Petrobras – Investor Relations

Petrobras

Investor Relations

Discoveries below the salt level

(Rio de Janeiro, March 29, 2007). – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that until all evaluation tests are concluded it is impossible to determine the quantity of oil related to (i) the discovery below the salt layer of 30º API light oil in a new exploratory frontier of the Santos Basin, formally announced on October 4, 2006, and (ii) the reservoirs saturated with light oil (approximately 30° API) located under a thick layer of salt in the Campos Basin off the Espirito Santo coast announced on March 2, 2007. The two discoveries constitute two independent structures.
 
Test results obtained from the delimitation wells of each structure will be announced when available with technical rigor, and filed with the National Petroleum, Natural Gas and Biofuels Agency (ANP) as required by existing legislation.

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