OGX Continues Winning Streak Offshore Brazil

An oil-bearing interval was identified in the Albian section of the 3-OGX-21D-RJS well, the first appraisal well targeting the Waimea accumulation. To date, an oil column of about 69 feet (21 meters) with about 46 feet (14 meters) of net pay was encountered in carbonate reservoirs in the Albian section, corresponding to those previously identified in well OGX-3. Drilling was interrupted in the hydrocarbon zone of the well in order to conduct sampling, so once sampling is completed, drilling will resume in order to determine that total column and net pay. OGX says this well will be used as a pilot for a horizontal well, in which a cased-hole drillstem test will be conducted. The OGX-21D well is located in the BM-C-41 block about 52 miles (84 kilometers) off the coast of Rio de Janeiro in waters measuring 440 feet (134 meters). The Sea Explorer semisub is drilling the well.