OGX hits again off Brazil

Offshore staff

RIO DE JANEIRO -- OGX Petróleo e Gás Participações S.A. has found hydrocarbons in the Albian-Cenomanian section of well 1-OGX-25-RJS in the shallow waters of the BM-C-39 block of Santos basin offshore Brazil.

A 125 m (410 ft) section showed hydrocarbons with approximately 116 m (381 ft) of net pay was in Albian-Cenomanian carbonate reservoirs. OGX-25 well, a prospect known as Waikiki, is the first drilled in the BM-C-39 and is north of the recent discoveries made by OGX in the Campos basin. The drilling is still in progress and is expected to reach an estimated final depth of 3,000 m (9,842 ft).

The OGX-25 well is 94 km (58 mi) off the coast of the state of Rio de Janeiro at a water depth of approximately 105 m (344 ft). The Pride Venezuela initiated drilling there on Nov. 14, 2010.

12/09/2010