February 24, 2011 / 10:15 PM / 8 years ago

UPDATE 1-Brazil's HRT says buys Canada's UNX Energy

* Deal is worth $781 million

* HRT to pay with Global Depository Shares

* Seeks new exploration fields in West Africa (Adds detail, share price)

SAO PAULO, Feb 24 (Reuters) - Brazilian oil company HRT Participacoes HRTP3.SA said on Thursday that it is acquiring Canada’s UNX Energy UNX.V for 1.3 billion reais ($781 million), according to a filing with the securities regulator CVM.

HRT said it would pay for the deal with global depository receipts, or GDSs.

Through the deal, the Brazilian upstart oil company wants to expand its exploration and production areas in West Africa, where it sees potential for similar deposits to Brazil’s vast, new off-shore oil fields, the statement said. It already holds five exploration blocks along the coast of Namibia.

HRT is an independent oil exploration and production company formed in 2008.

Its share's closed 3.16 percent lower at 1839.99 reais on Thursday, compared with a virtually flat benchmark Bovespa stock index .BVSP. ($1=1.664 reais) (Reporting by Guillerme Parra-Bernal; Writing by Raymond Colitt; Editing by Gary Hill and Carol Bishopric)

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