OGX Acquires a Working Interest in 13 Exploration Blocks in the Equatorial Margin and the Parnaíba Basin During ANP’s 11th Exploration License Auction Round

RIO DE JANEIRO--(BUSINESS WIRE)--OGX Petróleo e Gás Participações S.A. (“OGX”) (Bovespa: OGXP3; OTC: OGXPY.PK), the Brazilian oil and gas company responsible for the largest private-sector exploratory campaign in Brazil, announces that it has acquired a working interest in 7 deep-water and 2 shallow-water blocks situated in the Equatorial Margin and 4 onshore blocks situated in the Parnaíba Basin during the 11^th Exploration License auction round organized by Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP).

Luiz Carneiro, CEO of OGX, commented:

“OGX is very pleased with the outcome of the 11^th Bid Round organized by ANP. The offshore blocks are located within the Equatorial Margin, in the North of Brazil, an underexplored and highly promising area as demonstrated by recent discoveries in the surrounding areas. The onshore blocks are located in the Parnaíba Basin, where we have recently achieved significant results in both the exploration and production fronts.

The partnership with ExxonMobil and Total, two major international oil and gas players with significant expertise and resources, with a strong track record of success in the West Africa and the Atlantic Margin, underscore the high potential of the blocks, as well as our ability to identify and develop future growth opportunities. We are also very satisfied to have once more an opportunity to work with Queiroz Galvão Exploração e Produção, an important and reputable player in the Brazilian Oil and Gas market.

This is clearly an exciting time for Brazil’s oil and gas industry and for OGX, and we are thrilled to be a part of it.”

Offshore Blocks

Basin	Block(s)	Signature Bonus	Local Content		OGX Share	Area km²	Operator
			Exp	Dev
Foz do Amazonas	FZA-M-184	R$ 30,000,063	40%	63%	100%	767	OGX
Barreirinhas	BAR-M-213	R$ 40,000,163	40%	63%	100%	769	OGX
	BAR-M-389	R$ 80,000,163	40%	63%	100%	192	OGX
	BAR-M-251	R$ 40,000,163	40%	63%	100%	192	OGX
Potiguar	POT-M-475	R$ 20,000,063	37%	56%	100%	768	OGX
	POT-M-762	R$ 81,876,563	37%	55%	50%	767	ExxonMobil
Ceará	CE-M-663	R$ 70,000,163	37%	56%	100%	512	OGX
	CE-M-661^1	R$ 40,462,000	37%	65%	30%	769	TOTAL E&P
	CE-M-603	R$ 45,865,663	37%	55%	50%	769	ExxonMobil
Total	9	R$ 448,205,004				5,506
Total NET OGX		R$ 356,010,491

¹ TOTAL E&P has 45% W.I., OGX 30% and Queiroz Galvão Exploração e Produção (QGEP) 25%

Onshore Blocks

Basin	Block(s)	Signature Bonus	Local Content		OGX Share	Area km²	Operator
			Exp	Dev
Parnaíba	PN-T-168	R$ 4,000,063	75%	80%	100%	3,050	OGX
	PN-T-153	R$ 3,000,063	75%	80%	100%	3,057	OGX
	PN-T-113	R$ 7,000,063	80%	85%	100%	2,741	OGX
	PN-T-114	R$ 6,000,063	80%	85%	100%	2,996	OGX
Total	4	R$ 20,000,252				1,843
Total NET OGX		R$ 20,000,252

The signature of the concession contracts are still subject to the finalization of the bid process by ANP.

Maps showing the awarded blocks are available on the OGX IR website: www.ogx.com.br/ri

ABOUT OGX

OGX Petróleo e Gás SA is focused on oil and natural gas exploration and production and is conducting the largest private-sector exploratory campaign in Brazil. OGX has a diversified, high-potential portfolio, comprised of 26 exploratory blocks in the Campos, Santos, Espírito Santo, Pará-Maranhão and Parnaíba Basins in Brazil, and 5 exploratory blocks in Colombia, in the Lower Magdalena Valley and the Cesar-Ranchería basins. The total extension area is of approximately 4,600 km² in sea and approximately 36,700 km² on land, with 24,500 km² in Brazil and 12,200 km² in Colombia. OGX relies upon an experienced management team and holds a solid cash position, with approximately US$1.15 billion in cash (as of March 2013) to fund its E&P investments and new opportunities. In June of 2008, the company went public raising R$6.7 billion, which at the time was the largest amount ever raised in a Brazilian IPO. OGX is a member of the EBX Group, an industrial group founded and under the leadership of Brazilian entrepreneur Eike F. Batista, who has a proven track record in developing new ventures in the natural resources and infrastructure sectors. For more information, please visit: www.ogx.com.br/ri

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