Brazil Petrobras Reports Reconcavo Oil Find to ANP

RIO DE JANEIRO (Dow Jones Newswires), Mar. 10, 2009

Brazilian state-run energy giant Petrobras notified regulators late Monday that it found traces of oil in a test well drilled in the Reconcavo Basin.

The find was made at the inland REC-T-265 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 Sonda Convencional 94 rig was drilling at the site in late February, with a target depth of 1,133 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.  

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