“Ocean Ambassador” e “Ocean Lexington” OGX PETRÓLEO E

OGX: Afretamento das unidade de perfuração semi-submersível - “Ocean Ambassador” e “Ocean Lexington”
OGX PETRÓLEO E GÁS PARTICIPAÇÕES S.A.
CNPJ/MF: 07.957.093/0001-96
Publicly Held Company - BOVESPA: OGXP3
Material Fact
OGX PETRÓLEO E GÁS PARTICIPAÇÕES S.A. (“OGX” or “Company”), in compliancewith article 157 of Law
6,404/76 and CVM Instruction 358/2002, hereby announces to its shareholders and to the market as follows:
TheCompany's subsidiary OGX Petróleo e Gás Ltda., has entered into anagreement with Diamond Offshore Netherlands
B.V, a subsidiary ofDiamond Offshore Drilling, Inc.
(“Diamond”) regarding thecharter of two semi-submersible drilling rigs named “Ocean Ambassador”and “Ocean
Lexington” (“Rigs”). Diamond is one of the largest offshoredrilling rigs suppliers in the world, with strong presence in
Braziland more than 30 years of experience in the country. The “OceanLexington” Rig is equipped to operate in water
depths of up to 610m andcan drill up to 6,100 m deep. The “Ocean Ambassador” Rig is equipped tooperate in water
depths of up to 335m and can drill up to 6,100m deep.
OGX will charter each Rig for a period of 3 years. The Rigswill commence OGX’s exploratory campaign in the Campos
Basin, startingin the second half of 2009, as originally planned. The Company takesthis opportunity to inform that, with
the execution of this agreement,it has terminated negotiations with Queiroz Galvão Óleo e Gás Ltda. for the charter of the
drilling unit named Alaskan Star.
TheCompany is currently in advanced negotiations to hire up to twoadditional drilling rigs, which it expects to conclude in
the upcomingmonths. The Ocean Ambassador and Ocean Lexington Rigs, together withthe other rigs under negotiation,
will allow the Company to completeits entire exploratory campaign.
Rio de Janeiro, August 1st 2008.
Marcelo Faber Torres
Diretor Financeiro e Diretor de Relações com Investidores
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