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Canario wildcat offshore Brazil comes up dry

Offshore staff

RIO DE JANEIRO – Panoro Energy ASA (OSE:PEN) says drilling is complete at well 1-VBEP-2-SPS, called Canario, offshore Brazil in block S-M-1036 of the Santos basin, and preliminary results indicate no hydrocarbons.

The well was drilled to 4,450 m (14,596 ft) in 200 m (656 ft) of water 230 km (143 mi) offshore Santos, São Paulo. Panoro is evaluating drilling results and the GSF Arctic I rig is moving to drill the Jandáia prospect.

Panoro holds a 15 % working interest in this block and its partners are Vanco Brasil Exploração e Produção de Petróleo e Gas Natural Ltda (Operator 70%) and Brasoil Round 9 Exploração Petrolífera Ltda (15%).

10/26/2012

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