Drilling Completed on Guarani Well

NEW YORK--(Business Wire)--
Hess Corporation (NYSE:HES) announced today that the Guarani appraisal well on
the BM-S-22 license in the Santos Basin offshore Brazil has been completed and
no discovery notice was filed. Hess` share of the well cost will be expensed in
the second quarter.

The next step is to analyze the significant amount of seismic, log and core data
gathered to plan the location of a third well to help further evaluate the
BM-S-22 license.

Hess holds a 40 percent interest in the license. Other participants are
ExxonMobil (40 percent) and Petrobras (20 percent). ExxonMobil is operator of
the license.

Hess Corporation, with headquarters in New York, is a global integrated energy
company engaged in the exploration, production, purchase, transportation and
sale of crude oil and natural gas, as well as the production and sale of refined
petroleum products. More information on Hess Corporation is available at
www.hess.com.

Hess Corporation
Investor:
Jay Wilson, 212-536-8940
or
Media:
Jon Pepper, 212-536-8550

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