Marathon has first ultra deepwater oil discovery on block 32 offshore Angola

Marathon Oil Corp. has confirmed that its subsidiary, Marathon Angola Petroleum Ltd., participated in the first deepwater discovery on block 32 offshore Angola. This is Marathon's second deepwater discovery offshore Angola.

Marathon Oil Corp. has confirmed that its subsidiary, Marathon Angola Petroleum Ltd., participated in the first deepwater discovery on block 32 offshore Angola. This is Marathon's second deepwater discovery offshore Angola.

The Gindungo-1 well was drilled in a water depth of 1,445 meters and tested at rates of 7,400 and 5,700 b/d of light oil from two separate zones. This discovery is in the eastern portion of lock 32, about 40 mi from the Girassol field (block 17).

"We are very encouraged by the initial testing of the Gindungo discovery and Marathon will be working with our partners to conduct additional appraisal work to determine its full potential," said Philip Behrman, Marathon senior vice president of Worldwide Exploration. "Gindungo builds upon our success last year with the Plutao discovery on block 31 and reinforces the possibility of a significant new resource base in this area."

Current plans call for one additional exploration or appraisal well in 2003 on block 32. The concessionaire of block 32 is Sonangol, Angola's state- owned oil company. Marathon has a 30% interest in block 32, along with the operator Total 30%, Sonangol 20%, Esso Exploration (block 32) Ltd. 15%, and Petrogal 5%.

In other deepwater activity offshore Angola, Marathon is participating in a well on the Saturno prospect on block 31. This well is near the Plutao discovery and reached total depth in April. One additional exploration well is planned for block 31, which should spud during 3Q 2003. Marathon has a 10% working interest in block 31.

05/15/03

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