OREANDA-NEWS. OGX, the Brazilian oil and gas company responsible for the largest private-sector exploratory campaign in Brazil, announces that it has signed an agreement (“Agreement”) with MPX Energia S.A. (“MPX”) for the sale of a 50% stake in the PN-T-168, PN-T-153, PN-T-113 and PN-T-114 onshore exploration blocks (“Blocks”), located in the Parnaiba Basin, which were acquired by OGX during the 11th Exploration License auction round organized by Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP) on May 14, 2013.

MPX should acquire a 50% working interest in the Blocks under equal terms and conditions to the bids presented by OGX in the 11th ANP Auction Round. The acquisition price will therefore be equivalent to one half of the signing bonuses and other exploration and development commitments assumed in the winning bids.