HRT informs the discovery of hydrocarbons in the well 1-HRT-3-AM, Block SOL-T-168, in the Solimões Sedimentary Basin

RIO DE JANEIRO, Brazil, Sept. 21, 2011 /CNW/ - HRT Participações em Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP), informs that its subsidiary, HRT O&G Exploração e Produção de Petróleo Ltda. ("HRT O&G"), forwarded today to the National Petroleum, Natural Gas and Biofuels Agency (Agência Nacional do Petróleo, Gás Natural e Biocombustíveis - ANP), a Notice of Discovery to the effect that gaseous and liquid hydrocarbons have been observed in well 1-HRT-3-AM, located in the Block SOL-T-168, in the Solimões Sedimentary Basin.  The well is positioned at 7.5 km northwest of the Municipal District of Carauari, in the State of Amazonas, and was drilled by rig QG-IX (Queiroz Galvão).

The drilling achieved a final depth of 2,680 meters, reaching the crystalline basement. The well is presently under evaluation, after having completed the electric logs, initiated the wireline formation tests and the nuclear magnetic resonance, as well as the sidewall cores. Based on the results of such evaluation, the well will be cased to carry out the formation test to characterize the types of fluid and the production potential of the reservoir.

It is worth mentioning that, although the presence of oil in cuttings was not observed during drilling operations, the application of the technique GC-MS - Gas Chromatography-Mass Spectrometry identified the presence of liquid hydrocarbons both in the Juruá Formation (Carboniferous age) and Uerê formation (Devonian age). This result, in connection with humid gas anomalies, confirms HRT O&G's geological model, which forecasts the existence of oil and humid gas in the western portion of the permit area in the Solimões Sedimentary Basin.

This was the third drilling announced by HRT, which began on June 29, 2011.

HRT holds a 55% interest in 21 exploration blocks in the Solimões Sedimentary Basin, covering an area of around 48.5 km2, where 52 prospects were mapped and estimated, and 11 discoveries were qualified as contingent resources.

For further information, contact HRT's Investor Relations Department.

Estimates of the prospective resources have been prepared by D&M, an independent international petroleum consulting firm registered in the State of Texas.  The report has been prepared in accordance with Sections 5.9 of NI 51-101, and is based upon D&M's review of technical data including geology, geophysics and reservoir parameters.

HRT recommends that readers refer to the prospective resources report in its entirety as it details the process for determining the prospective resources estimates, the assumptions underpinning the modeling, and defines all of the technical terms used. The prospective resources estimates described in the report and in this release are "undiscovered resources" as defined in the Canadian Oil and Gas Evaluation ("COGE") Handbook.  Undiscovered resources are defined as those quantities of oil and gas estimates on a given date to be contained in accumulations yet to be discovered. The estimate of the potentially recoverable portions of undiscovered resources are classified as prospective resources. Prospective resources are defined as those quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations.

In accordance with Section 5.9 of NI 51-101, the Company declares that there is no certainty that any portion of these resources will be discovered.  If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

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 HRT
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., BN47 Serviços Aéreos Ltda., Ranger Participações Ltda. and UNX Energy Corp. The Company retains a 55% interest in 21 exploratory blocks in the Solimões Basin. HRT also operates ten exploratory blocks at the Namibian coast, where it retains interest in two of them, in the Walvis Sub-basin, and in other eight, in the Orange 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, security and quality of life. For more information, please visit the Company's website:

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.

For further information:

Marcio Rocha Mello - CEO and Investor Relations Officer
+55 21 2105-9700

Eliana Rodriques - IR Manager 
+55 21 2105-9745  

Profil de l'entreprise

HRT Participações em Petróleo S.A.

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