November 4, 2009

Marubeni announces oil discovery in UK North Sea

Marubeni North Sea Limited ("Marubeni", a wholly owned subsidiary of Marubeni Corporation) has successfully completed exploration and appraisal drilling in the UK Central North Sea with its partner, Talisman Energy (UK) Limited ("Talisman", a wholly owned subsidiary of Talisman Energy Inc., one of Canada’s largest upstream oil companies).

Marubeni and Talisman drilled the Shaw well, together with two appraisal sidetracks, in Block 22/22a and made a discovery which is estimated to contain oil-in-place in the region of 100million barrels. The first sidetrack tested at a constrained rate of 7,700 bopd of 42 degree API crude oil.

Marubeni has a 41.03% working interest in the Shaw discovery with Talisman holding the remaining 58.97%.

Marubeni and Talisman have now drilled three prospects, Cayley, Godwin and Shaw, in the Montrose/Arbroath area, and successfully discovered oil and gas in all three. Marubeni and Talisman are currently evaluating development options for these discoveries.

The successful results from the Montrose/Arbroath area exploration campaign will provide impetus for Marubeni’s future growth in the UK North Sea.

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