1Q14 HIGHLIGHTS Production in the Tubaro Martelo field, which began in December 2013, totaled 967,000 barrels of oil in the first quarter of 2014 and reached an average rate of 11,000 barrels of oil per day in the same period. The…
FINANCIAL HIGHLIGHTS 1Q14 RESULTS Key Metrics 1Q14 4Q13 1Q13 Revenues (R million) 221 174 289 EBITDA (R million) 35 18 74 Net Profit/Loss (R million) 213 (9,786) (805) CAPEX (US million) 339 375 289 The sale of 1,023…
1Q14 PRODUCTION
1Q14 PRODUCTION TUBARO AZUL Resumed production in February 2014. EBITDA PRO-FORMA (1Q14 x 1Q13) FPSO OSX 1 2014 2013 Production totaled 246,000 barrels of oil in 1Q14, with an average daily production of 4,200 Days of operation 42…
1Q14 PRODUCTION TUBARO MARTELO EBITDA PRO-FORMA First oil produced in December 2013, through FPSO OSX 3 2014 2 wells. Days of operation 78.32 Offloadings - in barrels (bbls) 862,382 Total production in the 1Q14 of 967 thousand…
1Q14 PRODUCTION ATLANTA AND OLIVA (BS-4) Atlanta: the first horizontal well of the Atlanta A bidding process is under way for the hiring of an field (7-ATL-2HP-RJS) has already been drilled FPSO system, considering two scenarios and…
1Q14 EXPLORATION
1Q14 EXPLORATION CEAR AND POTIGUAR BASINS 11th BIDDING ROUND Exploratory campaign is underway in 4 blocks, in a non-operator basis; Operators are conducting bidding processes for the acquisition of 3D seismic data; Drilling campaign…
FINANCIAL HIGHLIGHTS PROJECTIONS FOR 2014 R million Net Fields EBITDA CAPEX Revenue Tubaro Martelo 1,036 352 260 Atlanta and Oliva 0 0 284 13
COURT-SUPERVISED REORGANIZATION
COURT-SUPERVISED REORGANIZATION IN PROGRESS On February 14, 2014, the Companies presented, on an individual basis, the court-supervised reorganization plan (Plan) describing the means to be employed. The Plan was resubmitted on June…
COURT-SUPERVISED REORGANIZATION IN PROGRESS b) Restructuring of existing debts: DIP Financing: after certain conditions precedent are fulfilled, the DIP Financing will be convertible into OGX shares, which will represent, provided…
APPENDIX
APPENDIX I INCOME STATEMENT R ('000) PROFIT& LOSS YTD Mar/14 YTD Mar/13 1Q14 1Q13 Net revenue 220,797 289,391 (68,594) 220,797 289,391 (68,594) Cost of products sold (CPS) * (i) (142,793) (144,259) 1,466 (142,793) (144,259) 1,466…
APPENDIX II BALANCE SHEET R ('000) Balance Sheet Mar 31, 2014 Dec 31, 2013 Mar 31, 2014 Dec 31, 2013 ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Current assets Current Liabilities Cash and cash equivalents 47,091 26,366 Trade…
APPENDIX III FIXED ASSETS / LOANS & FINANCING Fixed Assets R ('000) LOANS AND FINANCINGS R ('000) Balance as of December 31, 2012 3,351,878 Balance as of December 31, 2013 (9,525,616) (-) New fundings (410,808) (+) CAPEX (+)…
DISCLAIMER This document contains Company-related statements and information that reflect the current vision and/or expectations the Company and its management have regarding its business plan. These include, among others, all…
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