you don't want to make a good ann today, page-9

Actually here it is for everyone's convenience.
------------------------------------------------------------


Light oil discovery south of the Santos Basin


Rio de Janeiro, November 16, 2010 - Petroleo Brasileiro SA - Petrobras announces that proved the presence of light oil in well 1-BRSA-870-SPS (1-SPS-76), located south of the Santos Basin, in reservoirs sandy, similar to those found in the area of the accumulations of Tyre and Sidon.

The discovery is located approximately 15 km from the area of Tyre and Sidon. The well is located in the SM-1352 block of Grant BM-S-41, in which Petrobras holds 80% stake, after negotiating rights to 20% of that grant to the company Karoon Oil & Gas SA. This assignment of rights is under review by the National Agency for Oil, Gas and Biofuels (ANP).

This well is located approximately 280 kilometers off the coast of S?o Paulo in a water depth of 400m. Shells are drilled to 2,200 meters deep.

The well drilling continues in order to search for other deeper objectives, even in the post salt.

This finding confirms the appropriateness of the strategy of exploration in search of the formation of a new production hub in the southwest portion of the Santos Basin that could be integrated by a number of fields already discovered, as Caravela, Sea Horse, Coral, Sidon and Tyre as well how to discover, or in the evaluation process, such as the well 1-BRSA-870-SPS Maruj? in the prospectus.