NEWS

NOTICE TO THE MARKET

CLARIFICATION ON BM&FBOVESPA CONSULTATION

Rio de Janeiro, May 03, 2016 - Petro Rio S.A. ("the Company" or "PetroRio") (BM&FBOVESPA: PRIO3, TSX-V: PRJ), attending the BM&FBovespa Official Letter SAE 1818/2016, concerning the news "PetroRio busca, nos EUA, sócio para fazer aquisições" (in a free translation: "PetroRio seeks, in the USA, partner for acquisitions") published in the Brazilian newspaper Valor Econômico in the edition of May 02, 2016, reiterates that its growth strategy consists in the acquisition of oil producing fields. For the implementation of this strategy, the Company may raise funds to finance its growth.

PetroRio constantly seeks to maximize value for its shareholders and regularly studies new business opportunities. However, to this date, there is no proposal, binding document, information or decision concerning the news mentioned above that justifies any announcement from the Company to the market.