ExxonMobil to Explore Offshore Liberia Block 13

Fri Apr 5, 2013 11:12am EDT

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IRVING, Texas--(Business Wire)--
Exxon Mobil Corporation (NYSE:XOM) announced today that its Liberian affiliate
has acquired from Canadian Overseas Petroleum (Bermuda) Ltd. (COPL) 80 percent
interest in Liberia Block 13 (LB-13), comprising more than 625,000 acres (2,500
square kilometers) offshore Liberia in water depths ranging from 250 to 10,000
feet (75 to 3,000 meters). 

ExxonMobil Exploration and Production Liberia Limited and COPL received final
approval of the transaction from the Liberia national legislature and Liberia
President Ellen Johnson Sirleaf. The transaction closed on April 5, 2013. 

ExxonMobil is the operator of LB-13. COPL has 20 percent interest in LB-13. 

"We appreciate the vote of confidence from the government of Liberia in our
capability to help develop the nation`s hydrocarbon resources," said Steve
Greenlee, president of ExxonMobil Exploration Company. "The government of
Liberia wants to develop its resources for the benefit of the country and its
people. We have the capability and the expertise to help make that happen." 

ExxonMobil plans to open its venture office in Monrovia within 180 days to begin
fulfilling the requirements of the production sharing contract, which calls for
an exploration well to be drilled within three years. 

Liberia Block 13 is 18 miles (30 kilometers) offshore Liberia`s central coast. 

CAUTIONARY STATEMENT 

Statements in this release regarding future events and conditions are
forward-looking statements. Actual future results, including resource recoveries
and project plans, costs and timing, could differ materially due to changes in
long-term oil and gas price levels or other market conditions affecting the oil
and gas industry; regulatory approvals and other political or legal
developments; the results of technical studies or exploration activities; the
outcome of commercial negotiations; and other factors discussed under the
heading "Factors Affecting Future Results" posted in the Investor Information
section of our website (www.exxonmobil.com). 

About ExxonMobil

ExxonMobil, the largest publicly traded international oil and gas company, uses
technology and innovation to help meet the world`s growing energy needs.
ExxonMobil holds an industry-leading inventory of resources, is the largest
refiner and marketer of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit www.exxonmobil.com.

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