OGX Concludes Drillstem Testing in Campos Basin

OGX has concluded the Cased Hole Drillstem Test realized in the 1-OGX-14-RJS well, located in the BM-C-40 block, in the shallow waters of the Campos Basin. OGX holds a 100% working interest in this block.

The OGX-14 well, Peró prospect, was drilled to a depth of 3,067 meters, resulting in the detection of two different accumulations of hydrocarbons in carbonate reservoirs of the Albian section, as previously announced on June 28 and July 15, 2010. A Cased Hole Drillstem Test was performed in carbonate reservoirs of the first Albian accumulation, in order to verify the reservoir’s characteristics in dynamic conditions.

The test was considered conclusive and the pressure and flow data as well as permo-porosity conditions confirm the potential production of 3,000 barrels of oil per day in each vertical well. OGX plans to develop this field through the use of horizontal wells, which have the potential to achieve flow rates up to five times higher than those of vertical wells, pointing to a potential production per well of approximately 15,000 barrels per day.

The test also allowed the evaluation of the oil quality, estimated between 26 and 28° API. The static pressures measured are normal, with no indication of depletion. This test is an important step for the better understanding of both the reservoir and the development of future production projects in the region.

Sea Explorer, the rig used in this test, will be mobilized to the next location, within the Waimea prospect, located in the BM-C-41 block, in the shallow waters of the southern part of the Campos Basin.

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