* OGX says finds signs of oil in offshore block
(Changes dateline, recasts, adds details, background)
RIO DE JANEIRO Dec 18 Brazilian oil and gas
company OGX (OGXP3.SA) said on Friday it found oil off Brazil's
coast in the BM-C-41 block in the southern Campos Basin, near
another recently announced crude discovery.
OGX Petroleo e Gas Participacoes said it found traces of
hydrocarbons in the 1-OGX-3-RJS well in shallow waters of the
Campos Basin, where Brazil currently produces most of its oil.
The company reported on Dec. 4 that it had found a 50-meter
(164-foot) column of hydrocarbons with net pay of 15 meters
from a well in the same block. OGX is the sole owner of the
exploration and production concession for that block.
OGX is part of the EBX energy and infrastructure
conglomerate owned by Brazilian billionaire Eike Batista. It
went public last year in what was, at that time, Brazil's
biggest initial public offering.
The company has made a string of oil discoveries in recent
months, helping its shares roughly triple in value since the
beginning of 2009.
Brazil hopes to become a key world oil producer after the
discovery in 2007 of huge crude reserves deep below the ocean
floor in an area known as the subsalt province which could
contain as much as 50 billion barrels.
(Reporting by Brian Ellsworth and Elzio Barreto; Editing by