The well has confirmed oil-bearing reservoirs in Upper Cretaceous sandstones, but further drilling and analysis will be carried out to determine if the discovery has a positive economic potential.
The notification to ANP is a part of a standard procedure when hydrocarbons have been encountered.
This is the first well drilled in deepwater of the Jequitinhonha Basin, at a water depth of approximately 2300 meters.
The well (well 1-BAS-147) was spudded on October 9th and the drilling is expected to be finished in the beginning of 2009.
The block BM-J-3 was awarded in 2002 as a result of the 4th Brazilian bid Round. The well will be drilled to greater depths in accordance with the approved drilling programme.