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This excerpt taken from the PBR 6-K filed Dec 20, 2005.
(Rio de Janeiro, December 19, 2005). – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA], a Brazilian international energy company, announces that it took part in the first new energy auction on Friday, December 16, selling 1,391 MW to the market. The final auction result represents sales of available energy from the Company’s power plants generating fixed revenue for a term of 15 years in current values of R$ 199,842,928.00/year from 2008 with the sale of 352 MW, of an additional R$ 210,878,250.00/year from 2009 with the sale of a further 469 MW and an additional R$ 277,927,992.00/year from 2010 from the sale of 570 MW. Additionally Petrobras will be remunerated for variable costs of operation, as per already established parameters and the effective dispatch of the power plants. The proactive participation in this auction is in line with the objectives established in the Strategic Plan for consolidating Petrobras as an integrated energy company with a strong international presence and as a leader in Latin America acting with social and environmental responsibility in a safe and profitable manner.
http: //www.petrobras.com.br/ri/english
Contacts:
Petróleo Brasileiro S.A – PETROBRAS
Investor Relations Department
Raul Adalberto de Campos– Executive Manager E-mail: petroinvest@petrobras.com.br Av. República do Chile, 65 - 4th floor 20031-912 – Rio de Janeiro, RJ (55-21) 3224-1510 / 9947
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: December
19, 2005
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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