Results of appraisal well confirm extension of Carcará discovery

Offshore Brazil, Barra Energia do Brasil Petróleo e Gás Ltda says that the well 3-SPS-105 (3-BRSA-1290-SPS), known as Carcará North, currently being drilled to assess the continuity of the high-quality and thick pre-salt reservoirs encountered in the Carcará discovery well (4 SPS 86B), established the presence of at least 358 meters of continuous and connected oil bearing reservoirs with good-quality light oil (31º API) from 5,820 meters.

Up to the current depth of 6,178 meters, the porosity, permeability and pressure characteristics found in this well are very similar to those measured in the Carcará discovery well, showing that they are in the same accumulation.

The well is located 229 kilometers from the coast of São Paulo State and 4.6 kilometers to the north of the discovery well, in the offshore Santos Basin BM-S-8 Block and water depth of 2,072 meters. The current bottom of the well is still within the oil bearing pre-salt reservoir section, and no indications of the oil/water contact have been encountered so far. Once drilling operations are resumed, it is expected that the well will reach a total depth of 6,430 meters.

After drilling the current well, the rig will re-enter the appraisal well 3-SPS-104DA, informally known as Carcará NW, located approximately 6 kilometers to the northwest of the Carcará discovery well. Carcará NW had already been drilled to the base of the salt when it was temporarily suspended, as planned, to be concluded later using a rig equipped with managed-pressure drilling to penetrate the pre-salt reservoirs.

Upon conclusion of the two appraisal wells, it will be possible to further delineate the areal extension of the Carcará discovery within Block BM-S-8. Furthermore, a drillstem test (DST) is being planned for the second semester of 2015 in the well Carcará N which will provide information about the productivity of the Carcará reservoirs.

Barra Energia holds 10% of interest in this block, having as partners Petrobras (operator of the consortium) with 66%, Petrogal Brasil (14%) and Queiroz Galvão Exploração e Produção S.A. (10%).


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