OGX Petróleo e Gás Participações has concluded the Cased Hole Drillstem Test in the 1‐OGX‐18‐RJS well, located in the BM‐C‐40 block, in the shallow waters of the Campos Basin. OGX holds a 100% working interest in this block.

“The recent conclusion of another Drillstem Test in this part of the Campos Basin, reaching high productivity levels, represents an important step in the pursuit of knowledge on the reservoirs’ characteristics, with the objective of beginning production as quickly as possible, always applying the best practices within the industry” said Paulo Mendonça, General Executive Officer of OGX.

The OGX‐18 well, Inga prospect, was drilled to a depth of 2,260 meters, resulting in the detection of hydrocarbons in both the sandstone reservoirs of the Santonian section and in the carbonate reservoirs of the Albian section, as previously announced on August 11, 2010. This Cased Hole Drillstem Test was performed in sandstone reservoirs of the Santonian accumulation in order to verify the reservoir’s characteristics under dynamic conditions.

The test was considered conclusive, and the pressure and flow data, as well as permo‐porosity conditions, confirm the potential production of between 8,000 and 12,000 barrels of oil per day in each vertical well and between 25,000 and 35,000 barrels per day in each horizontal well.

This test also allowed the evaluation of the oil gravity which is of 27° API. The static pressures measured were normal with no indication of depletion. This test is an important step for the better understanding of both the reservoir and the development of future production projects in the region.

Ocean Lexington, the rig used in the drilling of the well and in this test, will be mobilized to the well OGX‐2, Pipeline discovery, located in the BM‐C‐41 block, in order to collect additional data concerning the existing reservoirs.

Tags: OGX Petroleo e Gas Participacoes SA