First, it encountered high-quality oilpay, confirming the Jubilee fields substantial potential and expanding theareal extent of the field by more than three miles to the southeast of theoriginal Mahogany-1 discovery well. Second, the well opens new potential on theblock as it encountered oil pay in the secondary exploration objective. Thisdeeper section of the well targeted a previously untested and separate fan at alower stratigraphic interval, potentially adding incremental resources in theplay. "These recent developments are exciting news for the nation and people of Ghana,as well as Anadarko and our partners. We look forward to working with Ghanasnewly elected leadership to continue exploring for and developing theseimportant resources," Hackett added. Once operations at Mahogany-3 are complete, the partnership expects to begindrilling the Tweneboa-1 prospect, which has similar size and reservoircharacteristics to Jubilee. Tweneboa is located on the Deepwater Tano License inapproximately 3,750 feet of water.
WEST CAPE THREE POINTS BLOCKAnadarko holds a 30.875-percent interest in the West Cape Three Points Block.Kosmos Energy is the block operator and also holds a 30.875-percent interest.Other partners include Tullow (22.896 percent), Sabre (1.854 percent), The E.O.Group, a Ghanaian oil and gas company, (3.5 percent) and the Ghana NationalPetroleum Corporation (10-percent carried interest). Other partners include Kosmos Energy (18 percent), SabreOil & Gas (4.05 percent) and the Ghana National Petroleum Corporation(10-percent carried interest). Anadarko Petroleum Corporations mission is to deliver a competitive andsustainable rate of return to shareholders by exploring for, acquiring anddeveloping oil and natural gas resources vital to the worlds health andwelfare. As of year-end 2007, Anadarko had 2.4 billion barrels of oil equivalentof proved reserves, making it one of the worlds largest independent oil andnatural gas exploration and production companies. For more information aboutAnadarko, please visit This news release contains forward-looking statements within the meaning ofSection 27A of the Securities Act of 1933 and Section 21E of the SecuritiesExchange Act of 1934.Anadarko believes that its expectations are based onreasonable assumptions.No assurance, however, can be given that suchexpectations will prove to have been correct.A number of factors could causeactual results to differ materially from the projections, anticipated results orother expectations expressed in this news release, including our ability tosuccessfully drill, complete, testand produce the wells described in thisrelease.See "Risk Factors" in the companys 2007 Annual Report on Form 10-K andother public filings and press releases.
Anadarko undertakes no obligation topublicly update or revise any forward-looking statements.Cautionary Note to U.S. Anadarko usescertain terms in this news release, such as "estimated gross recoverableresources" and similar terms that the SECs guidelines strictly prohibitAnadarko from including in filings with the SEC U.S. Investors are urged toconsider closely the disclosure in Anadarkos Form 10-K for the year ended Dec.31, 2007, File No. 001-08968, available from Anadarko at or bywriting Anadarko at: Anadarko Petroleum Corporation, 1201 Lake Robbins Drive,The Woodlands, Texas 77380, Attn: Investor Relations. SEOUL, Jan 12 (Reuters) - A South Korean court has frozenSsangyong Motor Corp's (003620.KS) debts and obligations for thetime being, a court spokesman said on Monday, after the companyon Friday filed for bankruptcy protection.