RIO DE JANEIRO, Feb. 24, 2014 /CNW/ - HRT Participações em
Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3,
TSX-V: HRP), in compliance with the provision of CVM Instruction
358/02, announces that its wholly-owned subsidiary, HRT O&G
Exploração e Produção de Petróleo Ltda. ("HRT O&G"), fully
paid, on February 21st,
2014, the balance of the loan with Credit Suisse, which was
contracted in May 2013 to acquire 60%
participating interest in the Polvo Field, in the Campos Basin.
The original loan amount was USD 75 million. The first payment, in the amount
of USD 40 million, was made on
October 15th, 2013. The
remaining balance was to be paid in 5 quarterly instalments from
April 2014, however the Company
decided to make the prepayment of debt in order to release a set of
guarantees and relevant obligations under the Loan Agreement.
Thus, as of this date, HRT has no obligation
resulting from loans or financing facilities.
For additional information, please contact HRT's
Investor Relations Department.
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 HRT
HRT Participações holds one of the largest
independent oil and gas exploration and production companies in
Brazil. The HRT Group comprises
six main subsidiaries: IPEX (Integrated Petroleum Expertise Company
Serviços em Petróleo Ltda.), HRT O&G Exploração e Produção de
Petróleo Ltda., HRT Netherlands B.V., HRT África Petróleo S.A., HRT
América Inc. and HRT Canada Inc.. The Company retains a 55%
interest in 19 exploratory blocks in the Solimões Basin and 60% of
interest in The Polvo Field, located in the southern portion of the
Campos Basin. HRT also operates ten exploratory blocks off the
Namibian coast: eight blocks in the Orange Sub-basin and two blocks
in the Walvis Sub-basin. HRT's team includes PHDs and masters in
geochemistry, geophysics, biology and engineering, most of them
former employees of Petrobras and ANP (Brazil petroleum agency). HRT is committed to
minimizing any possible environmental impacts in 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;
labour disputes, disruptions or declines in productivity; increases
in materials or labour costs; inability to attract sufficient
labour; 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.