This excerpt taken from the PBR 6-K filed Nov 6, 2009.
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.
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 forecasts. 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 6, 2009
This press release 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 are not based on historical facts and are not assurances of future results. These forward-looking statements are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.