2009-08-18-2008-01-01

To acquire 40% WI, operate AC/P36 exploration permit in Browse Basin offshore NW Australia covering 1 million acres in 1,200-1,600 ft. water.

Murphy Oil Corp., El Dorado, Ark., (NYSE: MUR) through subsidiary Murphy Australia Oil Pty Ltd. plans to acquire 40% interest and become operator of the AC/P36 exploration permit in the Browse Basin offshore Northwestern Australia from privately held Finder Exploration Pty Ltd., West Perth, Australia, for an undisclosed price. The AC/P36 permit covers approximately 1 million acres and lies in 1,200 to 1,600 feet of water. Partners include Finder (40%) and PTTEP Australia Offshore Pty Ltd. (20%). Murphy Oil president and chief executive Claiborne P. Deming says, "This acreage acquisition is important as it not only marks our entry into Australia where we see further growth opportunities but complements our existing Southeast Asia position, which is already yielding strong results in Malaysia. We look forward to seeing our presence grow in this strategic region."