ÓLEO E GÁS PARTICIPAÇÕES S.A. CNPJ/MF: 07.957.093/0001-96 Public Company - BOVESPA: OGXP3 - Conclusion of Parnaíba Gás Naual S.A. Shares' Auction - Rio de Janeio, August 7, 2014 - The Óleo e Gás Participaçõs S.A. - In Judicial Recovery ("Company") (Bovespa: OGXP3; OTC: OGXPY.PK), announces the placement, in second call, of a public auction, regarding the 245,728,660 ordinary shares of Panaíba Gás Natural S.A. ("PGN") owned by OGX Petróleo e Gás S.A. - Under Judicial Recovery ("OGX"), the Company's subsidiary. The Auction was concluded after Cambuhy Investimenos LTDA bid an amount of R$

199,998,556.37 for the shares, to be adjusted by IPCA index since the date of October 30, 2013, according to the Reorganization Plan of OGX.

The conclusion of Cambuhy's shares acquisition is under certain precedent conditions, among which, the final and unappealable of the decision confirmation on OGX's Plan of Judicial Recovery.

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 Contacts

Investors:
Marcia Mainenti Marianna Sampol ri@ogpar.com.br
+55 21 3916 4545
Media:
Cibele Flores, Cibele.flores@ogpar.com.br
+55 21 3916 4505

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