Chevron Announces Successful Drilling Results

Chevron Corporation's wholly owned subsidiary Cabinda Gulf Oil Co. Ltd. (CABGOC) and its partners today announced successful offshore exploration results for five significant wells drilled in Angola's Block 0. The wells both expand and delineate the existing areas of operation in the block, the company said in its press release.

"These successes underscore our corporate exploration strategy of focusing on core, high-impact opportunities and opportunities that support our base business," said John Watson, president of Chevron International Exploration and Production Co.

James R. Blackwell, managing director of Chevron's Southern Africa strategic business unit, added, "Together, these results demonstrate our continuing success in this prolific block."

Chevron Corporation is one of the world's leading energy companies. With more than 53,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron is based in San Ramon, Calif. More information on Chevron is available at www.chevron.com.