This excerpt taken from the PBR 6-K filed Dec 29, 2005.
Oil Discovery at deeper geologic layers at Campos Basin
(Rio de Janeiro, December 28, 2005). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA], a Brazilian international energy company, announces that today confirmed the discovery of a new oil accumulation in the Marlim Leste field, at Campos Basin. This discovery is important not alone because it may contribute for the increase of the reserves of oil and gas, but, mainly, for being located in deeper geologic layers, opening a new exploratory frontier in Campos Basin. The discovery inaugurates a new exploratory model, which may result in other discoveries of lighter and better quality oil.
The discovery is located 120 kilometers of the coast and 188 kilometers from the city of Macaé, in a water depth of 1,350 meters. The finder well evidenced a column of 300 meters of 28º API oil, lighter than found so far in Marlim Leste field. The accumulation is located at 4,200 meters, superior depth than the average of Campos Basin, which is approximately 3,000 meters. Although the potential of the area is still in evaluation phase, it was confirmed good productivity for the type of reservoir where the oil is accumulated.
Petróleo Brasileiro S.A PETROBRAS
Investor Relations Department
Raul Adalberto de Campos Executive Manager
Av. República do Chile, 65 - 22nd floor
20031-912 Rio de Janeiro, RJ
(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: December 28, 2005
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