This excerpt taken from the PBR 6-K filed Nov 13, 2009.
Clarification: Announcement of New Discovery in Angola
Rio de Janeiro, November 12, 2009 Petróleo Brasileiro S.A. - Petrobras, in compliance with Resolution 358 of the Brazilian Securities Exchange Commission (CVM) and in line with the best corporate governance practices, announces, regarding the news issued yesterday by its Press Agency, about a new oil discovery in Block 15/06, in deep Angolan waters, in which it holds 5% stakes via its Petrobras Internacional Braspetro B.V. subsidiary.
The discovery was made in the Cabaça Norte-1 well, which is located about 350 kilometers away from Luanda. This is the second discovery announced for Block 15/06, in which Sonangol E.P. is the concessionaire, and Eni Angola the operator, with 35% of the stakes.
Well Cabaça Norte-1 was drilled at a depth of 500 meters from the water line and reached a total depth of 2,830 meters. In the production tests, the well produced more than 6,500 barrels of oil per day.
The other partners in Block 15/06 are SSI Fifteen Limited (15%), Sonangol P&P (15%), Total (15%), Falcon Oil Holding Angola AS (5%), and Statoil Angola Block 15/06 AS (5%).
This document may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forward-looking statements. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: November 12, 2009
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