2009-05-20-2007-06-01-2007-07-01

Purchased assets in BC, involving 1.4 MMBOE proved.

Murphy Oil Co. Ltd., a subsidiary of Murphy Oil Corp., El Dorado, Ark., (NYSE: MUR) has acquired the interests in the Tupper area of British Columbia from Bear Ridge Resources Ltd., Calgary, (Toronto: BER) for C$155 million. The assets include five wells on the undeveloped Montney gas play. Proved reserves are 1.4 million barrels of oil equivalent and proved and probable reserves are 4 million barrels equivalent. The assets may contain up to 800 billion cubic feet of original gas in place. The properties also feature a 46-kilometer sales pipeline in the final stage of approval with the British Columbia oil and gas commission, with expected full approvals by the end of June. Murphy president and chief executive Claiborne P. Deming says, "Murphy will operate this property with a high working interest (97%). Tupper is the type of property that fits very well with our previously announced strategy of acquiring new entry opportunities to add to our upstream portfolio."