OGX PETRÓLEO E GÁS PARTICIPAÇÕES S.A.
CNPJ/MF: 07.957.093/0001-96
Publicly Held Company - BOVESPA: OGXP3
Material Fact
-- OGX Announces Presence of Hydrocarbons in the Eocene Section of OGX-4
Well--
Rio de Janeiro, January 11, 2009 OGX Petróleo e Gás Participações S.A. ("OGX") (Bovespa:
OGXP3, OTC: OGXPY), the largest Brazilian private sector oil and gas company in terms of
offshore exploratory acreage, announced today that it has identified an oil-bearing interval in
the Eocene section of the well 1-OGX-4-RJS, located in the BM-C-42 block, in the shallow
waters of the southern part of the Campos Basin. OGX holds a 100% working interest in this
block.
An oil column of approximately 90 meters with around 17 meters of net pay was encountered
in sandstone reservoirs characterized by excellent levels of permo-porosity. The drilling of
OGX-4 is still in progress and is expected to reach a final depth of approximately 3,400 meters.
"This discovery demonstrates once more the efficiency of the petroleum system in this
portion of the Campos Basin, as well as the success of our exploratory strategy for this area",
commented Mr. Paulo Mendonça, OGX's General Executive Officer.
The OGX-4 well is located in the BM-C-42 block and is situated approximately 79 kilometers
off the coast of the state of Rio de Janeiro at a water depth of approximately 150 meters. The
rig Ocean Quest, provided by Diamond Offshore, initiated the drilling activities on December
26, 2009.
ABOUT OGX
OGX Petróleo e Gás SA is focused on oil and natural gas exploration and production in Brazilian
offshore sedimentary basins and is Brazil's largest private sector oil and gas company in terms
of offshore exploration area, with approximately 7,000 km², as well as 21,500 km² onshore
area. OGX has a high potential and diversified portfolio, composed of 29 exploratory blocks in
the Campos, Santos, Espírito Santo, Pará-Maranhão and Parnaíba Basins. OGX relies on an
experienced management team and holds a solid cash position, with more than US$4 billion in
cash to fund its E&P investments and new opportunities. In June 2008, the company went
public raising R$6.7 billion, the largest amount ever raised in a Brazilian primary IPO. OGX is a
member of the EBX Group, an industrial group founded and under the leadership of Brazilian
entrepreneur Eike F. Batista, who has a proven track record in developing new ventures in the
natural resources and infrastructure sectors. For more information, please visit the website
www.ogx.com.br/ri
LEGAL NOTICE
This document contains Company-related statements and information that reflect the current
vision and/or expectations the Company and its management have regarding its business
plan. These include, among others, all forward-looking statements that involve forecasts and
projections, indicate or imply results, performance or future achievements, and may contain
words such as "believe," "foresee," "expect," "consider," "is likely to result in" or other words
or expressions of similar meaning. Such statements are subject to a series of expressive risks,
uncertainty and premises. Please be advised that several important factors can cause the
actual results to diverge materially from the plans, objectives, expectations, estimations, and
intentions expressed in this document. In no event shall the Company or the members of its
board, directors, assigns or employees be liable to any third party (including investors) for
investment decisions or acts or business carried out based on the information and statements
that appear in this presentation, or for indirect damage, lost profit or related issues. The
Company does not intend to provide to potential shareholders with a revision of the
statements or an analysis of the differences between the statements and the actual results.
You are urged to carefully review OGX's offering circular, including the risk factors included
therein. This presentation does not purport to be all-inclusive or to contain all the information
that a prospective investor may desire in evaluating OGX. Each investor must conduct and rely
on its own evaluation, including of the associated risks, in making an investment decision.
Contatos OGX
Investidores:
Marcelo Torres,
marcelo.torres@ogx.com.br
Luiz Garcia,
luiz.garcia@ogx.com.br
Juliana Schmith,
juliana.schmith@ogx.com.br
+55 21 2555 6237
Mídia:
Camila Manfredini,
camila.manfredini@ogx.com.br
+55 21 2555 4673