Marathon Oil Announces Jisik Discovery in the Kurdistan Region of Iraq

HOUSTON, Dec. 1, 2014 (GLOBE NEWSWIRE) — Marathon Oil Corporation (NYSE: MRO), through its wholly owned

subsidiary Marathon Oil KDV B.V., announced today that the Jisik-1

exploration well has discovered multiple stacked oil and natural

gas producing zones on the Company’s operated Harir Block in the

Kurdistan Region of Iraq.

Located approximately 40 miles northeast of Erbil, the Jisik-1

well was drilled to a total depth of approximately 15,000 feet. Oil

and natural gas shows were noted over an extensive gross interval

of both Jurassic and Triassic reservoirs. A drill-stem testing

program yielded a sustained flow rate of 6,100 barrels per day of

oil, and multiple non-associated gas zones flowed at a combined

rate of approximately 10-15 million cubic feet per day, without

stimulation, together with associated condensate, all of which were

equipment constrained. The Jisik-1 well will be suspended for

potential future use as a producing well.

Marathon Oil is the operator of the Harir Block, with a 45

percent working interest. Total holds a 35 percent working

interest and the Kurdistan Regional Government holds a 20 percent

carried interest.

Marathon Oil Corporation is a global exploration and production

company. Based in Houston, Texas, the Company had net proved

reserves at the end of 2013 of 2.2 billion barrels of oil

equivalent in North America, Europe and Africa. For more

information, please visit our website at

http://www.marathonoil.com.

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This release contains forward-looking statements within the

meaning of Section 27A of the Securities Act of 1933, as amended,

and Section 21E of the Securities Exchange Act of 1934, as amended,

including Marathon Oil’s plans and expectations with respect to the

Jisik-1 exploration well. While Marathon Oil believes that the

assumptions concerning future events are reasonable, a number of

factors could cause results to differ materially from those

indicated by such forward-looking statements including, but not

limited to: conditions in the oil and gas industry, including the

level of supply or demand for liquid hydrocarbons and natural gas

and the impact on the price of liquid hydrocarbons and natural gas;

changes in political or economic conditions in key operating

markets, including international markets; the amount of capital

available for exploration and development; timing of commencing

production from new wells; drilling rig availability; availability

of materials and labor; the inability to obtain or delay in

obtaining necessary government or third-party approvals and

permits; non-performance by third parties of their contractual

obligations; unforeseen hazards such as weather conditions, acts of

war or terrorist acts and the governmental or military response

thereto; changes in safety, health, environmental and other

regulations; and other geological, operating and economic

considerations. These forward-looking statements are also affected

by the risk factors, forward-looking statements and challenges and

uncertainties described in Marathon Oil’s Annual Report on Form

10-K for the year ended December 31, 2013, and those set forth from

time to time in Marathon Oil’s filings with the Securities and

Exchange Commission, which are currently available at

www.marathonoil.com. Except as required by law, Marathon Oil

expressly disclaims any intention or obligation to revise or update

any forward-looking statements whether as a result of new

information, future events or otherwise.

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