Controlling shareholder Batista sold shares then worth over 75 million reais ($33 million) to reduce his participation to 57.1%, according to information filed with Brazil's financial regulator CVM.
Batista made five transactions between 7 June and 13 June when shares were worth between 1.25 and 1.38 reais.
He previously had 58.9% interest, a total of 1.9 billion shares.
On 1 July the company announced it was suspending development efforts at the already-underperforming Tubarao Azul field, saying no existing technology could improve the field's production curve enough to make its original plans economically viable.
On
