OREANDA-NEWS. HRT Participates em Petroleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP), announces that it has received, on the present date, a joint letter from JG Petrochem Participates Ltda. ("JG Petrochem") and Discovery Capital Management, LLC, jointly with the funds under its management "(Discovery"), in their capacity of shareholders, informing that:

On the date hereof, JG Petrochem and Discovery entered into a settlement agreement by means of which the parties agreed to settle the disputes among themselves as shareholders of HRT, for the benefit of the Company's interests.

JG Petrochem will present, on the date hereof, to the Market Arbitration Chamber (CAM) submissions informing its withdrawal in relation to two arbitration proceedings initiated by it against Discovery, which were mentioned in the News Release disclosed by the Company on January 24, 2014.

Finally, the signatories hereby inform, for all purposes, that (a) the above mentioned settlement agreement does not provide for their respective voting rights with respect to HRT's shares, and (b) they are not parties, directly or indirectly, to any voting agreement with respect to HRT's shares or the Company, whether written, verbal or otherwise.

The letter was simultaneously forwarded by the shareholders to the Company, Comissio de Valores Mobiliorios - CVM (Securities and Exchange Commission of Brazil) and Bolsa de Valores, Mercadorias e Futuros - BM&FBOVESPA (Brazilian Securities, Commodities and Futures Exchange).