OGX Petroleo e Gas has signed the concession agreements with the ANH (Agencia Nacional de Hidrocarburos de Colombia) for the five exploratory blocks acquired in the Open Round Colombia 2010, held on June 22, 2010, in the city of Cartagena, Colombia.

On February 18, 2011, the E&P agreements for blocks VIM-5, in the Lower Magdalena Valley basin and VMM-26, in the Middle Magdalena Valley basin were signed. On March 16, 2011, the Technical Evaluation Agreements (TEA) for blocks CR-2, CR-3 and CR-4, in the Cesar-Ranchería basin were signed. As a result, OGX will commence operations in three new areas of high exploratory potential.

"Signing of these agreements represents our entrance into another exploratory cycle in a new frontier, where we have experience and differentiated knowledge that will be very valuable in helping us make important discoveries", commented Mr. Paulo Mendonça, OGX General Officer.

The Company is in the process of contracting for seismic data and expects to begin its initial exploratory activities in blocks VIM-5 and VMM-26.

Tags: OGX Petróleo e Gás Participações S.A.