OREANDA-NEWS. November 14, 2012. HRT Participates em Petroleo S.A. (the “Company” or ‘‘HRT’’) (BM&FBOVESPA: HRTP3, TSX-V: HRP) announces the signing of a non-binding Term Sheet with the U.S. company Erickson Air-Crane Inc (the Buyer), for the sale of its air logistics business.

This agreement will be subject to a Due Diligence during a period of 180-day, when its conditions should be confirmed and subsequently submitted to approval of the Board of Directors of both Companies.

The transaction involves the transference of its entire rotary-wing fleet (14 helicopters) and also envisages that the buyer will provide air services to HRT Group for a 3-year period.

The Service Agreement will be subject to the approval of the Management Committee of the Joint Venture formed by HRT O&G Exploragao e Produgao de Petroleo Ltda. and TNK-Brasil Exploragao e Produgao de Oleo e Gas Natural Ltda., which holds the exploratory rights over 21 blocks in the Solimoes Basin.