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.


  oQGEP was awarded a total of 8 deep water blocks in the 11^thANP bidding
    round, with operatorship of 5 blocks;
  oAverage daily gas production from the Manati Field was 5.0MMm3 in 2Q13,
    despite scheduled maintenance in April;
  oNet Revenue was R$100.2 million, compared with R$123.2 million in 2Q12;
  oEBITDAX in 2Q13 was R$41.7 million, compared with R$79.3 million in 2Q12;
    2Q13 EBITDAX margin was 41.6%;
  oNet 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.;
  oCash 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;
  oCash 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.- Brasilia
Dial-in: +1 (786) 924-6977
Code: Queiroz Galvao
Webcast: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 3509-5959
E-mail: ri@qgep.com.br

SOURCE QGEP Participacoes S.A.

Website: http://www.qgep.com.br/ri
Press spacebar to pause and continue. Press esc to stop.