OREANDA-NEWS.OGX Petroleo e Gas Participacoes S.A. (“OGX”), announces that given its adverse financial situation and accumulated losses, as well as the recent due and forthcoming interest payments of a great part of its debt, urgently filed, today, along with its subsidiaries OGX Petroleo e Gas S.A., OGX International GmbH and OGX Austria GmbH, a judicial recovery request at the Judicial District of Rio de Janeiro State, in the terms of 51 and following articles of law n.? 11.101/05, after deliberation made by its Board of Directors on October 30, 2013.

As previously informed to the market, the Company, together with its advisors, has been talking with potential investors. Nevertheless, the Company's management understands that due to the challenges derived from its financial economic situation, the judicial recovery request is the most adequate measure to be taken in order to preserve the continuity of its business and to protect OGX's and its shareholders' best interests.

The information related to the judicial recovery requests, as well as other facts and other relevant material information, will be opportunely disclosed in accordance with the applicable law.