Total Contingent and Risked Gas Resources of the Parnaiba Basin Add Up to 11.3 Tcf of Gas

RIO DE JANEIRO, April 18, 2011 /PRNewswire/ -- MPX Energia S.A. ("MPX" or "Company") (Bovespa: MPXE3, GDR I: MPXEY), a Brazilian diversified energy company with the largest portfolio of integrated energy projects in South America, adding up to 11 GW, and complementary businesses in power generation, coal mining, and natural gas E&P, today announced that estimates by DeGolyer & MacNaughton ("D&M") indicate that total gross contingent and risked prospective gas resources of the seven onshore blocks operated by OGX Maranhao(1) in the Parnaiba basin add up to 11.3 trillion cubic feet (Tcf), significantly exceeding the volume needed to supply the 4 GW power generation capacity that MPX plans to develop in the region. Additionally, the estimates provided by D&M pointed to risked prospective oil resources of 96 million barrels.  MPX's interest in these resources amounts to 2.6 Tcf of gas, with upside potential of 13.3 Tcf, and 0.5 billion barrels of oil. These outstanding results further reinforce the Company's initial estimates of significant gas production potential, and additionally confirm oil potential.

"These results, presented by a world-renowned independent petroleum consultant, prove the extraordinary success of the EBX Group strategy, focused on world-class assets with high productivity and low costs, and on the leveraging of the synergies throughout the Group," said Mr. Eike Batista, Chairman of MPX and CEO of the EBX Group.

Mr. Eduardo Karrer, CEO of MPX, commented, "These results reinforce our belief in the strategic importance of the Parnaiba Thermal Generation Complex, the development of which should be a landmark in the expansion of gas-based energy generation in Brazil, as well as a main driver of MPX's future growth."

The table below shows a summary of D&M's estimates for the Parnaiba Basin.

These estimates are based on three wells located in the PN-T-68 block(2), for which seismic studies have been conducted and drilling concluded by December 31, 2010.

The full version of the D&M report released today and a glossary of terms can be found at on the Company's website (http://www.mpx.com.br/ri).

MPX, in partnership with OGX, hosted a conference call to discuss the results presented above. The call was held on Monday, April 18, 2011 at 9 AM (Brasilia time)/ 8 AM (US ET).

Please find the conference call information below:

Eduardo Karrer

CEO and IR Officer

MPX Energia S.A.

ABOUT MPX

MPX Energia S.A., an EBX Group company, is a Brazilian diversified energy company with complementary businesses in power generation, coal mining, and natural gas E&P in South America. The Company has a large portfolio of thermal energy projects, exceeding 11 GW of capacity, which positions it to be a leading private-sector power generator.  In Colombia, MPX has a world-class coal company with potential resources of over 4 billion tons of compliance coal, enough to support production of 35 million tons per year with integrated infrastructure that includes a 150 km railway from the mines to the coast and a deep-water port. Coal produced in Colombia will be sold internationally in addition to supplying MPX plants in Brazil and Chile. MPX power generation plants will also be the primary off-takers of the natural gas produced in the Company's unique onshore portfolio in the Parnaiba basin.

(1) OGX Maranhao is a joint venture between MPX (33.3%) and OGX Petroleo e Gas Participacoes S.A. (66.7%), that owns 70% of exploration rights of 7 onshore blocks in the Parnaiba basin. The remaining 30% is owned by Petra Energia S.A..

(2) OGX-16, OGX-22 and CP-01, the latter drilled by Petrobras in the 1980s.

SOURCE MPX Energia S.A.