OGX Petróleo e Gás, reported the presence of hydrocarbons in the Albian section of well 1‐OGX‐28D‐RJS, which is located in the BM‐C‐41 block, in the shallow waters of the Campos Basin. OGX holds a 100% working interest in this block.

“This discovery reinforces the significant extent of the carbonate platform in the Albian section found in the south of the Campos basin”, commented Paulo Mendonça, General Executive Officer of OGX. “The year of 2011 will see the continuation of the exploratory campaign, with drilling in new frontiers and important advances in the delineation of our discoveries, as well as initial production”, added Mr. Mendonça.

A hydrocarbon column of about 52 meters with approximately 24 meters of net pay was encountered in carbonate reservoirs in the Albian section. The drilling of the OGX‐28D well, a prospect known as Illimani, is still in progress and is expected to reach an estimated final depth of 3,700 meters.

The OGX‐28D well is located in the BM‐C‐41 block and is situated about 80 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 126 meters. The rig, Ocean Star, initiated drilling activities there on December 28, 2010.

Tags: OGX Petróleo e Gás Participações S.A.