XOM: Q1 2008 Exxon Mobil Corporation Earnings Conference Call

"In April we announced two new agreements related to unconventional gas and liquids opportunities in Hungary. The first is a joint exploration program covering a 387,000 gross acres in the [Maco Trough] area of southeast Hungary. The second is a production and development agreement covering a further 185,000 gross acres on an adjacent block. Our work programs in Hungary including wells, production tests and reservoir evaluation studies are getting underway this year. ExxonMobil, along with majority owned affiliate Imperial Oil limited, further enhanced our portfolio of unconventional exploration opportunities with the recently announced capture of about 115,000 acres in the Horn River Basin in the northeastern British Columbia, Canada. Plans to evaluate the shale gas play potential includes seismic acquisition and exploration drilling in late 2000 and beyond. ExxonMobil brings industry leading technical expertise to all of these opportunities, including our fast-drill process and our tight gas development capability. ExxonMobil continues to pursue and capture a wide variety of opportunities to develop hydrocarbon resources to help meet growing energy demand."

More information on the JV in the Q&A section of the Conference Call transcript.

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