Petrobras Scores Sixth Find in Espirito Santo Basin over Past Month

RIO DE JANEIRO (Dow Jones Newswires), May 11, 2009

Brazilian state-run energy giant Petroleo Brasileiro SA (PBR) scored its sixth oil or natural gas find in the Espirito Santo Basin over the past month, with a wildcat well in the BT-ES-15 block testing positive.

Petrobras notified Brazil's National Petroleum Agency of the find May 6, but it was posted to the ANP's Web site over the weekend. The 1BRSA718ES well at the inland block tested positive for oil, according to the ANP.

The Drillfor-8 rig, which has tapped several of the finds, was listed as operating at the block, targeting a depth of 2,008 meters, ANP drilling data showed.

Last week, Petrobras said it found traces of oil in two other Espirito Santo blocks. A wildcat well drilled in the ES-T-364 block tested well after a previous well at the inland block also showed signs of oil in mid-April.

Petrobras also said last week it found traces of oil and gas for a second time at the ES-T-372 inland block. Meanwhile, a test well at the ES-T-505 block also showed positive for oil and gas in mid-April.

Oil companies operating in Brazil must inform the ANP of indications of oil, gas or hydrocarbons in any exploratory well within 48 hours. The disclosures are routine, and do not indicate commercial viability.  

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