The Rising Influence of Rising Affluence

[DewDiligence]

HES – This PR was presumably issued in response to the rumors
on the dry hole, but it doesn’t do much to allay such concerns.

http://finance.yahoo.com/news/Hess-Provides-Update-on-BMS22-bw-15423545.html

›Hess Provides Update on BM-S-22 License

Wednesday June 3, 2009, 8:30 am EDT

NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES ) announced today that the Guarani well on the BM-S-22 license in the Santos Basin offshore Brazil has been drilled in 2,238 meters of water to a measured depth of 5,424 meters. Drilling operations are continuing with a sidetrack and coring of the well as part of an ongoing evaluation program.

Hess holds a 40 percent interest in the license in partnership with Exxon Mobil (40 percent) and Petrobras (20 percent). Exxon Mobil is operator of the license.

Hess Corporation, with headquarters in New York, is a global integrated energy company engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products. More information on Hess Corporation is available at www.hess.com.‹