Glossary

Profit for the period before net finance cost, income tax, depreciation, amortization, certain non-cash items such as impairments and write offs of unsuccessful efforts, accrual of stock options and stock awards and bargain purchase gain on acquisitions of subsidiaries.

Adjusted EBITDA divided by total boe deliveries for the applicable period.

Agência Nacional do Petróleo, Brazil’s National Agency of Petroleum.

Barrels of oil equivalent.

Barrels of oil equivalent per day.

Barrels of oil per day.

Contrato Especial de Operacion Petrolera (Special Petroleum Operations Contract).

Earnings per share.

Initial Public Offering.

Thousand barrels of oil.

Million barrels of oil equivalent.

Thousand cubic feet per day.

Million cubic feet per day.

Thousand cubic meters per day.

Present value of estimated future oil and gas revenues, net of estimated direct expenses, discounted at an annual rate of 10%.

Petroleum Resources Management System.

Society of Petroleum Engineers.

Square kilometers.

Working interest.