CORRECTED Murphy Oil Announces Results from First Eagle Ford...

CORRECTED Murphy Oil Announces Results from First Eagle Ford Shale Well and Update of Drilling Activities

EL DORADO, Ark. - (Business Wire) Murphy Oil Corporation (NYSE: MUR) announced encouraging results from their first well drilled in the Eagle Ford Shale in McMullen County, Texas. Two appraisal wells drilled in Malaysia encountered less than prognosticated oil pays and were abandoned. In the Gulf of Mexico, the Company announced its participation in the Deep Blue prospect currently being drilled in Green Canyon.

A discovery was made at the George Miles #1H well in the Eagle Ford Shale in South Texas. The well was drilled vertically to a depth of 13,320 feet then completed in a 3,190 ft. horizontal section with a 13 stage fracture stimulation. The well flowed at an initial rate of approximately 7.5 million cubic feet of natural gas per day. President and Chief Executive Officer, David M. Wood, commented We are very pleased by the results of our first well in this promising Eagle Ford Shale play and by the quality of the acreage we have accumulated. We are currently drilling our second well in Karnes County to evaluate another tranche of our leasehold, and expect to stay very active in this play throughout the year.