QGEP Reports 2Q13 Results

                          QGEP Reports 2Q13 Results

  PR Newswire

  RIO DE JANEIRO, Aug. 7, 2013

RIO DE JANEIRO, Aug. 7, 2013 /PRNewswire/ -- QGEP Participacoes S.A.
[BM&FBOVESPA: QGEP3] releases todayitssecond quarter results. For further
information, click here .

Highlights:

  *QGEP was awarded a total of 8 deep water blocks in the 11 ^th ANP bidding
    round, with operatorship of 5 blocks;
  *Average daily gas production from the Manati Field was 5.0MMm3 in 2Q13,
    despite scheduled maintenance in April;
  *Net Revenue was R$100.2 million, compared with R$123.2 million in 2Q12;
  *EBITDAX in 2Q13 was R$41.7 million, compared with R$79.3 million in 2Q12;
    2Q13 EBITDAX margin was 41.6%;
  *Net income was R$30.1 million in 2Q13, compared with net loss of R$96.1
    million in 2Q12, when the Company recognized higher exploratory costs.;
  *Cash flow from operating activities was R$62.1 million in 2Q13, down 4.4%
    from 2Q12; 6M13 operating cash flow was R$160.8 million;
  *Cash balance of R$1.1 billion at the end of 2Q13.

To access the Manati Annual Statement of Reserves, click here .

Conference Call- English | August 08th, 2013 (simultaneous translation) 11:00
a.m.- New York |12:00 p.m.- BrasiliaDial-in: +1-786-924-6977Code: Queiroz
GalvaoWebcast: click here

Participants are requested to connect fifteen minutes prior to the time set
for the conference call.

For more information, please contact our Investor Relations team:Phone:
+55-21-3509-5959E-mail: ri@qgep.com.br www.qgep.com.br/ri

Website: http://www.qgep.com.br/ri
 
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