OGX Makes Oil Find at Tupungato Propsect

OGX has found hydrocarbons in the Albian section of well 1-OGX-20-RJS in the shallow waters of the Campos Basin. Following the recently announced discovery in the Maastrichtian section of the well, drilling continued to the Albian section, where an oil column of about 262 feet (80 meters) with nearly 164 feet (50 meters) of net pay was encountered in carbonate reservoirs. Drilling is continuing in this section to determine the total column and net pay. The OGX-20 well is expected to hit a final depth of nearly 11,975 feet (3,650 meters). Situated about 53 miles (85 kilometers) off the coast of Rio de Janeiro at a water depth of 427 feet (130 meters), the OGX-20 well on the Tupungato prospect is located in the BM-C-41 block. The Ocean Ambassador semisub is drilling the well.

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