1Q11 Highlights and Subsequent Events OGX Portfolio D&M reports with new estimates for the Campos and Parnaba Basins and estimates for the three Colombian basins Portfolio update New and important discoveries in Campos Basin…
FINANCIAL RESULTS HIGHLIGHTS
1Q11 Financial Results MAIN ACCOUNTS- IFRS Net Financial Results: Impact of interest income, net losses Financial Statements on hedging of future commitments in foreign currency and R ('000) 1T11 1T10 negative impact of…
Cash Position CASH POSITION EVOLUTION CASH ALOCATION R billion US billion Allocation by Institution 5,0 3,0 BTG Pactual 7% CS 4,0 7% 2,5 Safra 7% Others 8% 3,0 2,0 Santander ABC 2,0 Votorantim 14% 3% 3% Socit 1,5 2% 1,0…
OGX PORTFOLIO
OGX Main Take Aways From D&M Reports Portfolio de-risking through the conversion of prospective resources into contingent and delineation resources 3.0 billion boe of 3C contingent resources in the Campos Basin 1.3 billion boe of…
Campos Basin NET RESOURCES FOR OGX 1.4 bn bbl 5.7 bn bbl 1.3 bn bbl 3.0 bn bbl 3C = 3.0 Delineation Prospective Total 2C = 0.7 Resources Campos Basin 1C = 0.1 2011 2013: INTENSIVE APPRAISAL CAMPAIGN TO CONVERT…
Campos Basin: OGX-26 Defined Production Concept PRODUCTION CONCEPT Horizontal Well (OGX-26) already drilled and successfully tested Well completed and wet christmas tree installed Buoy anchor system and flexible lines OSX - 1…
Campos Basin: Equipment Secured CRITICAL EQUIPMENT AND SERVICES STATUS MAIN EQUIPMENT IN PLACE Equipment FPSO OSX-1 80 kbpd of processing Wet Christmas Tree (WCT): Already installed capacity & 950 ,000 barrels of storage capacity…
Ordered Production Equipment FPSOs WHPs OSX-1: OSX-2: OSX-3: Production capacity of 80 Production capacity of Production capacity of Kbpd and storage of 950 100 kbpd and storage of 100 kbpd and storage of Kbbl 1.3 Mbbl 1.6 Mbbl…
Subsequent Events: 2011 Beginning of production in 2S11 through an EWT in the Waimea accumulation (OGX-26) Increase of appraisal campaign in the Campos, Santos and Parnaba Basins Beginning of the drilling campaign in the…
FINANCIAL RESULTS
Consolidated Balance Sheet (R000) BALANCE SHEET IFRS ASSETS 03/31/2011 12/31/2010 LIABILITIES 03/31/2011 12/31/2010 Current Assets 4,378,194 5,083,508 Current Liabilities 774,038 736,978 Cash and cash equivalents 4,084,115 4,788,166…
Consolidated Financial Statements (R000) FINANCIAL STATEMENTS IFRS DRE 1Q11 1Q10 Operating Income (Expenses) (75,732) (87,949) Exploration Expenses (32,293) (23,414) General and administrative expenses (43,439) (64,535)…