Chevron Reports Nat Gas Discovery Offshore Australia - Chevron (NYSE:CVX)

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Chevron Corporation (NYSE: CVX) today announced further drilling success byits Australian subsidiary in the Exmouth Plateau area, located in theCarnarvon Basin.The Elfin-1 exploration discovery well encountered approximately 132 feet (40meters) of net gas pay in the upper Mungaroo sands. It is Chevron's 21^stdiscovery offshore western Australia since mid-2009.Located in the WA-268-P permit area, the well is located approximately 106miles (170 kilometers) northwest of Barrow Island and was drilled in 3,570feet (1,088 meters) of water to a total depth of 11,909 feet (3,630 meters).

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