Oleo e Gas Participacoes : Request for Temporary Interruption of Production on Tubarão Martelo Field

MPX ENERGIA S

ÓLEO E GÁS PARTICIPAÇÕES S.A. - Em Recuperação Judicial CNPJ/MF: 07.957.093/0001-96 Public Company - BOVESPA: OGXP3

OGX PETRÓLEO E GÁS S.A. - Em Recuperação Judicial CNPJ/MF: 08.926.302/0001-05 Public Company - BOVESPA: OGSA3

Material Fact

- Request for Temporary Interruption of Production on Tubarão Martelo Field -

Rio de Janeiro, January 19th, 2016 - Óleo e Gás Participações S.A. - Em Recuperação Judicial ("OGPar")(BM&FBOVESPA: OGXP3; OTC: OGXPY.PK) and OGX Petróleo e Gás S.A. - Em Recuperação Judicial ( BM&FBOVESPA: OGSA3; OTC: OXPRY) ("OGX", and together "Companies"), in accordance with article 157, paragraph 4 of Brazilian Law No. 6.404/76 and CVM Rule No. 358/02, announce to their shareholders and to the market that sent, on January 18th, 2016, to Agência Nacional de Petróleo, Gás Natural e Biocombustíveis ("ANP"), Brazilian regulatory agency, a request to interrupt temporary the production on Tubarão Martelo Field ("TBMT Field").

The temporary suspension of production on TBMT Field was mainly requested due to (i) current adversities on the oil and gas market, such as the falling price of the Brent in the international market; (ii) initial high projections of productivity of wells, that were later inconsistent with the field actual potential; and (iii) high operational costs of leasing.

It is worth mentioning that the temporary interruption of the activities is subject to ANP approval, having been analyzed the proposal will be answered within 60 days.

The interruption of TBMT Field for up to one year, will allow the Companies to evaluate a superior way to resume production on the mentioned field, considering the use of new technologies and economic feasibility of the asset.

The Companies will keep its shareholders and the market informed of any further developments on this matter.

Legal Notice:

This document contains Company-related statements and information that reflect the current vision and/or expectations the Company and its management have regarding its business plan, These include, among others, all forward-looking statements that involve forecasts and projections, indicate or imply results, performance or future achievements, and may contain words such as "believe," "foresee," "expect," "consider," "is likely to result in" or other words or expressions of similar meaning, Such statements are subject to a series of expressive risks, uncertainty and premises, Please be advised that several important factors can cause the actual results to diverge materially from the plans, objectives, expectations, estimations, and intentions expressed in this document, In no event shall the Company or the members of its board, directors, assigns or employees be liable to any third party (including investors) for investment decisions or acts or business carried out based on the information and statements that appear in this presentation, or for indirect damage, lost profit or related issues, The Company does not intend to provide to potential shareholders with a revision of the statements or an analysis of the differences between the statements and the actual results, Each investor must conduct and rely on its own evaluation, including of the associated risks, in making an investment decision,

Contacts: Investor Relations Márcia Mainenti

Joana Montenegro Victor Rosenzvaig [e-mail]

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Media:

Cibele Flores [e-mail]

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