This excerpt taken from the PBR 6-K filed Apr 9, 2009.
Discovery in Corcovado-1
(Rio de Janeiro, April 8, 2009). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, informs that the BG Group announced today it has discovered evidences of oil in the pre-salt layer in the BM-S52 block (Santos Basin). This discovery had been announced during the drilling of the well 6-BG-6P-SPS, know as Corcovado-1, located 130 km from the cost of the state of São Paulo, in a water depth of 800 meters.
The Consortium, formed by Petrobras (60%) and BG Group (40% - operator during the exploratory phase), plans to continue drilling the Corcovado-1 and also drill another well in 2009, seeking to increase the knowledge about the area and to fulfill the commitment that was taken on with National Petroleum Agency (ANP).
In the case of the declaration of the commerciality, Petrobras will be the operator of the Consortium during the production phase.
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: April 8, 2009
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