Marathon Oil Corporation and 1339971 Alberta Ltd. Obtain Exemption From Canadian Oil and Gas Reporting Obligations



    HOUSTON, March 6 /CNW/ -- Marathon Oil Corporation (NYSE:   MRO) today
announced that the securities commissions of the provinces of Alberta and
Ontario have issued a decision document (Decision) which has the effect of
granting Marathon and 1339971 Alberta Ltd. (1339971), an indirect subsidiary
of Marathon, exemptive relief from the disclosure requirements contained in
National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities
(NI 51-101).
    As a result of the Decision, and provided that certain conditions set out
in the Decision are met on an on-going basis, Marathon and 1339971 will not be
required to comply with the requirements of NI 51-101 and, accordingly, will
not be required to file Form 51-101F1 Statement of Reserves Data and Other Oil
and Gas Information, Form 51-101F2 Report on Reserves Data by Independent
Qualified Reserves Evaluator or Auditor and Form 51-101F3 Report of Management
and Directors on Oil and Gas Disclosure. In lieu of such filings, Marathon is
permitted, pursuant to the Decision, to provide disclosure in respect of its
oil and gas activities in the form permitted by, and in accordance with, the
legal requirements of the United States Securities Act of 1933, the United
States Securities Exchange Act of 1934 and the rules and regulations of the
United States Securities and Exchange Commission (SEC), the New York Stock
Exchange and the Chicago Stock Exchange (collectively, U.S. Rules). Marathon
is required to file such disclosure with the appropriate Canadian securities
commissions as soon as practicable after such disclosure is filed with the
SEC.
    Investors should be aware that Marathon's future disclosure relating to
its oil and gas activities will comply with the U.S. Rules rather than NI 51-
101 and the Canadian Oil and Gas Evaluation Handbook. The U.S. Rules differ in
a number of respects from the disclosure otherwise required under NI 51-101
and the Canadian Oil and Gas Evaluation Handbook and investors are urged to
consider these differences when considering all future disclosures made by
Marathon relating to its oil and gas activities.
    Marathon is an integrated international energy company engaged in
exploration and production; oil sands mining; integrated gas; and refining,
marketing and transportation operations. Marathon, which is based in Houston,
has principal operations in the United States, Angola, Canada, Equatorial
Guinea, Gabon, Indonesia, Ireland, Libya, Norway and the United Kingdom.
Marathon is the fourth largest United States-based integrated oil company and
the nation's fifth largest refiner. For more information about Marathon,
please visit the Company's Web site at www.marathon.com.

    
    Media Relations Contacts:      Lee Warren       713-296-4103
                                   Scott Scheffler  713-296-4102
    Investor Relations Contacts:   Howard Thill     713-296-4140
                                   Chris Phillips   713-296-3213
                                   Michol Ecklund   713-296-3919
    




For further information:

For further information: Media, Lee Warren, +1-713-296-4103, Scott 
Scheffler, +1-713-296-4102, or Investors, Howard Thill, +1-713-296-4140, Chris
Phillips, +1-713-296-3213, Michol Ecklund, +1-713-296-3919, all of Marathon
Oil Corporation; Web Site: http://www.marathon.com

Organization Profile

MARATHON OIL CORPORATION

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1339971 ALBERTA LTD.

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