Nov 24 Formation tests run in the Carcara offshore area by Brazilian oil explorer Queiroz Galvao Exploracao e Producao SA have showed results as promising as the best subsalt discoveries so far, the chief executive of the company said on Tuesday.

A more complete report of the test results are due to be published by the end of the year. (Writing by Reese Ewing; Editing by Chizu Nomiyama)