable scenario of the oil and gas industry.