OGX has concluded the drillstem test in well OGX-88, in the Bom Jesus accumulation in the PN-T-68 block, within the onshore Parnaíba Basin, Brazil. OGX Maranhão, an entity formed by OGX and MPX, is the operator of the block and holds a 70% stake, while Petra Energia holds the remaining 30%.

The well is the first appraisal well of the Bom Jesus accumulation. The flow rates obtained in this interval, in approximately 30 hours of production, were: 170,000 cu m per day (cu m/d) of gas through a 3/8-in choke; 281,900 cu m/d through a 1/2-in choke; and 491,000 cu m/d through a 3/4-in choke.

Additionally, a low gas condensate ratio was observed, indicating dry gas and demonstrating the similarity of these results with the previously tests carried out in the Gavião Real field.

“The test results gave us even more confidence in Parnaíba Basin's potential, that besides this promising prospect has also the Gavião Real field, which was already declared commercial and will start producing and generating cash in 2013,” commented Luiz Carneiro, CEO of OGX.