Material Fact - Acquisition of stake in BM-S-8 in the Santos Basin

Rio de Janeiro, July 5, 2011 - QGEP Participações S.A. (BMF&Bovespa: QGEP3), Brazil’s largest private sector Exploration and Production (E&P) company on annualized daily production of barrels of oil equivalent (BOE), today announced that Queiroz Galvão Exploração e Produção S.A. (“QGEP”), a wholly owned subsidiary, has entered into a purchase and sale agreement for the acquisition of 10% of Shell Brasil Petroleo Ltda‘s participating interest in Block BM-S-8 located offshore in the Santos Basin. Shell currently owns a 20% working interest in the block, which is operated by Petrobras, and owned by a consortium comprised of Petrobras, Petrogal and Shell.

The transfer of Shell´s participating interest to QGEP is subject to approval by the ANP.

“This farm-in agreement demonstrates our strategy of building value by investing in high quality assets that diversify and strengthen our portfolio," said José Augusto Fernandes Filho, QGEP’s Chief Executive Officer.

The Company will host conference calls to provide further information on the farm-in agreement. The remarks will be followed by a question-and-answer period.

Please call the following number approximately 10 minutes prior to the scheduled time of the call:

Conference call in Portuguese:
Tuesday, July 5, 2011 - 11 a.m. Brasilia Time/10 a.m. New York Time
Phone (Brazil): +55 11 4688-6361
Code: Queiroz Galvao
Replay: +55 (11) 4688-6312
Code: 709061

Conference call in English:
Tuesday, July 5, 2011 - 13 p.m. Brasilia Time/12 p.m. New York Time
Phone (United States): +1 786 924-6977
Phone (Brazil): +55 11 4688-6361
Code: Queiroz Galvao
Replay: +55 (11) 4688-6312
Code: 2844672


Updated in  2013-12-11T10:52:12
All the dates of this page are presented in official timezone of Brasilia - Brazil.

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