OGX Reports 3Q10 Results

Today announced results for the third quarter ended September 30, 2010. The following financial and operating information is presented on a consolidated basis, in accordance with the International Financial Reporting Standards issued by the International Accounting Standards Board - IASB, in reais, unless stated otherwise.
“During the third quarter, we advanced our drilling campaign, identifying new accumulations in the Campos, Santos and Parnaiba basins, as well as drilled appraisal wells and performed drillstem tests which have contributed to a greater understanding of our assets. The recently announced discoveries in the southern reaches of the Campos basin greatly enhanced our understanding of what is expected to be an important new oil-bearing province. As well, our gas discoveries in the first wells drilled in the Santos and Parnaiba basins confirmed the potential of our blocks there,” commented Paulo Mendonça, General Executive Officer of OGX.
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Source: Sun Herald