HRT Signs Contract for Semi-Sub Transocean Marianas

HRT Participacoes em Petroleo S.A. (HRT) is pleased to announce that it has reached an agreement to lease the semi-submersible Transocean Marianas to drill its wells in the offshore Namibia. A Letter of Award has been already signed and the final contract, which should be signed within the next 15 days, is in its final stage of preparation. HRT’s drilling campaign is set to start in late Q4/2012 - early Q1/2013 and the rig will be under contract for a 280-day term, being enough to drill at least four exploration wells.

“We are very happy with the pace of our exploration campaign in Namibia. This agreement to hire the semi-submersible Transocean Marianas to drill our wells put us one step closer to completion of our first stage of the exploration campaign that our Company is intensively pursuing in the offshore Namibia. The Transocean Marianas is the perfect rig for our Project. Her ability to operate in shallow-waters and in deep-waters allows her to drill all of our prospects, which water depths range from 160 to 1,800 meters. HRT will be testing excellent quality prospects that together hold resources in excess of 28 billion barrels of oil equivalent (P10 unrisked).” mentioned Marcio Mello, Chief Executive Officer of HRT.

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