Marathon Oil (MRO)

Operational and Corporate Highlights

During the first nine months of 2007 and through the date of this Report, we:

•                  Announced the results of the Droshky discovery and two appraisal sidetrack wells in the Gulf of Mexico;

•                  Announced seven exploration discoveries in deepwater Angola;

•                  Were the high bidder on 27 blocks in the Gulf of Mexico in the U.S. Minerals Management Service lease sale;

•                  Signed an agreement to carry out a study of the Dnieper-Donets Basin located in north central Ukraine;

•                  Continued to progress the Neptune development in deepwater Gulf of Mexico and the Alvheim/Vilje project offshore Norway;

•                  Acquired Western Oil Sands Inc. (“Western”);

•                  Commenced construction of the Garyville, Louisiana, refinery expansion;

•                  Approved a projected $1.9 billion heavy oil upgrading and expansion project at the Detroit, Michigan, refinery;

•                  Continued construction of the joint venture ethanol facility in Greenville, Ohio, and acquired a 35 percent interest in an entity that owns and operates an ethanol facility in Clymers, Indiana;

•                  Commenced production at the Equatorial Guinea LNG production facility;

•                  Repurchased 16 million common shares, bringing total repurchases to date to 57 million common shares at a cost of $2.497 billion;

•                  Increased our quarterly dividend per share by 20 percent; and

•                  Completed a two-for-one split of our common stock.

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Operational and Corporate Highlights

During the first six months of 2007, we:

·                  Announced the results of the Droshky discovery and two appraisal sidetrack wells in the Gulf of Mexico;

·                  Announced six exploration discoveries in deepwater Angola;

·                  Signed an agreement to carry out a study of the Dnieper-Donets Basin located in north central Ukraine;

·                  Continued to progress the Neptune development in deepwater Gulf of Mexico and the Alvheim/Vilje project in Norway;

·                  Commenced construction of the Garyville, Louisiana, refinery expansion;

·                  Set records for refinery crude and total throughputs for the first six months of the year;

·                  Continued construction of the 110 million gallon per year joint venture ethanol facility in Greenville, Ohio;

·                  Commenced production at the Equatorial Guinea LNG production facility and delivered three shipments of LNG;

·                  Repurchased 15 million common shares, bringing total stock repurchases to date to 57 million shares at a cost of $2.474 billion;

·                  Increased our quarterly dividend per share by 20 percent; and

·                  Completed a two-for-one split of our common stock.