Second Quarter Highlights and Subsequent Events Commenced drilling of eight wells in the Campos, Santos and Parnaba basins, OGX11D Exploratory to OGX18; Campaign New discoveries and commencement of the delineation process in the…
Financial Results
2Q10 Financial Results Adoption of the International Financial Reporting Main Accounts Standards (IFRS) Standards (IFRS) 2Q10 2Q09 1H10 R thousand Net Financial Results: impacted by interest income, losses Net Financial Result 135,547…
2Q10 Financial Results Cash Position Evolution Allocation by Institution Solid cash position of R6.1 billion, or US3.4 billion, Average cumulative gross return equivalent to 105.05% 105 05% of enough to support all the exploratory…
Insurance Program Offshore Program OGX secured improved terms in its insurance program for future upstream operations; Company carried out a mid-term review of its insurance program resulting in US 1.5 million estimated savings for…
Exploratory Campaign
Important Progress in the Exploratory Campaign Campos Santos Parnaba Concluded drilling activities in 12 wells operated by OGX1 OGX2A OGX and 1 operated by Maersk since our OGX3 OGX4 MRK2A exploratory campaign inception…
Campos Basin Campos North Two drilled wells, with discoveries in the BMC40 block, one already concluded (OGX14) and the other one in progress (OGX 18), that could indicate a new province of great importance Campos South…
Santos and Parnaba Basins Santos Basin Two wells in progress: OGX11D Two wells in progress: OGX 11D (Natal) and OGX (Natal) and OGX17 17 (Belm) (Belm) Identification of liquid hydrocarbons and associated gas with API of…
Expansion of Exploration Beyond Brazils Borders : Colombia CesarRanchera: Acquisition of five exploratory blocks in three three high potential onshore basins d ring the Open Ro nd onshore basins during the Open Round blocks, close to…
Appendix
Consolidated Balance Sheet R000 In accordance with IFRS Assets 6/30/2010 12/31/2009 Liabilities 6/30/2010 12/31/2009 Current Assets 6,363,892 7,564,268 Current Liabilities 424,495 581,406 Cash and cash equivalents 6,110,919…
Consolidated Income Statement R000 In accordance with IFRS 2Q10 2Q09 1H10 Operating income (expenses) Exploration expenses (25,252) (12,594) (48,666) General and administrative expenses (57,120) (52,896) (121,655) Equity…
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