2010 Highlights and Subsequent Events Largest private sector exploratory campaign in Brazil A total of 43 wells drilled in 18 months with an overall success rate of over 90% in the shallow waters of the Campos and d Santos basins b…
Financial Results
2010 Financial Results Net Financial Results: Impact of interest income and Main Accounts - IFRS the positive impact of markingtomarket the fair value Financial Statements of financial instruments offset by losses on hedging R (000)…
2010 Financial Results R billion Cash Position Evolution US billion 6.0 4.0 Solid cash position of R4.8 billion, or US2.9 billion, to 5.0 support the exploratory commitments and the beginning of 4.0 3.0 production 30 3.0…
Exploratory Campaign Highlights
Campos Basin Summary 7 shallow water blocks in South C Campos (lower cost & faster (l &f execution) 31 drilled wells: 28 concluded and 3 in progress and 3 in progress 100% success ratio and multi layer discoveries Focus…
OGX26: First Production Well OGX will begin production by 3Q11 with an extended well test (EWT) in the Waimea extended well test (EWT) in the Waimea accumulation (OGX26) producing up to 20,000 barrels per day OGX 26 i l t d i th…
Campos Basin: OGX26 Defined Production Concept and Equipment Secured and Equipment Secured Production Concept Critical Equipment and Services Status Equipment Horizontal Well (OGX26) already drilled and successfully tested Wet…
Santos Basin: Intensification of the Drilling Campaign Important discoveries identifying liquid hydrocarbons and gas Relevant discoveries in three wells drilled in 2010: OGX30 OGX11 (Natal): 75m net pay in the sandstone reservoirs in…
Parnaba Basin: Evidence of High Potential Gas Volumes OGX34 OGX16 Highlights Mapped 20 additional prospects in the region OGX22 Increased the expected number of wells to be drilled from 7 to 15 during the p g exploratory…
Important 2011 Milestones Beginning of the drilling campaign in the ParMaranho Basin in the shortterm New D&M report for the Campos and Parnaba basins, evaluating contingent and prospective resources First oil at Waimea in…
Appendix
Consolidated Balance Sheet R000 In accordance with IFRS Assets 12/31/2010 12/31/2009 Liabilities 12/31/2010 12/31/2009 Current Assets 5,083,508 7,564,267 Current Liabilities 736,978 581,406 Cash and cash equivalents 4,080,107 6,633,787…
Consolidated Income Statement R000 In accordance with IFRS 2010 2009 Operating income (expenses) Operating income (expenses) Exploration expenses (97,841) (97,914) General and administrative expenses (319,072) (229,480)…
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