Feb. 12 (Bloomberg) -- OGX Petroleo & Gas Participacoes SA, the oil explorer controlled by Brazilian billionaire Eike Batista, found traces of oil in an offshore well in the C-M-592 block of Brazil’s Campos Basin.
The discovery in well 3OGX72RJS hasn’t yet been declared commercially viable, according to a posting on the website of Brazil’s National Petroleum Agency. OGX controls 100 percent of the well.
--Editor: Joe Sabo.
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