OGPar Informs the Production Numbers in July 2014

Source: www.gulfoilandgas.com 8/15/2014, Location: South America

Oleo e Gas Participaçoes S.A. informs to the market, in compliance with CVM's Rule 358/2002, Article 3, that its production for July 2014 reached a total of 473,731 of barrels of oil, of which 356,743 of barrels reflect the Tubarao Martelo Field production and 116,987 belongs to the Tubarao Azul Field production.

The beginning of production in the fourth well of the Tubarao Martelo Field will be delayed due to the verification of low insulation in the final phase of the Electrical Submersible Pumps ("EPS") feeding.

The Company is adopting all the appropriate measures in order to identify the damage causes and briefly repair it, and as soon as it is resolved, the Company will make the necessary disclosures to the market.

It is worth to emphasize that the financial impact of the delay is already reflected on the guidance announced by the Company.

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