Petrobras Reports Santos Gas Find to Regulators

RIO DE JANEIRO (Dow Jones Newswires), March 12, 2009

Brazilian state-run energy company Petrobras (PBR) notified regulators late Wednesday that it found traces of gas in a test well drilled in the offshore Santos Basin.

The find was made in shallow waters of the S-M-405 block, Brazil's National Petroleum Agency, or ANP, said on its Web site. Petrobras holds a 100% stake in the block

Drilling data showed that the Pride Mexico rig was drilling at the site at a water depth of 469 meters and a target depth of 4,574 meters.

Oil companies operating in Brazil must inform the ANP of indications of oil, gas or hydrocarbons in any exploratory well within 72 hours. The disclosures are routine, and don't indicate commercial viability.

Copyright (c) 2009 Dow Jones & Company, Inc.

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