This excerpt taken from the PBR 6-K filed Mar 29, 2007.
Discoveries below the salt level
(Rio de Janeiro, March 29, 2007). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that until all evaluation tests are concluded it is impossible to determine the quantity of oil related to (i) the discovery below the salt layer of 30° API light oil in a new exploratory frontier of the Santos Basin, formally announced on October 4, 2006, and (ii) the reservoirs saturated with light oil (approximately 30° API) located under a thick layer of salt in the Campos Basin off the Espirito Santo coast announced on March 2, 2007. The two discoveries constitute two independent structures.
Test results obtained from the delimitation wells of each structure will be announced when available with technical rigor, and filed with the National Petroleum, Natural Gás and Biofuels Agency (ANP) as required by existing legislation.
Contacts: PETRÓLEO BRASILEIRO S. A. PETROBRAS
Investor Relations Department I Raul Adalberto de Campos - Gerente Executivo I E-mail: firstname.lastname@example.org
Av. República do Chile, 65 22nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947
This document may contain forecasts 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: March 29, 2007
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