ExxonMobil Announces Pegase Nord Marine-1 Discovery in Deepwater Congo Mer Tres Profonde Sud Block

Business Wire, Sept 20, 2004

IRVING, Texas -- Exxon Mobil Corporation (NYSE:XOM) announced today that its subsidiary, Esso Exploration and Production Congo (MTP Sud), Ltd., has participated in the second oil discovery in the Congo deepwater Mer Tres Profonde Sud Block (MTPS).

The Pegase Nord Marine-1 well was drilled to a total depth of 11,880 feet (3,622 meters) and tested two intervals with a combined rate of 14,360 barrels of oil per day. The well is located approximately 133 miles (200 kilometers) southwest of Pointe Noire in a water depth of 6,600 feet (2,000 meters).

ExxonMobil's subsidiary, Esso Exploration and Production Congo (MTP Sud), Ltd., has a 30 percent interest, along with Total E&P Congo (operator, 40 percent) and ENI Congo, 30 percent.

"This discovery further demonstrates the hydrocarbon potential of the MTPS block," said Tim Cejka, president of ExxonMobil Exploration Company. "Congo remains an important part of our broad West Africa asset portfolio."

ExxonMobil has a leading position in nearly all the major exploration and production areas in the world. The company is also a leading holder of deepwater acreage in the world's most attractive regions, including West Africa where it has interests in 16 blocks totaling almost 11 million gross acres.