Murphy Australia acquires Browse basin permit

Offshore staff

EL DORADO, Arkansas -- Murphy Australia Oil has acquired a 40% interest in the AC/P36 exploration permit in the Browse basin offshore Northwestern Australia from Finder Exploration. Murphy will become the operator of the permit that covers approximately one million acres. The acquisition is pending approval from the Australian government.

"This acreage acquisition is important as it not only marks our entry into Australia where we see further growth opportunities but complements our existing Southeast Asia position, which is already yielding strong results in Malaysia," says Claiborne P. Deming, Murphy Oil president and CEO.

11/26/2007