Petrobras – Investor Relations


Investor Relations

Clarification: Announcement of New Discovery in Angola

Rio de Janeiro, November 12, 2009 – Petróleo Brasileiro S.A. - Petrobras, in compliance with Resolution 358 of the Brazilian Securities Exchange Commission (CVM) and in line with the best corporate governance practices, announces, regarding the news issued yesterday by its Press Agency, about a new oil discovery in Block 15/06, in deep Angolan waters, in which it holds 5% stakes via its Petrobras Internacional Braspetro B.V. subsidiary.


The discovery was made in the Cabaça Norte-1 well, which is located about 350 kilometers away from Luanda. This is the second discovery announced for Block 15/06, in which Sonangol E.P. is the concessionaire, and Eni Angola the operator, with 35% of the stakes.


Well Cabaça Norte-1 was drilled at a depth of 500 meters from the water line and reached a total depth of 2,830 meters. In the production tests, the well produced more than 6,500 barrels of oil per day.


The other partners in Block 15/06 are SSI Fifteen Limited (15%), Sonangol P&P (15%), Total (15%), Falcon Oil Holding Angola AS (5%), and Statoil Angola Block 15/06 AS (5%).


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