Oleo e Gas gives first monthly production figures at Tubarao Martelo

• Brazil's Oleo e Gas Participacoes (OTCPK:OGXPY, OTC:OGXPF) says its only working oil field, Tubarao Martelo, off the coast of Rio de Janeiro, produced 333K boe in December.
• At the end of the month, the field was producing ~12.6K bbl/day, still far short of the ~30K the company hopes to achieve when at full production.
• "The fact that they were able to produce was positive, [but] it's not enough to regain market confidence," says a local analyst.