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    PRIO3   BRPRIOACNOR1

PETRO RIO S.A.

(PRIO3)
  Report
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 09/16
20.89 BRL   -0.95%
09/09PETRO RIO S A : August 2021 operational data
PU
09/06PETRO RIO S.A.(BOVESPA : PRIO3) added to Brazil Mid-Large Cap Index
CI
09/03PETRO RIO S.A.(BOVESPA : PRIO3) dropped from Brazil Small Cap Index
CI
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Petro Rio S A : MATERIAL FACT - ROYALTY RATE REDUCTION FOR TUBARÃO MARTELO FIELD

07/29/2021 | 05:58pm EDT

MATERIAL FACT

ROYALTY RATE REDUCTION FOR TUBARÃO MARTELO FIELD

Rio de Janeiro, July 29, 2021 - Petro Rio S.A. ("Company" or "PetroRio") (B3: PRIO3), in accordance with art. 26 of the Novo Mercado Regulation, informs its shareholders that the country's National Petroleum, Gas and Biofuels Agency ("ANP") has approved on this date the Development Plan of the cluster consisting of the Polvo and Tubarão Martelo Fields.

Among other topics, ANP granted PetroRio a royalty rate reduction for the Tubarão Martelo Field, as an incentive to invest in the Field's revitalization. The approval establishes the reduction of the royalty rate from 10% to 5% on the incremental production resulting from the Field's investments, based on the concession contract and on Resolution 749/18, which regulates the royalty rate reduction on incremental production for mature fields.

As such, incremental production from new investments in Tubarão Martelo Field will have their royalty rate reduced to 5%, including the production of the TBMT-10HP well, expected to start production in September.

About PetroRio

PetroRio is one of the largest independent companies in the oil and gas production in Brazil. The Company´s corporate culture seeks to increase production through the acquisition of new production assets, the redevelopment of assets, increased operational efficiency and reduction of production costs and corporate expenses. PetroRio's main objective is to create value for its shareholders with growing financial discipline and preserving its liquidity, with full respect for safety and the environment. For further information, please visit the Company's website: www.petroriosa.com.br.

Disclaimer

This news release contains forward-looking statements. All statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, statements regarding our drilling and seismic plans, operating costs, acquisitions of equipment, expectations of finding oil, the quality of oil we expect to produce and our other plans and objectives. Readers can identify many of these statements by looking for words such as "expects", "believe", "hope" and "will" and similar words or the negative thereof. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. By their nature, forward-looking statements require us to make assumptions and, accordingly, forward-looking statements are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements, since a number of factors may cause actual future circumstances, results, conditions, actions or events to differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements and the assumptions underlying the forward-looking statements.

Praia de Botafogo, 370 • 13º andar • Botafogo • 22250-040 • Rio de Janeiro/RJ +55 21 3721 3800

petroriosa.com.br

Disclaimer

Petro Rio SA published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 21:53:05 UTC.


© Publicnow 2021
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Financials
Sales 2021 4 168 M 791 M 791 M
Net income 2021 1 088 M 206 M 206 M
Net cash 2021 1 306 M 248 M 248 M
P/E ratio 2021 12,0x
Yield 2021 0,48%
Capitalization 17 532 M 3 337 M 3 326 M
EV / Sales 2021 3,89x
EV / Sales 2022 3,29x
Nbr of Employees 82
Free-Float 66,3%
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Technical analysis trends PETRO RIO S.A.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 8
Last Close Price 20,89 BRL
Average target price 22,94 BRL
Spread / Average Target 9,80%
EPS Revisions
Managers and Directors
Roberto Bernardes Monteiro Chief Executive Officer, Director & IR Director
Milton Salgado Rangel Neto Chief Financial Officer
Emiliano Fernandes Lourenço Gomes Co-Chairman & Legal Director
Nelson de Queiroz Sequeiros Tanure Co-Chairman
Francisco Francilmar Fernandes Chief Operations Officer
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