OGX PETRÓLEO E GÁS PARTICIPAÇÕES S.A.
CNPJ/MF: 07.957.093/0001-96
Publicly Held Company - BOVESPA: OGXP3
Material Fact
-- OGX Announces the Presence of Hydrocarbons in the Albian Section of OGX-5 Well --
Rio de Janeiro, January 22, 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 Albian section of the well 1-OGX-5-RJS,
located in the BM-C-43 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 130 meters with around 30 meters of net pay was encountered in
carbonate reservoirs. The drilling of OGX-5 is still in progress and is expected to reach a final depth of
approximately 4,300 meters.
"These initial results from well OGX-5 are very encouraging, as they confirm that the high-quality
carbonate reservoirs detected in wells OGX-2 and OGX-3 are also present in the southern reaches of our
blocks", commented Mr. Paulo Mendonça, OGX's General Executive Officer.
The OGX-5 well is located in the BM-C-43 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 Ambassador,
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, then 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