Noble Energy and Samson Offshore Team Up for Deepwater Exploration

Noble Energy, Inc. and Samson Offshore Company have entered into an exploration agreement covering interests in 37 deepwater leases held by Noble Energy in the Gulf of Mexico. Under the terms of the agreement, Samson will acquire a 25 percent working interest net to Noble Energy's existing working interest in the leases, a majority of which are currently 100 percent owned and operated by Noble Energy. In addition, Samson will participate in at least four exploratory wells through the end of 2008, the first of which is scheduled to commence later this month.

"Long-term strategic alliances, like the agreement announced today with Samson, will become a key component of our deepwater exploration program in the future," said Dave Stover, Noble Energy's senior vice president for North America. "This agreement guarantees that we will have a committed partner in upcoming exploration wells for several years. It will also help us leverage resources to expand our opportunity base in the deepwater. Samson is a premier E&P player active in many other domestic and international areas and will bring experienced personnel to the partnership. We are pleased they have chosen to team up with Noble in the deep water Gulf of Mexico."

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