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This excerpt taken from the PBR 6-K filed Apr 7, 2008. Pre-Salt Executive Management Creation (Rio de Janeiro, April 4, 2008). – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that today, the Board of Directors approved the creation of the Pre-Salt Executive Management to coordinate, per matrices, all of the Exploration and Production activities carried out in the pre-salt layer. The Pre-Salt Executive Management will report to Petrobras’ Exploration & Production Executive Office. In the next three years, the new Pre-Salt Executive Management will be in charge of coordinating the assessment plans that are already being undertaken by the Exploration & Production Executive Office, of deploying the Long Duration Test (LDT), and of the first production pilot in the Tupi accumulation, foreseen, respectively, for 2009 and 2010. The board of directors also maintained the current composition of the company’s board and presidency for the next three years, beginning in April 2008.
www.petrobras.com.br/ri/english
This document may contain forecasts that merely reflect the expectations of the Company’s 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. SIGNATURE
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: April 4, 2008
FORWARD-LOOKING STATEMENTS
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.
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