PetroRio announces 2015 annual results

RIO DE JANEIRO, March 23, 2016 /CNW/ - Petro Rio S.A. ("PetroRio" or the "Company") (BM&FBOVESPA: PRIO3, TSX-V: PRJ) informs that has filed today an extended press release, Financial Statements and related Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2015, which are available on SEDAR at www.sedar.com or on the Company's website at  www.petroriosa.com.br. The Company will host a conference call tomorrow, March 24, at 10:00 a.m. US EST time. Instructions are available on the Company's website at www.petroriosa.com.br.

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 PetroRio
PetroRio is one of the largest independent companies in the oil and gas production in Brazil. It is the operator of the Polvo Field, located in the Campos Basin, which has Brazil's seventh largest daily production of barrels of oil equivalent (boe). PetroRio is the owner of "Polvo A" fixed platform and a 3.000HP drilling rig, currently in operation in this Field, being the platform connected to the "Polvo FPSO" vessel, with capacity to segregate hydrocarbons and water treatment, oil storage and offloading. Polvo Field license covers an area of approximately 134km2, with several prospects with potential for further explorations.

The Company´s corporate culture seeks to increase production through the acquisition of new production assets, the re-exploration of assets, increased operational efficiency and reduction of production costs and corporate expenses. PetroRio's main objective is to create value for its shareholders with growing financial discipline and preserving its liquidity, with full respect for safety and the environment. For further information, please visit the Company's website: www.petroriosa.com.br.

SOURCE PetroRio

For further information: Investor Relations, www.petroriosa.com.br, ri@petroriosa.com.br, +55 21 3721-3810


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