Notice to the Market - HRT announces the conclusion of the Formation Test of Well 1-HRT-1-AM, in the Solimões Basin

RIO DE JANEIRO, BRAZIL, Nov. 11, 2011 /CNW/ - HRT Participações em Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP), announces the conclusion of the Formation Test of exploratory well 1-HRT-1-AM, located in Block SOL-T-170, in the Solimões Sedimentary Basin.

Well 1-HRT-1-AM, whose drilling was concluded on September 20, 2011, revealed the existence of two gas-bearing reservoirs in the Juruá Formation of Carboniferous age and three oil-bearing reservoirs of the Uerê Formation, Devonian in age.

HRT tested, through casing, three intervals in Devonian reservoirs. Two of the intervals with gas and oil shows, were tested resulting in low permeability. These reservoirs with total net pay of 24 meters may be stimulated by fracturing to improve their production capacity as part of a discovery assessment plan to be submitted to the National Agency of Petroleum, Natural Gas and Biofuels (Agência Nacional do Petróleo, Gás Natural  e Biocombustíveis - ANP). The tested reservoir corresponding to the oil-bearing interval in the well 1-NSM-1-AM, was found in a structural position, 11 meters lower and below the oil-water contact.

The two gas-bearing intervals identified in the Juruá Formation reservoirs, with total net pay of 33 meters, were not tested and will be part of the discovery assessment plan.

Well 1-HRT-1-AM fulfilled the Minimum Exploratory commitment with ANP, confirmed the continuity of the Juruá Formation gas reservoirs, and allowed the identification of thick Devonian age reservoirs with the presence of oil and gas.

Drilling rig "Tuscany 115" will now be mobilized to Location 1-HRT-170/06-AM, in the same block, with the objective to test oil and gas potential of the reservoirs in the Juruá and Uerê formations.

The Company's subsidiary, HRT O&G Exploração e Produção de Petróleo Ltda., 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.

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 America Inc., Air Amazonia Serviços Aéreos Ltda., HRT Canada Inc. 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 forwardlooking 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.

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.

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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