ÓLEO E GÁS PARTICIPAÇÕES S.A. - Em Recuperação Judicial CNPJ/MF: 07.957.093/0001-96 Public Company - B3: OGXP3 OGX PETRÓLEO E GÁS S.A. - Em Recuperação Judicial CNPJ/MF: 08.926.302/0001-05 Public Company - B3: OGSA3 Material Fact - Suspension of General Meeting of the DIP Debentures holders -

Rio de Janeiro, July 31st, 2017 - Óleo e Gás Participações S.A. - Em Recuperação Judicial (B3: OGXP3; OTC: OGXPY.PK) and OGX Petróleo e Gás S.A. - Em Recuperação Judicial (B3: OGSA3; OTC: OXPRY.PK) (respectively, "OGpar" and "OGX", and, when together, "Companies"), in accordance with article 157, paragraph 4th of Brazilian Law No. 6,404/76 and CVM Rule No. 358/02, and in addition to the Materials Facts previously released, announce to their shareholders and to the market that, in the General Meeting of the DIP Debentures holders, convertible into shares, with real guarantee, with additional fiduciary guarantee, in 3 (three) series, from OGX 3rd (third) issuance ("DIP Debentures"), held on the hereby date, at 11 a.m., to deliberate about an eventual extension of the Standstill period, settled on May 14th, 2015, between OGX, OGPar and Oliveira Trust Distribuidora de Títulos e Valores Mobiliários S.A., fiduciary agent, among others, the majority of the debenture holders attendees approved the suspension of the aforementioned Meeting, to be reopened at Rua Lauro Müller, 116, 38º floor, room 3802, Botafogo, Rio de Janeiro, RJ, at 11a.m. on October 2nd, 2017 or on the date of the new meeting to be convened for the approval of the necessary arrangements for the conversion of debentures into shares issued by OGX in accordance with the agreement, subject of the material fact from July 24th, 2017, whichever occurs firts.

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

Rio de Janeiro, July 31st, 2017 Márcia Mainenti

Chief Financial and Investor Relations Officer

Óleo e Gás Participações S.A. - Em Recuperação Judicial OGX Petróleo e Gás S.A. - Em Recuperação Judicial 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.

OGpar / OGX Contacts: Investor Relations

Márcia Mainenti Victor Rosenzvaig ri@ogpar.com.br

+55 21 3916-4545

Media:

Cibele Flores cibele.flores@ogpar.com.br

+55 21 3916-4505

Oleo e Gas Participacoes SA em Recuperacao Judicial published this content on 31 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 July 2017 23:25:09 UTC.

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