HRT, TNK-Brasil and Petrobras sign an Amendment to the Letter of Intent for the Monetization of the Natural Gas in Solimões

HRT, TNK-Brasil and Petrobras sign an Amendment to the Letter of Intent for 
the Monetization of the Natural Gas in Solimões 
RIO DE JANEIRO, Dec. 17, 2012 /CNW/ - HRT Participações em Petróleo S.A. 
(the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP) announces that its 
subsidiary HRT O&G Exploração e Produção de Petróleo Ltda. ("HRT O&G"), 
Petróleo Brasileiro S.A. ("Petrobras") and TNK-Brasil Exploração e 
Produção de Óleo e Gás Natural Ltda. ("TNK-Brasil") signed an Amendment to 
the Work Plan of the Letter of Intent ("LOI") for the gas monetization in the 
Solimões Basin. 
The LOI signed on October 15, 2012 has now been amended to introduce the work 
plan agreed to amongst the companies, which will be further matured over the 
next six months, starting January 2013. The signature occurred during the 
recent visit of President Dilma Rousseff to Moscow, where TNK-BP also has its 
headquarters. 
The activities to be developed include: (1) evaluation of the natural gas 
resources within the study area, (2) engineering, environmental and logistics 
studies required to bring the natural gas to market, (3) the technical 
alternatives to monetize the gas, the markets for such gas and the local 
logistics of those markets, (4) economic evaluation of the studied 
alternatives and (5), the administrative aspects of the work plan. 
"Our technical team is honored and encouraged to participate along with 
Petrobras in this project that is deemed so important to Brasil " said Marcio 
Rocha Mello and Michael Morgan, from HRT and TNK-Brasil. 
HRT is exploring the Solimões Basin in partnership with TNK-Brasil, a 
subsidiary of TNK-BP. 
For further information, 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 eight 
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., Air Amazonia 
Serviços Aéreos Ltda. and HRT Canada Inc.. The Company retains a 55% 
interest in 21 exploratory blocks in the Solimões 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. 
Carlos Tersandro Fonseca Adeodato - CFO and Investor Relations Officer +55 21 
2105-9700 ri@hrt.com.br 
SOURCE: HRT Participações em Petróleo S.A. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/December2012/17/c9812.html 
CO: HRT Participações em Petróleo S.A.
NI: OIL  
-0- Dec/17/2012 22:21 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.