Who is OGX!
OGX is part of the EBX Group, an industrial group founded and under the leadership of Brazilian entrepreneur Eike F. Batista, who has a proven track record in the development of new ventures in the natural resources and infrastructure sectors.
OGX is the largest Brazilian private sector oil and natural gas company in terms of offshore exploratory acreage, with concessions blocks covering approximately 7,000 km2 (1.7 million acres) acquired on the Ninth Bidding Round held by ANP.
Since its inception, in June 2007, OGX has established a leading position in the Brazilian oil and natural gas exploration and production sector by acquiring a diversified portfolio of high potential exploration blocks.
In November 2007, OGX raised U.S.$1.3 billion in an equity private placement, providing capital to purchase concession rights in the Ninth Big Round, held by ANP (Brazilian National Petroleum Agency). In this round, OGX acquired concessions rights to 21 exploratory blocks in the Campos, Santos, Espírito Santo and Pará-Maranhão basins, comprising a total area of 6.4 thousand squared km.
Planning to pursue additional growth opportunities, OGX has entered into a farm-in agreement for a 50% participating interest in an exploration block in the Santos Basin totaling 6.8 thousand squared km of offshore exploratory acreage.
In June, 2008, OGX held its Initial Public Offering (IPO) whereby approximately R$ 6.7 billion were raised in a 100% primary offer, representing the largest IPO ever in Brazil. The resources will be used to fund OGX’s exploration campaign and initial production development.
OGX has engaged DeGolyer & MacNaughton, a leading consultant in reserve certification for the oil and natural gas industry with over 70 years of experience, to prepare an appraisal report. Based on information derived from this report, its exploration blocks contain prospective resources of 20.180 billion barrels of oil and natural gas and net risked prospective resources of 4.835 billion boe.
The OGX’s net risked prospective resources are assuming a probability of exploratory success of 27%. However, the exploration team of OGX believes that the average success rate can be closer to 50%.
ALL RIGHTS RESERVED TO OGX.
www.ogx.com.br/cgi/cgilua.exe/sys/start.htm?tpl=home&lng=us
OGX is part of the EBX Group, an industrial group founded and under the leadership of Brazilian entrepreneur Eike F. Batista, who has a proven track record in the development of new ventures in the natural resources and infrastructure sectors.
OGX is the largest Brazilian private sector oil and natural gas company in terms of offshore exploratory acreage, with concessions blocks covering approximately 7,000 km2 (1.7 million acres) acquired on the Ninth Bidding Round held by ANP.
Since its inception, in June 2007, OGX has established a leading position in the Brazilian oil and natural gas exploration and production sector by acquiring a diversified portfolio of high potential exploration blocks.
In November 2007, OGX raised U.S.$1.3 billion in an equity private placement, providing capital to purchase concession rights in the Ninth Big Round, held by ANP (Brazilian National Petroleum Agency). In this round, OGX acquired concessions rights to 21 exploratory blocks in the Campos, Santos, Espírito Santo and Pará-Maranhão basins, comprising a total area of 6.4 thousand squared km.
Planning to pursue additional growth opportunities, OGX has entered into a farm-in agreement for a 50% participating interest in an exploration block in the Santos Basin totaling 6.8 thousand squared km of offshore exploratory acreage.
In June, 2008, OGX held its Initial Public Offering (IPO) whereby approximately R$ 6.7 billion were raised in a 100% primary offer, representing the largest IPO ever in Brazil. The resources will be used to fund OGX’s exploration campaign and initial production development.
OGX has engaged DeGolyer & MacNaughton, a leading consultant in reserve certification for the oil and natural gas industry with over 70 years of experience, to prepare an appraisal report. Based on information derived from this report, its exploration blocks contain prospective resources of 20.180 billion barrels of oil and natural gas and net risked prospective resources of 4.835 billion boe.
The OGX’s net risked prospective resources are assuming a probability of exploratory success of 27%. However, the exploration team of OGX believes that the average success rate can be closer to 50%.
ALL RIGHTS RESERVED TO OGX.
www.ogx.com.br/cgi/cgilua.exe/sys/start.htm?tpl=home&lng=us
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