OGX Spies Oil Traces in Campos Basin

OGX found an oil-bearing interval in the Albian section of well 1-OGX-14-RJS, located in the BM-C-40 block of the Campos Basin. An oil column of about 197 feet (60 meters) with about 72 feet (22 meters) of net pay was encountered in carbonate reservoirs in the Albian section. Drilled by the Ocean Lexington semisub, drilling of the well on the Pero prospect is still in progress, and a final depth of about 11,155 feet (3,400 meters) should be reached soon. The OGX-14 well is situated roughly 60 miles (96 kilometers) off the coast of the state of Rio de Janeiro in a water depth of 341 feet (104 meters). OGX wholly owns and operates the block.

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