RIO DE JANEIRO, Nov. 4, 2011 /CNW/ - HRT Participações em Petróleo S.A. ("Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP), continuing the
process of disclosing the progress of the well drilling in the areas
under concession, announces the status of operations with position on
today's date at 3:00pm.
Well in final evaluation of the last interval, in Uerê Formation.
Current depth: 3,470m.
The well is in the process of final logging.
Current depth: 2,468m.
Drilling the 4th phase*. Final depth forecasted to 2,700m.
Rig QG IX
In process of mobilization from the location 1-HRT-168/01 to
To find out more on each well, click on the links below:
* 4th Phase: Drilling, logging, running the 7" liner, cementing and doing the
For further information, 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., 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
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, security 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.
For further information:
Marcio Rocha Mello - CEO and Investor Relations Officer
+55 21 2105-9700
Eliana Rodriques - IR Manager
+55 21 2105-9745