Acquisition of Working Interests in Gulf of Mexico ("GOM") Oil and Gas Fields from Pioneer (Additional Information)

Mar. 29. 2006
Marubeni Corporation

Marubeni Corporation is pleased to announce that, in connection with our announcement of February 24, 2006 regarding the acquisition by our 100% subsidiary, Marubeni Offshore Production (USA) Inc. of a working interests in multiple oil and gas assets in the GOM from Pioneer Natural Resources USA Inc. (“Pioneer USA,: hereinafter), a 100% subsidiary of Pioneer Natural Resources Company, the final purchase price was USD1.16 billion (JPY136 billion) after the exercise of the preferential rights to purchase by the existing Joint Venture partners. Details are as follows:

  1. Details of Assets Acquired
    Multiple oil and gas assets in the GOM, including several production and development fields and exploration blocks owned by Pioneer USA (total 96 blocks)
  2. Profile of Pioneer USA
    Company name:Pioneer Natural Resources USA Inc.
    Headquarters : Irving, Texas US
    Employees : 950
    Shareholder : Pioneer Natural Resources Company
  3. Date of acquisition
    March 28, 2006 (US time)
  4. Forecast
    The forecast consolidated results for FY2005 remains unchanged

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