This excerpt taken from the PBR 6-K filed Jan 26, 2009.
Discovery of Important Gas Accumulations
(Rio de Janeiro, January 26, 2009). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces the discovery in shallow waters at the southern end of the Santos Basin, in the state of São Paulo, of a thick gas column in reservoirs above the post-salt section as a result of drilling of exploratory well 6-BRSA-661-SPS (6-SPS-53) by the Consortium established by Petrobras (63% - Operator) and Repsol (37%) to explore Block BM-S-7,
The well is located about 210 km southeast of the city of Santos, off the coast of the state of São Paulo in a water depth of 214 m (see below). Approved by the ANP (the National Petroleum, Natural Gas and Biofuels Agency), this drilling is part of exploratory activities in accordance with the Evaluation Plan at well 1-BSS-68 where natural gas had been identified in post-salt section reservoirs.
The find was confirmed through cable tests conducted in the sandstone reservoirs situated at a minimum depth of 3,970 meters.
The Consortium is to proceed with its exploratory activities through formation testing to be executed at levels where gas has already been found, thus making it possible to assess the commercial viability of this discovery.
This find is of major importance due to the potential for gas production in the shallow offshore area of the southern Santos Basin.
Este documento pode conter previsões que refletem apenas expectativas dos administradores da Companhia. Os termos antecipa, acredita, espera, prevê, pretende, planeja, projeta, objetiva, deverá, bem como outros termos similares, visam a identificar tais previsões, as quais, evidentemente, envolvem riscos ou incertezas previstos ou não pela Companhia. Portanto, os resultados futuros das operações da Companhia podem diferir das atuais expectativas, e o leitor não deve se basear exclusivamente nas informações aqui contidas.
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: January 26, 2009
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