Petrobras Hits Gas Pay in Amazon

RIO DE JANEIRO (Dow Jones Newswires), Aug. 9, 2010

Petrobras notified the country's National Petroleum Agency, or ANP, that a well in the Amazon jungle tested positive for natural gas.

The find was listed on the oil regulator's website over the weekend. The discovery was made at the 1BRSA835AM well at the inland SOL-T-150 Block in the Solimoes Basin. Petrobras holds a 100% stake in the block.

The filing was part of a routine process that the ANP requires of oil companies operating in Brazil. Oil companies 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

The well was drilled by the Queiroz Galvao 3 rig to a target depth of 2,166 meters, ANP drilling data showed.

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