Noble Increases Resource Estimate for Leviathan

Noble Energy on Monday announced results from its Leviathan appraisal well in the Amit license offshore Israel. The successful Leviathan #3 well, located more than three miles east of the original Leviathan discovery, encountered approximately 290 net feet of natural gas pay in multiple intervals. The reservoir thickness and quality were greater than anticipated and the gas/water contact was confirmed at the well location.

Charles D. Davidson , Noble Energy's Chairman and CEO, said, "The results of the appraisal well are very encouraging and validate our seismic modeling and petrophysical interpretation of this substantial resource. This positive outcome has led to an increased gross mean resource estimate of 17 trillion cubic feet (Tcf) with a range of 14 to 20 Tcf. We already have project teams in place identifying commercialization options and screening field development concepts."

The Leviathan #3 well was drilled to a total depth of 17,146 feet in about 5,480 feet of water. The rig used to drill the well is returning to Tamar to finish development activities. The Tamar development remains on schedule for commissioning in late 2012.

Noble Energy expects to return to Leviathan #1 in the first quarter 2012 to test a deep oil concept in the Levant basin after it concludes operations at Cyprus A-1 on Block 12 offshore Cyprus.

The Company recently commenced drilling the Tanin exploration well in the Alon A license offshore Israel. This prospect is targeting a natural gas interval analogous to that encountered at Tamar and is expected to reach total depth in late February 2012.

Noble Energy operates Leviathan with a 39.66 percent working interest. Other interest owners in the well are Delek Drilling and Avner Oil Exploration with 22.67 percent each and Ratio Oil exploration with the remaining 15 percent.

Noble Energy operates Tanin with a 47.06 percent working interest. Other interest owners in the well are Delek Drilling and Avner Oil Exploration with 26.47 percent each.


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