OGX has identified hydrocarbon presence in the Aptian section of well 1-OGX-15-RJS, located in the BM-C-41 block, in the shallow waters of the Campos Basin. OGX holds a 100% working interest in this block.

Following the recently announced discovery in the Albian section of well OGX-15, the drilling of this well continued to the Aptian section, where carbonate rocks showing the presence of hydrocarbons were encountered in two intervals with net pays of approximately 4 meters and 27 meters. The drilling of the OGX-15 well, also known as the Santa Helena prospect, is still in progress and is expected to continue to a total estimated depth of approximately 3,500 meters.

"The drilling of well OGX-15 has been of great significance to us as it demonstrated the connectivity of the Albian province toward the northern part of the block. With respect to the Aptian section, pressure tests will be conducted in order to verify the connectivity between these reservoirs and those encountered in the OGX-2 and OGX-6 wells," commented Mr. Paulo Mendonça, General Executive Officer of OGX.

The OGX-15 well, located in the BM-C-41 block, is situated approximately 78 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 130 meters. The rig Ocean Ambassador initiated drilling activities there on June 18, 2010.

Tags: OGX Petróleo e Gás Participações S.A.