OGX hits pay with Campos basin well

OGX Petróleo e Gás Participações has hit pay with the 1-OGX-2A-RJS well in the block BM-C-41 in the Campos basin. OGX holds a 100% working interest in the block.

Offshore staff

RIO DE JANIERO -- OGX Petróleo e Gás Participações has hit pay with the 1-OGX-2A-RJS well in the block BM-C-41 in the Campos basin. OGX holds a 100% working interest in the block.

The Ocean Ambassador drilled the well to a depth of 3,550 m (11,647 ft), finding hydrocarbons in the Eocene, Upper Cretaceous, Albian, Aptian, and Barremian reservoirs. The company has completed wireline pretests and sampling, final logging, and sidewall coring to refine existing information and obtain additional data.

Based on 3D seismic data interpretation, OGX estimates a recoverable oil volume for all reservoirs of between 1 and 2 Bbbl. The tests confirmed the presence of high quality carbonate reservoirs. Preliminary analysis indicates lighter oil in the deeper reservoirs, the company says.

12/23/2009

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