OGX announces that, based on tests completed at well 1-OGX-11D-SPS, it has concluded that the previously announced discovery of hydrocarbons at the Natal prospect, in the Santos Basin, refers to an accumulation of liquid hydrocarbons with associated gas.
“The discovery of liquid hydrocarbons in sandstone reservoirs presenting high permo-porosity indicates an even higher attractiveness to the project than previously anticipated”, commented Paulo Mendonça, General Executive Officer of OGX.
Following the announcement released on May 24, 2010, mentioning evidence of hydrocarbons, gas and condensate in the Santonian section of well OGX-11D, new studies including logging tests, lateral core sampling, pre-tests and a cable test have been conducted, which led to the conclusion that the discovery refers to an accumulation of liquid hydrocarbons with associated gas.
The total oil column and net pay identified in the sandstone reservoirs of the Santonian section have increased to approximately 180 meters from 42 meters and 75 meters from 34 meters respectively, exhibiting excellent levels of permo-porosity. The liquid hydrocarbons encountered are of high quality, with an API of approximately 41°. The drilling of the well is still in progress and is expected to continue to a final depth of 6,100 meters, targeting deeper objectives.
The well, located in the BM-S-59 block, is situated 104 kilometers off the coast at a water depth of approximately 170 meters. The rig, Ocean Quest, provided by Diamond Offshore, initiated drilling activities on April 9, 2010. OGX holds a 100% working interest in this block.
