RIO DE JANEIRO, Jan. 9, 2013 /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"), has concluded the drill stem test of a cased hole in the
Tucumã prospect (1-HRT-192/02-AM), block SOL-T-192, in the Solimões
Basin, of the Amazonas State, on January 7th, 2013 at 1.30 am.
The prospect, located approximately 30 km to the south of the Juruá
Field, was tested to identify hydrocarbons in a faulted anticlinal
structure in a regional SW-NE oriented structural lineament sub
parallel to the Juruá and Tefé gas trend.
Two intervals were selected for the drill stem test, achieving the
DST - 01: Interval 2,254.0 to 2,260.3 meters - Juruá Formation Lower
Member - Reach a stable production rate of 520,456 cubic meters
(18,379,737 cubic feet) of natural gas per day, with a choke of 40/64"
(The estimated AOF for this test is 1,600,000 cubic meters per day /
56,503,488 cubic feet per day).
DST - 02: Interval 2,208.0 to 2,217.0 meters - Juruá Formation Lower
Member - Reach a production rate of 143,092 cubic meters (5,053,248
cubic feet) of natural gas per day, with a choke of 40/64".
"This positive test confirms the existence of a new structural trend in
our blocks to the south and southwest of this well" said Milton Franke, CEO of HRT O&G.
The drill stem test results, together with the gas findings in wells
1-HRT-5-AM and 1-HRT-9-AM, confirm the gas trend to the south and the
potentials for gas in the SOL-T-191 and SOL-T-192 Blocks and open a new
exploratory play fairway for SOL-T-214, SOL-T-215 and SOL-T-216 Blocks,
where the company has identified several exploratory prospects for
future new wells to be drilled.
The presence of a richer liquid bearing gas/condensate identified in the
DST's in a relatively underexplored area of the Basin, reinforces the
geological model interpreted for the area, and consolidates the
potential for gas in the region and supports the gas monetization
HRT is the operator of 21 blocks in the Solimões Basin, which it is
exploring in co-operation with TNK-Brasil.
For further information, please contact HRT`s Investor Relations
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., 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
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.
Image with caption: "HRT Photo (CNW Group/HRT Participações em Petróleo S.A.)". Image available at: http://photos.newswire.ca/images/download/20130109_C4776_PHOTO_EN_22375.jpg
SOURCE: HRT Participações em Petróleo S.A.
For further information:
Carlos Tersandro Fonseca Adeodato - CFO and Investor Relations Officer
Sandra Calcado - Investor Relations Manager
+55 21 2105-9700