Notice to the Market - QGEP - Response to Notice SAE/GAE 2.995-14

Rio de Janeiro, September 25, 2014 - QGEP Participações S.A. ("Company") today presents information for the clarifications requested by BM&FBOVESPA S.A. Bolsa de Valores, Mercadorias e Futuros ("BM&FBOVESPA") and Comissão de Valores Mobiliários ("CVM"), in response to Notice SAE/GAE 2.995-14, from September 24, 2014 ("Notice").

The Notice requests clarificationin relationto anarticle published in the newspaper Valor Econômico on September 24, 2014, entitled "Produção em Atlanta deve dobrar receita da Queiroz Galvão", or "Production in Atlanta should double the revenue of QueirozGalvão."

The Company clarifies that the discussion in the article in questionrelatesto the start of production at Atlanta Field (Block BS-4),currently expected for the beginning of 2016, as already disclosed by the Company. Block BS-4 is operated by Queiroz Galvão Exploração e Produção S.A. ("QGEP"), with a 30% ownership interest.

The Company clarifies and reiterates that the production capacity, and, consequently, the revenues that will follow, dependson theconclusion of the FPSO unit bidding process,which isexpected to be finalized in the fourth quarter of 2014. The conclusion of the bidding, as widely announced by the Company to the Market, will define whether the Consortium contracts an FPSO with 25kbbl/d capacity for the Early Production System, or another with 80kbbl/d capacity, moving straightto Full Development.

As a result, any revenue projection relating tothe controlled QGEP’s Atlanta Field is linked to the final decision of the Consortiumbetween the Early Production System andFull Development, which is still pending conclusion of the biddingprocedures.

The Company will revise its revenues projections(Item 11 of the Reference Form), currently exclusively related to the Manati Field, to include the Atlanta Field as soon as the Consortium has the definition between the options mentioned, as well as assured the contracting of the FPSO in question.

We trust that with the information abovedisclosed, the Company has fulfilled thepreviously-sentrequest for clarification. We remain available to BM&FBOVESPA and CVM for any further clarifications.

For additional information, please contact the Company’s Investor Relations team:

Phone: 55 21 3509-5959

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Updated in  2014-10-15T13:05:27
All the dates of this page are presented in official timezone of Brasilia - Brazil.


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