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Apache’s WKAL-C-1X Discovery Tests 4,746 Barrels of Oil Per Day on the West Kalabsha Concession in Egypt’s Western Desert

October 29, 2008

HOUSTON, Oct. 29 /PRNewswire-FirstCall/ — Apache Corporation reported today that the WKAL-C-1X discovery on the West Kalabsha concession established the westernmost production in Egypt’s Western Desert. The well flowed 4,746 barrels of oil and 4.4 million cubic feet of gas per day in a test of the Jurassic Safa formation.

The WKAL-C-1X is located in the Faghur Basin, eight miles northwest of Apache’s 2006 Faghur-1 ST1 discovery and 50 miles east of the Libyan border. The well was drilled to a total depth of 14,600 feet and logged 46 feet of Safa oil pay as well as 36 feet of pay in the Alem El Bueib (AEB) 3C formation. Wireline pressure data suggests the water level may be at least 190 feet below the base of the oil sand.

“The WKAL-C-1X discovery represents the westernmost oil ever discovered in Egypt and confirms our exploration model for this area of the Faghur Basin, coming on the heels of the successful completion of the Heqet-2 well, which tested approximately 3,000 barrels per day,” said G. Steven Farris, Apache’s president and chief executive officer.

Oil produced in the Faghur-1 ST1 and nearby Heqet, Kalabsha and Neith Fields is found in Jurassic-aged sands below 14,000 feet that were sourced from Jurassic-aged shales and coals buried within the Faghur Basin. Temperatures in the Faghur Basin are much cooler than the Shushan Basin, the location of the Jurassic Qasr field, Apache’s largest field; thus, a large portion of the Faghur Basin is oil-bearing, as opposed to the hotter-temperature, gas-bearing Shushan Basin.

The WKAL-C-1X Safa oil accumulation is estimated to be about 580 acres. The prospective area of the Jurassic oil play fairway associated with the Faghur Basin is estimated to comprise approximately 830 square miles, mostly within Apache-operated concessions.

Apache operates the West Kalabsha concession and has a 100-percent contractor interest.

Apache Corporation is a large independent oil and gas exploration and production company with operations in the United States, Canada, the United Kingdom North Sea, Egypt, Australia and Argentina.

This news release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, expectations, beliefs, plans and objectives regarding production and exploration activities. Any matters that are not historical facts are forward-looking and, accordingly, involve estimates, assumptions, risks and uncertainties, including, without limitation, risks, uncertainties and other factors discussed in our 2007 Form 10-K and on our Web site. There is no assurance that Apache’s expectations will be realized, and actual results may differ materially from those expressed in the forward-looking statements. We assume no duty to update these statements as of any future date.

APA-EG

Apache Corporation

CONTACT: media, Bill Mintz, +1-713-296-7276, or investors, Robert Dye,+1-713-296-6662, or David Higgins, +1-713-296-6690, all for ApacheCorporation

Web site: http://www.apachecorp.com/




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