BRAVA ENERGIA S.A. (“BRAVA” or “Company”) (B3:BRAV3), pursuant to CVM Resolution No. 44, following the Notice to the Market disclosed on December 17, 2024, hereby informs its investors and the market in general that it signed, on February 7, 2025, with the consortium formed by Azevedo e Travassos Petróleo S. A. (“A&T”) and Petro-Victory Energy Corp. (“PVE”), a contract for the sale of 11 onshore oil and gas concessions located in the Potiguar Basin, in the state of Rio Grande do Norte. The concessions that form the perimeter of the transaction recorded an average daily production of approximately 250 barrels of oil equivalent in 2024.
The total value of the transaction is US$15.0 million, comprising: (i) US$600 thousand paid upon signing of the contract; (ii) US$2.9 million to be paid upon closing; (iii) US$8.0 million to be paid in two installments deferred in 12 and 24 months after closing of the transaction; and (iv) US$3.5 million to be paid over eight years, as a percentage of the fields' production, with a firm payment commitment. The contract provides: (i) that all oil produced during the transition period will be sold to the Brava Energia refinery and its cash generation will be deducted from the transaction value; and (ii) that the purchasing consortium will assume responsibility for abandoning the asset, estimated at approximately US$21 million by the Company. Completion of the transaction is subject to precedent conditions, particularly the approval of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), among others.
This transaction is in line with the company's portfolio optimization strategy and improved capital allocation, focusing efforts on higher priority assets in terms of risk-adjusted return, growth and optionality.
Finally, Brava reinforces its commitment to keep its investors and the market in general properly informed, in line with best corporate governance practices and in strict compliance with current legislation.
