1Q13 Results - MZ Brazil

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1Q13ABOUT HRTHRT Participações holds one of the largest independent oil and gas exploration and production companiesin Brazil. The HRT Group comprises eight main subsidiaries: HRT O&G Exploração e Produção de PetróleoLtda., Integrated Petroleum Expertise Company – Serviços em Petróleo Ltda., HRT Africa PetróleoS.A., HRT Netherlands B.V., Air Amazonia Serviços Aéreos Ltda., HRT America Inc., HRT Canada Inc..The Company retains a 55% interest in 21 exploratory blocks in the Solimões Basin. HRT also operatesten exploratory blocks off the Namibian coast: eight blocks in the Orange Sub-basin and two blocks inthe Walvis Sub-basin. HRT’s team includes PhDs and masters in geochemistry, geophysics, biology andengineering, most of them former employees of Petrobras and ANP (Brazil petroleum agency). HRT iscommitted to minimizing any possible environmental impacts in the sites where it acts. Our commitmentto the local communities is towards health conditions, safety and quality of life. For more information,please visit the Company’s website: www.hrt.com.br/irDISCLAIMERCertain information contained in this document, including any information as to our strategy, projects, plans or future fi nancial or operating performance and otherstatements that express management’s expectations or estimates of future performance constitute “forward-looking statements”. All statements, other thanstatements of historical fact, are forward-looking statements. The words “believe”, “expect”, “will”, “anticipate”, “contemplate”, “target”, “plan”, “continue”,“budget”, “may”, “intend”, “estimate” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon anumber of estimates and assumptions that, while considered reasonable by management, are inherently subject to signifi cant business, economic and competitiveuncertainties and contingencies. HRT cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factorsthat may cause the actual fi nancial results, performance or achievements of HRT to be materially different from HRT’s estimated future results, performance orachievements expressed or implied by those forwardlooking statements and the forward-looking statements are not guarantees of future performance.HRT disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise,except as required by applicable law.| Page 14 |
1Q13BALANCE SHEET(Thousands of R$)ASSETSCurrent assets Dec 2012 Mar 2013Cash and cash equivalents 37,608 49,409Marketable securities 870,650 637,911Accounts receivable 3,377 2,057Asset held for sale - 109,268Taxes recover 57,706 58,786Advances to suppliers 10,190 19,768Advances from partners - 57,890Prepaid expenses 2,011 4,285Financial instruments - 159Other receivables 1,388 5,193Total Current assets 982,930 944,726NON-CURRENT ASSETSNon-current assets Dec 2012 Mar 2013Advances to suppliers 12,706 10,540Guarantee deposits 143,559 141,443Total Non-current assets 156,265 151,983Permanent assets Dec 2012 Mar 2013Property, plant and equipment 393,862 283,513Intangible 2,723,411 2,837,212Total Permanent assets 3,117,273 3,120,725Total Non-current assets 3,273,538 3,272,708Total Assets 4,256,468 4,217,434| Page 15 |
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1Q13 Results - MZ Brazil

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