Newfield Exploration Co.

Newfield Exploration Co. has retained Meagher Oil & Gas Properties Inc. to sell operated exploration and development properties in Montana, North Dakota and Wyoming. The Wolf Point Prospect involves 100% working interest (12.50% to 18.75% lessor royalties) in 293,200 gross acres (194,500 net) in Valley County, Montana. Lease expirations range from 2010 to 2016. The prospect is a large contiguous acreage block with potential in multiple formations. Cretaceous biogenic gas drilling shows in Judith River/Eagle and Niobrara formations; oil drilling and core shows in Jurassic Firemoon formation; Mississippian production is nearby in Charles, Ratcliffe, Mission Canyon and Lodgepole formations; and Devonian oil is possible in Bakken, Three Forks, Nisku and Duperow formation. The East of Eden Prospect involves 90% working interest (12.50% to 18.75% lessor royalties) in 8,120 net acres in Mountrail and Ward counties, North Dakota. The majority of leases expire mid-2012. Newfield has the option to drill two test wells by April 1, 2010, to test the Bakken/Sanish formation. Offset operators including EOG Resources, Hess and Hunt. The area is considered to be a possible extension to Parshall Field. The Goshen Prospect involves 100% working interest (80% to 82.5% net revenue interest) in 30,000 net acres in the northwest DJ Basin in Goshen and Platt counties, Wyoming. The majority of leases expire in 2011; most are fee with some state and federal lands. The primary target formation is Niobrara found at depths from 2,000 to 5,000 feet. A secondary target formation is Codell sandstone. Numerous horizontal drilling locations exist. The bid due date is June 30. The effective date is July 1. Closing is expected by July 31. Contact Julia Foster, 303-721-6354, ext. 229.