OREANDA-NEWS. August 15, 2011. MPX Energia announces results for the second quarter ended in this August, 12th. "In the second quarter of 2011, the great value creation potential arising from the integration between natural gas E&P and power generation in the Parnaiba Basin started to materialize. The declaration of commerciality of two gas accumulations was followed by the acquisition of power contracts from the Bertin Group, with supply and, consequently, cash generation starting in 2013. Only two years have passed since we announced the acquisition of an interest in the exploratory blocks and MPX has already managed to increase its contracted capacity by approximately 50%. With 3.7 GW already licensed in the region and over 11 Tcf in risked gas resources, we expect to deliver even more impressive results” stated Eduardo Karrer, CEO and Investor Relations Officer of MPX.

“Our investment capacity was strengthened with the issuance of over BRL  1.3 billion in convertible debentures. That, added to the commencement of the PPAs at Energia Pecem and Itaqui in January 2012 and of Pecem II and Parnaiba in January 2013, assures a stable financial base for the Company’s growth, which will be further enhanced by our business in Colombia. Initial results of our drilling program in the San Juan area are in line with our geological model and reinforce our confidence in the successful development of a highly competitive mining system”, added Eduardo Karrer.