This excerpt taken from the PBR 6-K filed Jul 24, 2007.
Marlim Field Special Participation
(Rio de Janeiro, July 23, 2007). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that in view of the news the press has divulged regarding an alleged calculation error the Company may have made in paying the so-called Special Participation governmental contribution which incurs on oil production, and in this specific case in connection with the Marlim Field, in the Campos Basin , we hereby clarify that Petrobras has always acted in strict observance of the law and of the National Petroleum Agencys (ANP) regulations and that it indeed paid the exact amount of the special participation charged by the ANP, under the terms of the deliberation of that agencys highest decision-making body, its COLLEGIAL BOARD.
The ANP recently changed its collection values by revoking decisions made by its own board. The ANP is billing Petrobras again, retroactively and for a higher sum, for ascertainment periods Petrobras has already paid in compliance with the ANPs own previous decision.
Petrobras, as an ANP concessionaire for oil exploration and production activities, will respect the ANPs decisions and deliberations at all times, as long as they observe the legal order in effect in Brazil.
It is our understanding, however, that there is no legal basis for ANPs decision reversal regarding ascertainment periods that have already been paid, as this violates constitutional principles and causes this Company to seek to protect its rights in order to maintain its good corporate management practices and to defend its shareholders interests.
Contacts: PETRÓLEO BRASILEIRO S. A. PETROBRAS
Investor Relations Department I Raul Adalberto de Campos - Gerente Executivo I E-mail: firstname.lastname@example.org
Av. República do Chile, 65 22nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947
This document may contain forecasts that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 24, 2007
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.