Petrobras (PBR)

Well 4-ESS-175-ES

(Rio de Janeiro, June 8, 2007). – 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 well 4-ESS-175-ES (ANP reference: 4-BRSA-449-ESS), drilled in Pirambu Field, has found deeper reservoirs saturated with light oil (nearly 29° API) positioned on the pre-salt section, with a total thickness of 60 meters, which presented a production of approximately 1,250 barrels/day in the drill stem test performed in cased vertical hole, in a water depth of 1,270 meters and final of 4,751 meters). This result confirms the potentiality of this producer interval.

This well is located in the old block BC-60, on the shore of the state of Espírito Santo, at nearly 125 km south of the city of Vitória, and integrates the PIRAMBU field, which had already discovered oil in Tertiary reservoirs and is located at the north portion of the Campos Basin. The discovery was detected during the works developed on the Discovery Evaluation Plan of the well 1-ESS-121-ESS in area operated by Petrobras, which owns 100% of the concession. This field’s Declaration of Commerciality was sent to the National Petroleum Agency (ANP) in December 2006.

Additional studies will need to be developed, aiming a better assessment of the available reservoirs in this new field.

www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S. A. – PETROBRAS
Investor Relations Department I Raul Adalberto de Campos - Gerente Executivo I E-mail: petroinvest@petrobras.com.br
Av. República do Chile, 65 – 22^nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947

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