Brava Energia (BRAV3) reported this Thursday, September 17, 2026, the termination of the transaction for the sale of 11 onshore oil and gas concessions, located in the Potiguar Basin, in the state of Rio Grande do Norte, to the consortium formed by Azevedo e Travassos Petróleo S.A. (A&T) and Petro-Victory Energy Corp. (PVE).
According to the company, the termination results from reaching the contractually stipulated Longstop Date without certain conditions precedent to closing the transaction having been fulfilled by the purchasing consortium. In view of this, Brava exercised its right to terminate the transaction, under the terms and conditions set forth in the Purchase and Sale Agreement (SPA).
The company stated that the termination of the transaction does not affect its short- and medium-term strategic planning, including operational plans and capital allocation. Brava Energia considers the transaction closed and will remain attentive to any need to provide additional clarification to the market.
