OGX Sees Traces of Oil in Campos Basin Block

OGX has identified an oil-bearing interval in the Aptian section of well 1-OGX-8-RJS, located in the BM-C-41 block, in the shallow waters of the southern part of the Campos Basin. OGX holds a 100% working interest in this block.

So far an oil column of about 65 meters with approximately 44 meters of net pay was encountered in carbonate reservoirs in the Aptian section. The drilling in the Aptian section is still in progress and the well OGX-8, also known as Fuji, will be drilled up to a final depth of approximately 3,700 meters.

The OGX-8 well is located in the BM-C-41 block and is situated approximately 82 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 125 meters. The Ocean Star semisub drilling rig, provided by Diamond Offshore, initiated drilling activities on February 25, 2010.

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