HRT Denied Request for Extension of Exploration Period for Blocks

Source: www.gulfoilandgas.com 1/28/2014, Location: South America

HRT Participacoes em Petroleo S.A., announces that its wholly-owned subsidiary, HRT O&G Exploracao e Producao de Petroleo Ltda., received from the National Petroleum, Natural Gas and Biofuels Agency - ANP, an official letter stating that the Agency has denied the request for the extension or suspension of the second period of the exploration phase for Blocks SOL-T-148, SOL-T-149 and SOL-T-195, located in the Solimoes Basin, in Amazon, remaining the expiration of the term for May 5th, 2014.

The Company states that it is analyzing the possible alternatives to change such decision, including an appeal to be presented to ANP.

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