RIO DE JANEIRO, Sept. 4, 2013 /CNW/ - HRT Participações em Petróleo S.A.
(the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP), after announcing
its initiatives designed to divest the non-core assets and its focus on the
recovery of financial resources, as disclosed on July 22(nd), 2013, informs
the status of the following initiatives:
-- Conclusion of the sale, on September 3(rd), 2013, of its air
logistics business, Air Amazonia, and part of its helicopters
fleet, to Erickson Air-Crane Inc (the "Buyer" or "Erickson")
In this transaction, the Company has transferred to Erickson
its wholly-owned subsidiary, Air Amazonia, including a team of
fifty-nine (59) professionals, apart from six (6) helicopters
(2 small, 2 mid and 2 heavy sizes), having received, as of
yesterday, the amount of US$ 23 million, and an additional US$
3 million will be received within twelve (12) months. The
transaction price was US$ 26 million, and may reach up to US$
40 million, contingent upon meeting certain contractual terms.
Through the same transaction, the signing of one-year aerial
services agreement to support HRT's operations in the Solimões
Basin was concluded, with an annual renewal option for
additional four years. Furthermore, the Company has granted
Erickson the right of first refusal to purchase the remaining
fleet of eight (8) helicopters and on aerial supporting
services in HRT´s future operations in other regions.
-- Disposal of eight (8) helicopters not included in the
transaction with Erickson
HRT has received a firm offer to sell one of its Bell 212
helicopters, as well as concluded the claim regulation process
to recover the value of another helicopter, of the same type,
which crashed this year. The Company relies on the support of
specialized international brokers to sell this group of
aircraft, which has a total indicative value of US$ 30 million.
-- Disposal of three (3) EMB 120 aircraft ("Embraer Brasília") and
one (1) Cesna Caravan aircraft
HRT concluded the sale of the first airplane, having received
US$ 1.8 million, and has received firm offer to sell the second
one. The company relies on the support of specialized
international brokers to sell these airplanes.
-- The sale offer of four heli-transportable drilling rigs with
the capacity to drill up to 4,000 meters depth and four cranes,
which support in the operation and in the assembly of the rigs
The Company follows through on negotiations with potential
buyers. As previously disclosed, the market value for the
drilling rigs may reach US$ 50 million.
-- The sale process of the geochemistry service provider, IPEXco
After opening a virtual data room in July 2013, HRT pursues in
talks with ten (10) companies that showed interest in
evaluating the asset, being some of them in an advanced
evaluation stage. The Company intends to receive proposals from
the beginning of the 4th quarter and conclude the sale process
until the end of the fiscal year 2013.
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.
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. and HRT Canada
Inc.. The Company retains a 55% interest in 19 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
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.
IR CONTACT: Ricardo Bottas Dourado- CFO and Investor Relations Officer
Sandra Calcado - Investor Relations Manager Tainah Costa - Investor Relations
+55 21 2105-9700 email@example.com
To view this news release in HTML formatting, please use the following URL:
CO: HRT Participações em Petróleo S.A.
-0- Sep/04/2013 13:53 GMT
Press spacebar to pause and continue. Press esc to stop.