11 Mar 2010 - by PreSalt.com - Source: Agencia Petrobras
Petrobras issued the following clarification regarding a story published Wednesday 10/03:
Petrobras (Bovespa: PETR3/PETR4, NYSE: PBR / PBRA, Latibex: XPBR / XPBRA, BCBA: APBR / APBRA) clarifies that announced on Tuesday, November 9, to the National Agency of Petroleum, Natural Gas and Biofuels (ANP) the presence of hydrocarbons (oil and gas) found in well 1-BRSA-594-SPS, in the pre-salt block BM-S-9, north of the Assessment Plan of Guara, in the Santos Basin.
The consortium formed by Petrobras (45% - Operator), Britain's BG (30% - LON:BG, OTC:BRGYY, PINK:BRGYY, PINK:BRGXF) and Spain's Repsol (25% - MCE:REP, NYSE:REP, LI:OJGE, PINK:REPYP, ETR:REPA,NYSE:REP-A, ETR:REP, FRA:REPA, FRA:REP) notified to the ANP the presence of hydrocarbons in the drilling of that well. Notice this is a legal procedure established by the ANP.
This notification does not contain content representative of discovery. The information they found evidence of oil, by itself, has no significant value to the Company's business, according to the imprecision of the results are still pending to be achieved and therefore does not impact on securities trading Petrobras. Therefore, does not require disclosure of news or fact to the market.
Although it is a good thing, is not conclusive. Petrobras remains the exploratory work, evaluating the well with the use of exploratory rig West Polaris to collect more data and evidence. The information will be conclusive when combined with new studies and data collected during testing and, if so, will be widely disseminated by Petrobras to the Securities and Exchange Commission, the regulatory bodies and other stakeholders.
The concession contracts for exploration blocks, signed with the ANP, provide that any evidence of oil, natural gas or other hydrocarbons within the concession area shall be notified to the ANP, exclusively and in writing by the operator.
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