OGX appraisal well off Brazil finds pay

Offshore staff

RIO DE JANEIRO -- OGX Petróleo e Gás Participações S.A. has found hydrocarbons in the Albian section of appraisal well 3-OGX-36D-RJS in block BM-C-41 offshore Brazil in the Campos basin.

The oil column is approximately 135 m (443 ft) with a net pay of about 60 m (187 ft), reports OGX. This directional well, drilled to a depth of 3,612 m (11,850 ft), is a pilot well for the horizontal well that will be drilled next. A drillstem test is scheduled to verify the productivity of this area.

BM-C-41 block is 77 km (48 mi) off the coast of the state of Rio de Janeiro at a water depth of approximately 128 m (420 ft). The rig Ocean Star initiated drilling there on Feb. 14, 2011.

“As we expected, the results from OGX-36D confirm the connectivity of the accumulations in the carbonate reservoirs in the Albian section previously discovered through the drilling of well 1-OGX-2A, Pipeline,” commented Paulo Mendonça, general executive officer of OGX. “This is another very important step in the appraisal phase as we continue to delineate our discoveries in the Campos basin.”

03/23/2011



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