1Q13 Results - MZ Brazil

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<strong>1Q13</strong>Figure 4 - Polvo A Rig and Polvo FPSOHRT AFRICAIn January 2013, the Namibia’s Ministry of Mines and Energy (“MME”) approved the transfer to Galp Energiaof a 14% participating interest in the exploratory rights of Petroleum Exploration License 23 (PEL 23),located in the Walvis Basin, and PELs 24 and 28, located in the Orange Basin, offshore the Republic ofNamibia. HRT has retained operatorship of these PELs.In March, HRT Africa spudded the Wingat-1 (2212/07-1) wildcat well, the first offshore well in our 3-wellback-to-back exploratory drilling campaign. The Wingat Prospect is located in PEL 23, approximately 200km northwest of Walvis Bay, in 1,034 meters of water depth.The main objective of the well was to test the resource potential of the Albian (Cretaceous) carbonateplatform that has a well-defined seismic amplitude anomaly in the PSDM-3D data set.HRT forecasts that the current activities in the Wingat-1 well will be concluded next week.| Page 8 |
<strong>1Q13</strong>Figure 5 - Wingat-1 well location in Walvis BasinAIR AMAZONIAAt the beginning of March, HRT signed a binding Term Sheet with the American company Erickson Air-Crane Inc. for the transfer of its air logistics business, Air Amazonia.The agreed-upon total amount for the transaction was set between US$65 million and US$75 million, andincludes the sale of the Company’s rotary-wing fleet (14 helicopters), with the understanding that theBuyer will provide aerial services to HRT’s operations in the Solimões Basin for a three-year period. Thedeal is contingent upon meeting certain contractual terms.The transaction will bring cost savings to our operations in the Solimões Basin.| Page 9 |
Page 1 and 2: 1Q13Polvo A rigin the Polvo FieldMa
Page 3 and 4: 1Q13MANAGEMENT REPORTIn the First Q
Page 5 and 6: 1Q13HRT GROUP COMPANIES - 1Q13 HIGH
Page 7: 1Q13POLVOAt the beginning of May, a
Page 12 and 13: 1Q13CONSOLIDATED CASHFLOW(in millio
Page 14 and 15: 1Q13ABOUT HRTHRT Participações ho
Page 16 and 17: 1Q13BALANCE SHEET(Thousands of R$)L
Page 18 and 19: 1Q13CASHFLOW STATEMENT(Thousands of

1Q13 Results - MZ Brazil

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