ypf s.a.-sponsored adr (YPF) Snapshot

Acting Attorney General John Hoffman and Department of Environmental Protection (DEP) Commissioner Bob Martin announced that several principal defendants in the Passaic River litigation have agreed to pay the state $130 million to resolve a portion of the state's claims related to contamination of the Passaic River. The settling defendants are Repsol, S.A, YPF, S.A., YPF Holdings, Inc. and YPF International, as well as CLH Holdings, Inc., Maxus Energy Corporation, Maxus International Energy Company and Tierra Solutions, Inc. The agreement follows a recently-announced $35.4 million proposed settlement with 258 third-party defendants and, if approved by the court, will allow the state to immediately proceed with its claims against the principal defendant, Occidental Chemical Corporation (OCC), for the bulk of the state's damages and future costs. The proposed settlement was presented on Friday to Superior Court Judge Sebastian P. Lombardi in Newark and Special Master Marina Corodemus. Since the state and the settling defendants technically remain in litigation, the state cannot comment on the terms of the proposed agreement. Going forward, the state intends to pursue its liability claims against the one remaining non-settling principal defendant, Occidental Chemical Corporation, for all future clean-up and removal costs related to contamination of the Passaic River. It also will pursue OCC for damages resulting from the intentional discharge of Agent Orange, dioxins and other hazardous substances by the former Diamond Shamrock plant. These costs and damages are separate from, and in addition to, the $130 Million received from the settling defendants.

YPF S.A., Annual General Meeting, May 30, 2013., at 17:00 Argentina Standard Time. Agenda: To consider determination of the number of regular and alternate members of the Board of director; and to consider appointment of the regular and alternate Directors for Class D shares and determination of their tenure.

YPF S.A. announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of ARS 18,634 million against ARS 14,850 million a year ago. Operating income was ARS 2,533 million against ARS 2,499 million a year ago. Net income was ARS 1,258 million or ARS 3.20 per basic and diluted share against ARS 1,294 million or ARS 3.29 per basic and diluted share a year ago. EBITDA was ARS 5,365 million against ARS 4,447 million a year ago. Net cash provided by operating activities was ARS 3,770 million against ARS 5,158 million a year ago. Acquisitions of fixed assets and intangible assets were ARS 4,744 million against ARS 3,818 million a year ago. Capex was ARS 4,282 million, a substantial 100.8% increase compared to ARS 2,132 million invested during first quarter of 2012. The company’s total production at upstream was 31.4 Mm3d against 32.6 Mm3d a year ago.