OGX Hits Pay In Southern Campos

OGX Petroleo e Gas Participacoes S.A. announced Friday that it has identified an oil-bearing interval in the Aptian section of well 1-OGX-6-RJS, located in the BM-C-41 block, in the shallow waters of the southern part of the Campos Basin. OGXholds a 100% working interest in this block.

An oil column of about 81 meters with approximately 17 meters of net pay was encountered in carbonate reservoirs in the Aptian section. The well OGX-6 is in its final phase of drilling and will target a final depth of approximately 3,600 meters.

In addition to the information released on March 5th about the Albian section of this same well, OGX stated that the total oil column and net pay identified in this section have been increased, respectively, to approximately: 165 from 70 meters and 74 from 38 meters.

The OGX-6 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 137 meters. The rig Ocean Quest, provided by Diamond Offshore, initiated drilling activities on February 2, 2010.

OGX Petroleo e Gas SA is focused on oil and natural gas exploration and production in Brazilian offshore sedimentary basins and is conducting the largest private exploratory campaign in Brazil. OGX has a diversified, high-potential portfolio, comprised of 29 exploratory blocks in the Campos, Santos, Espirito Santo, Para-Maranhao and Parnaiba Basins which encompass an offshore area of approximately 7,000 km and onshore area of approximately 21,500 km. OGX is a member of the EBX Group.

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