ExxonMobil Withdraws Application

On October 19, 2005, ExxonMobil withdrew the Pearl Crossing Liquefied Natural Gas (LNG) Terminal application for license to build, own, and operate an offshore terminal for delivery of liquid natural gas. Based on a recent Federal Energy Regulatory Commission approval for two onshore terminals, ExxonMobil has determined that they no longer have a business need for an offshore terminal located in the Gulf of Mexico.