Monday, 19 July 2010

OGX discovers presence of hydrocarbons on block BM-C-40

OGX has made a new discovery while reviewing the column and net pay section of the Albian. The discovery was made in the same section of well 1-RJS-OGX-14, located on block BM-C-40, in the shallow waters of the southern part of Campos Basin, Brazil. OGX is the sole owner of BM-C-40, holding a 100 per cent stake in the block.

The oil producer found presence of hydrocarbons in the Albian section of the well, and has since carried out extensive research including drilling, logging, sampling and pre -tests in order to gain a better a understanding, and identification, of the discovery. The column and the net pay of discovery previously announced were reviewed from 60 to nearly 90 meters, and from 22 to about 35 meters respectively. Additionally, OGX have identified a new oil column of about 55 meters and net pay around 27 meters in carbonate reservoirs.

"The size of discoveries made this well reinforces the importance of our blocks located further north in the Campos Basin. This result is so good that additional drilling in this area became a priority," said OXG General Director, Paulo Mendonça.

To find out more about OGX please visit OGX's web site, which you can find here.

For more news and expert analysis about Brazil, please see Brazil Focus.

© 2010 Menas Associates

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