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Press release from CNW Group

Material Fact - HRT Appoints New CEO

Monday, May 13, 2013

Material Fact - HRT Appoints New CEO

11:07 EDT Monday, May 13, 2013

RIO DE JANEIRO, May 13, 2013 /CNW/ - HRT Participações em Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP) is pleased to announce the appointment of Milton Romeu Franke as Chief Executive Officer ("CEO") of the Company effective immediately and in accordance with such unanimous decision of the Board of Directors of the Company.

Milton Romeu Franke joined HRT in 2009 and has served on the Company's Board of Officers with lead responsibility for Engineering, Drilling and Production. During his extensive and prominent career in the energy industry, Mr. Franke worked at Petrobras for 26 years, during which he held senior responsibility for corporate planning, engineering, and research functions, among others. Mr. Franke also provided energy consulting services for ten years together with Booz, Allen & Hamilton, a leading global management consulting firm, and also worked at Brazil's licensing agency, ANP.

John Willott, Chairman of HRT's Board of Directors and formerly VP for Exploration at ExxonMobil, commented, "Milton's vast experience in the industry, his familiarity with HRT, and the respect he commands as a thoughtful and diligent professional will enable him to provide stability and leadership at this important stage of the Company's development. On behalf of the Board of Directors, I congratulate Milton on his appointment to CEO and look forward to working closely with him to deliver HRT's full potential."

Milton Franke added, "HRT's portfolio and people provide a strong foundation for the Company to develop into a leading international E&P player, and 2013 will be a defining year for all of us. I am honored to have been asked by the Board to lead the management team at such an important juncture, and we will continue to focus on improving execution of the great opportunity set we have."

HRT also announced today that Wagner Peres, President of HRT America, had informed the Board of his decision to leave from his management role effective on May 10th, 2013.  Mr. Peres will continue to provide oversight and contribute to the Company's future development as a member of the Board of Directors. The Company expects to identify and announce a replacement to assume Mr. Peres' responsibilities in HRT America soon.

For further information, please contact HRT`s Investor Relations Department.

Sedar Profile # 00031536

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About HRT
HRT Participações holds one of the largest independent oil and gas exploration and production companies in Brazil. The HRT Group comprises eight main subsidiaries: IPEX (Integrated Petroleum Expertise Company Serviços em Petróleo Ltda.), HRT O&G Exploração e Produção de Petróleo Ltda., HRT Netherlands B.V., HRT África Petróleo S.A., HRT América Inc., Air Amazonia Serviços Aéreos Ltda. and HRT Canada Inc. The Company retains a 55% interest in 21 exploratory blocks in the Solimões Basin. HRT also operates ten exploratory blocks off the Namibian coast: eight blocks in the Orange Sub-basin and two blocks in the Walvis Sub-basin. HRT's team includes PHDs and masters in geochemistry, geophysics, biology and engineering, most of them former employees of Petrobras and ANP (Brazil petroleum agency). HRT is committed to minimizing any possible environmental impacts in the sites where it acts. Our commitment to 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/ir

Disclaimer
This news release contains forward-looking statements. All statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, statements regarding our drilling and seismic plans, operating costs, acquisitions of equipment, expectations of finding oil, the quality of oil we expect to produce and our other plans and objectives. Readers can identify many of these statements by looking for words such as "expects", "believe", "hope" and "will" and similar words or the negative thereof. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. By their nature, forward-looking statements require us to make assumptions and, accordingly, forward-looking statements are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements because a number of factors may cause actual future circumstances, results, conditions, actions or events to differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements and the assumptions underlying the forward-looking statements.

The following risk factors could affect our operations: the contingent resource and prospective resource evaluation reports involving a significant degree of uncertainty and being based on projections that may not prove to be accurate; inherent risks to the exploration and production of oil and natural gas; limited operating history as an oil and natural gas exploration and production company; drilling and other operational hazards; breakdown or failure of equipment or processes; contractor or operator errors; non-performance by third party contractors; labour disputes, disruptions or declines in productivity; increases in materials or labour costs; inability to attract sufficient labour; requirements for significant capital investment and maintenance expenses which HRT may not be able to finance; cost overruns and delays; exposure to fluctuations in currency and commodity prices; political and economic conditions in Namibia and Brazil; complex laws that can affect the cost, manner or feasibility of doing business; environmental, safety and health regulation which may become stricter in the future and lead to an increase in liabilities and capital expenditures, including indemnity and penalties for environmental damage; early termination, non-renewal and other similar provisions in concession contracts; and competition. We caution that this list of factors is not exhaustive and that, when relying on forward-looking statements to make decisions, investors and others should also carefully consider other uncertainties and potential events. The forward-looking statements herein are made based on the assumption that our plans and operations will not be affected by such risks, but that, if our plans and operations are affected by such risks, the forward-looking statements may become inaccurate.

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date of this news release. Except as required by applicable securities laws, we do not undertake to update such forward-looking statements.


SOURCE: HRT Participações em Petróleo S.A.

For further information:

IR CONTACT:

Carlos Tersandro Fonseca Adeodato - CFO and Investor Relations Officer
Sandra Calcado - Investor Relations Manager
Priscila Sarandy - Investor Relations Specialist
Tainah Costa - Investor Relations Senior Analyst

+55 21 2105-9700
ri@hrt.com.br

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