SOURCE: MPX Energia S.A.


November 12, 2010 11:07 ET

MPX -- Earnings Release 3rd Quarter 2010

RIO DE JANEIRO, BRAZIL--(Marketwire - November 12, 2010) - MPX Energia S.A. (BM&F BOVESPA: MPXE3) (GDR I: MPXEY) announces its 3Q10 Results.

"During the third quarter, we made solid advances across MPX's portfolio of projects. In the development of our plants, our efforts proceeded according to schedule. Key equipment assembly reached an advanced stage which allows us to maintain our plan to initiate operations ahead of the terms of the PPAs that we have in place. In Colombia, we have a dedicated team on the ground conducting the studies and evaluations required to achieve our requisite licensing of the open pit mines and the port. We have also established the drilling schedule and certification features of the underground mine in San Juan.

"In addition, we successfully completed the drilling of the first gas well in the Parnaiba basin, which for the first time in almost two decades, opens a new exploration frontier in an onshore basin in Brazil. Significant gas volumes were detected and we began the drilling of a second prospect.

"Given the expected volume of gas present and its strategic location, we will develop a pioneering gas power generation complex through MPX Parnaíba on site," said Eduardo Karrer, CEO and Investor Relations Officer of MPX.

Contact Information

  • Investor Relations:
    Flavia Heller
    +55 21 2555-4244

    Mauricio Tabet
    +55 21 2555-4241

    Roberto Gonzales
    +55 21 2555-4695
    +55 21 8011-0101