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refers to ogg vorbis in case of audio streams, a newer compression format thats generally supposed to beat mp3 (quality/size). its totally free for private or commercial use, also open source code. currently the engine is in rc3 status, and it allows you to encode in (abr, cbr and) quality based vbr mode as well.
you may also bump into .ogm extensions, which refer to a video stream (and other streams maybe, too) in an ogg container (that can hold up to 255or6 channels).
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