Marathon sale of interest in Block 32 Off Angola

Source: www.gulfoilandgas.com 12/11/2009, Location: Africa

Marathon Oil Corporation announced that following the exercise of a right of first refusal by Sociedad Nacional De Combustiveis De Angola, E.P., (SONANGOL), SONANGOL's wholly owned subsidiary, Sociedad Pesquisa E Producao, S.A.R.L., has signed an agreement to purchase a 20 percent undivided working interest in Angola Block 32 from Marathon.

The terms of the agreement are the same as the previously announced transaction. The parties expect to close the transaction in January 2010.

Marathon will retain a 10 percent working interest in Block 32.


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