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Business News of Tuesday, 10 June 2008

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Successful Flow Test Offshore Ghana

Anadarko Petroleum Corporation today announced the results of the Mahogany-2 drillstem test in the Jubilee field located on the West Cape Three Points Block offshore Ghana.

The Mahogany-2 well flowed at a test rate of 5,200 barrels per day of 36-degree API gravity crude oil and approximately 5.5 million cubic feet per day of associated natural gas from a single zone. The flow rate was limited by equipment and facilities.

"We are pleased with the results of the drillstem test, which validate the consortium’s updated estimated gross recoverable resources of between 500 million and 1.8 billion barrels of oil,” Anadarko Chief Operating Officer Karl Kurz said.

"This test confirms the productivity of the large reservoirs in the Jubilee field, and we look forward to working with our partners and the Republic of Ghana to develop this world-class field.”

The partnership believes the Mahogany-2 well is in pressure communication with the Mahogany-1 discovery well on the same block, approximately 4 miles to the southwest, and with the Hyedua-1 well on the Deepwater Tano Block approximately 7 miles to the southwest. Anadarko holds a 30.875% interest in the West Cape Three Points Block. Kosmos Energy is the block operator and holds a 30.875% interest. Other partners include Tullow Ghana Limited, an affiliate of Tullow Oil plc, with a 22.896% interest and Sabre Oil & Gas with a 1.854% interest in the block.

The E.O. Group, a Ghanaian oil and gas company, holds a 3.5% interest in the block. The Ghana National Petroleum Corporation will be carried through the exploration and development phases with a 10% participating interest. Anadarko Petroleum Corporation’s mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world’s health and welfare. As of year-end 2007, Anadarko had 2.4 billion barrels of oil equivalent of proved reserves, making it one of the world’s largest independent oil and natural gas exploration and production companies. For more information about Anadarko, please visit

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release, including our ability to successfully drill, complete and produce the wells described in this release. See "Risk Factors” in the company’s 2007 Annual Report on Form 10-K and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements.