OREANDA-NEWS. Em Recupera??o Judicial (Bovespa: OGSA3) (respectively, "OGpar" and "OGX" and, when together, "Companies"), in accordance with article 157, paragraph 4 of Brazilian Law No. 6.404/76 and CVM Rule No. 358/02, inform their shareholders and the market in general that, filed by Nordic Trustee ASA ("Nordic"), as representative of bondholders issued by OSX 3 Leasing BV, the 45th Civil Court of Rio de Janeiro State Judicial District determined (i) the seizure of the liquid revenue generated from OGX sales of oil, should the purchasing company deposit the amount of money equivalent to 365.000 barrels of oil in a judicial account, within 10 (ten) days after receiving the seizure writ, and (ii) the seizure of 5% of the monthly liquid revenue generated by the Companies.
On this matter, OGX informs that (i) it has taken all the necessary measures to reverse the aforementioned judicial decision, (ii) the decision was taken based on false information given to the Judge by Nordic in relation to the Companies? production and revenues, (iii) Nordic cannot deny the statement that false information was given since this material is public.
Given the potential losses on the Companies? Judicial Reorganization, the Companies will take all the reparable measures not only in Brazil, but also in the courts located where Nordic administrators domicile, reunited as an informal Ad-Hoc group of OSX-3 Leasing BV bondholders. After the identification of each Ad-Hoc group member, and given the gravity of the circumstance, the Companies will inform Brazilian and foreign competent authorities to take the necessary measures.
The Companies will keep its shareholders and the market informed on the development of this matter.