This excerpt taken from the APC 8-K filed Feb 2, 2010.


Anadarko announced nine deepwater discoveries in three of the most attractive deepwater plays in the world in 2009. These results include five subsalt discoveries in the Gulf of Mexico, three in the Cretaceous Fan play offshore West Africa and one in the pre-salt play offshore Brazil.

In addition to its 50-percent success rate in deepwater exploration during 2009, Anadarko also continued an aggressive appraisal program that extended the potentially productive area of the Jubilee field in Ghana beyond its current unit boundaries. In Brazil, the successful Wahoo #2 pre-salt appraisal well confirmed the main pay section of the field extends at least five miles to the north and down-dip of the discovery well. Already in 2010, Anadarko has announced a successful appraisal of the Tweneboa discovery offshore Ghana, with more than 105 net feet of pay over a large areal extent, and a successful appraisal of the Lucius discovery in the Gulf of Mexico that encountered more than 600 net feet of pay and confirmed that this is a major oil discovery.

Anadarko continues to advance its current mega projects in Ghana, the Gulf of Mexico and Algeria and expects each project to remain on schedule and within budget. The Jubilee field in Ghana is expected to start producing late this year, and in total, the three projects are expected to add more than 60,000 BOE per day net to Anadarko by 2012. In addition, the company continues to develop its fairway positions and ramp up production in the Marcellus, Eagleford and Haynesville shale plays onshore in the United States. Anadarko also expanded its position in the Marcellus Shale during the fourth-quarter of 2009 to approximately 350,000 net acres from about 315,000 net acres at the end of the third quarter. The company also recently announced a transaction to add approximately 80,000 net acres to its existing 180,000 net acres in the Maverick Basin, with a focus on the liquids-rich Eagleford Shale.

Anadarko will provide more information regarding its outlook and capital program for 2010, on March 2, 2010, at the company’s Investor Conference in New York. For more information regarding Anadarko’s 2010 Investor Conference, please visit the Investor Relations page at www.anadarko.com.

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