OGX has identified an oil bearing interval in the aptian section on the well 1-OGX-2A-RJS, located in the BM-C-41 block, in the shallow waters of southern part of the Campos Basin. OGX holds a 100% working interest in this block.
Oil shows in the cuttings and log analysis of the well OGX-2A, indicate an oil column of 170 meters and net pay around 50 meters. The reservoirs are conglomerates, sandstones and carbonates, with up to 20% porosity. The drilling of OGX-2A is still in progress aiming at additional targets.
"The presence of these oil bearing reservoirs in the aptian section confirmed our model for this area", commented Mr. Paulo Mendonça, OGX's General Executive Officer. "Our results so far give us further confidence that we have found a new oil province in the southern part of Campos Basin", added Mendonça.
The well is located in the BM-C-41 block and is situated approximately 77 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 130 meters. The rig Ocean Ambassador, provided by Diamond Offshore, initiated the drilling activities on October 22nd, 2009.
