Petrobras (PBR)

Clarification about News: Activities in Peru

Rio de Janeiro November 6, 2009 – Petróleo Brasileiro S.A. - PETROBRAS, whishes to clarify about the news published yesterday by the international press related its activities of exploration in Peru.

The Company confirms that it finished the drilling of the first well (Urubamba 1X) of the Block 58, located in the province of Cusco and operated by Petrobras, which withhold 100% of the concession. The depth reached was four thousand meters and the tasks of electric persiflage had been concluded recently. The samples are under analysis phase so that the commerciality of the well can be confirmed and the estimation of natural gas volume can be calculated. The expectation is that the analyses must been finalized in the following weeks and that the conclusion will point out to the commerciality of the Block.

The exploratory program of the Block 58 still considers the drilling of a second well (Picha 1X), programmed to occur in 2010, and that it will have to reach deeper objectives.

Petrobras clarifies that all the relevant information on its exploration activities in Peru will be informed to the market as soon as been confirmed, following the disclosure policy of the Company.

www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S. A. – PETROBRAS
Investor Relations Department I E-mail: petroinvest@petrobras.com.br / acionistas@petrobras.com.br
Av. República do Chile, 65 – 22^nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947

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