QGEP Reports 2Q13 Results

RIO DE JANEIRO, Aug. 7, 2013 /PRNewswire/ -- QGEP Participacoes S.A. [BM&FBOVESPA: QGEP3]  releases today its second quarter results. For further information, click here.

Highlights:

• QGEP was awarded a total of 8 deep water blocks in the 11^th ANP bidding round, with operatorship of 5 blocks;
• Average daily gas production from the Manati Field was 5.0MMm3 in 2Q13, despite scheduled maintenance in April;
• Net Revenue was R$100.2 million, compared with R$123.2 million in 2Q12;
• EBITDAX in 2Q13 was R$41.7 million, compared with R$79.3 million in 2Q12; 2Q13 EBITDAX margin was 41.6%;
• Net income was R$30.1 million in 2Q13, compared with net loss of R$96.1 million in 2Q12, when the Company recognized higher exploratory costs.;
• Cash flow from operating activities was R$62.1 million in 2Q13, down 4.4% from 2Q12; 6M13 operating cash flow was R$160.8 million;
• Cash balance of R$1.1 billion at the end of 2Q13.

To access the Manati Annual Statement of Reserves, click here.

Conference Call - English | August 08th, 2013
(simultaneous translation)
11:00 a.m. - New York | 12:00 p.m. - Brasilia
Dial-in: +1 (786) 924-6977
Code: Queiroz Galvao
Webcast: click here

Participants are requested to connect fifteen minutes prior to the time set for the conference call.

For more information, please contact our Investor Relations team:
Phone: 55 21 3509-5959
E-mail: [email protected]
www.qgep.com.br/ri

SOURCE QGEP Participacoes S.A.