GTU Process Plant View
Net Sales Revenue
The Company’s sales in 3Q12 total R$324.7 (until October total R$493.8 million). Of this total, R$150.7 million earned after the EWT with the sale of a shipment of 789,800 barrels to Shell booked as net sales revenue. Sales prior to the conclusion of the EWT of R$174 million for 794,200 barrels were booked as a reduction in property, plant and equipment.
We ended 3Q12 with a solid cash position of R$5.1 billion (equal to US$2.5 billion).Cash and Cash Equivalents Cash and cash equivalents totaled R$5.1 billion on September 30, 2012, down R$308.9 million over the balance on December 31, 2012. This decrease is chiefly due to: (a) CAPEX of R$3.2 billion, partially offset by (b) fundraising in 1Q12 of R$2.5 billion; (c) EBITDA from FPSO OSX-1 of R$105.7 million; and (d) restitution of withholding income tax on financial applications of R$156 million. Property, Plant and Equipment (CAPEX) Property, plant and equipment represented by capital expenditures during the exploration and development phases include expenses related to drilling campaigns and acquisition of E&P equipment. From December 31, 2011 to September 30, 2012, this balance increased by R$2.8 billion. Loans and Financing The R$3.3 billion increase in the balance of loans and financing between December 31, 2011 and September 30, 2012 is due to the transactions listed in the loans and financing table in the appendix. Conference Call: Friday, November 9 at 12 P.M. (Brasília Time Zone); 9:00 A.M. (EST)Telephone (Brazil): +55 11 4688-6341 or +55 11 2104-8901Telephone Toll-free (US): +1 855 281-6021Telephone (US): + 1 786 924-6977Code: OGXWebcast in Portuguese: www.ccall.com.br/ogx/3t12.htm Webcast in English: www.ccall.com.br/ogx/3q12.htm Audio will be available three hours after the conference call on the IR website: www.ogx.com.br/riThe conference call will be conducted in English with simultaneous translation to Portuguese. ABOUT OGX OGX Petróleo e Gás SA is focused on oil and natural gas exploration and production and is conducting the largest private-sector exploratory campaign in Brazil. OGX has a diversified, high-potential portfolio, comprised of 28 exploratory blocks in the Campos, Santos, Espírito Santo, Pará-Maranhão and Parnaíba Basins in Brazil, and 4 exploratory blocks in Colombia, in the Lower Magdalena Valley and the Cesar-Ranchería basins. The total extension area is of approximately 5,675 km² in sea and approximately 36,700 km² on land, with 24,500 km² in Brazil and 12,200 km² in Colombia. OGX relies upon an experienced management team and holds a solid cash position, with approximately US$2.5 billion in cash (as of September 2012) to fund its E&P investments and new opportunities. In June of 2008, the company went public raising R$6.7 billion, which at the time was the largest amount ever raised in a Brazilian IPO. OGX is a member of the EBX Group, an industrial group founded and under the leadership of Brazilian entrepreneur Eike F. Batista, who has a proven track record in developing new ventures in the natural resources and infrastructure sectors. For more information, please visit: www.ogx.com.br/ri LEGAL NOTICE This document contains Company-related statements and information that reflect the current vision and/or expectations the Company and its management have regarding its business plan. These include, among others, all forward-looking statements that involve forecasts and projections, indicate or imply results, performance or future achievements, and may contain words such as “believe,” “foresee,” “expect,” “consider,” “is likely to result in” or other words or expressions of similar meaning. Such statements are subject to a series of expressive risks, uncertainty and premises. Please be advised that several important factors can cause the actual results to diverge materially from the plans, objectives, expectations, estimations, and intentions expressed in this document. In no event shall the Company or the members of its board, directors, assigns or employees be liable to any third party (including investors) for investment decisions or acts or business carried out based on the information and statements that appear in this presentation, or for indirect damage, lost profit or related issues. The Company does not intend to provide to potential shareholders with a revision of the statements or an analysis of the differences between the statements and the actual results. You are urged to carefully review OGX's offering circular, including the risk factors included therein. This presentation does not purport to be all-inclusive or to contain all the information that a prospective investor may desire in evaluating OGX. Each investor must conduct and rely on its own evaluation, including of the associated risks, in making an investment decision.
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