SAN RAMON, CA - January 26, 2010 – Chevron Corporation (NYSE: CVX), through an Australian subsidiary, today announced further exploration drilling success in the Greater Gorgon Area in the Carnarvon Basin offshore Western Australia.

The Yellowglen-1 discovery well is located in the WA-268-P permit area approximately 150 miles (250 kilometers) northwest of Onslow. The well was drilled to a total depth of 9,050 feet (2,760 meters). Results indicate a gas column of approximately 450 feet (137 meters).

"The success of Yellowglen-1, following closely on our recent Satyr-1 and Achilles-1 discoveries in the same area, highlights Chevron's exploration capabilities in the region and helps demonstrate the significance of Australia to Chevron's energy portfolio," said George Kirkland, vice chairman, Chevron.

Jim Blackwell, president, Chevron Asia Pacific Exploration and Production Co. added, "This discovery adds to the growth of our natural gas business in Australia. We plan a robust program of exploration, appraisal and seismic programs in Australia in 2010."

Chevron Australia is the operator of WA-268-P with a 50 percent interest.

Chevron Corporation is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company's success is driven by the ingenuity and commitment of approximately 62,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels and other renewables. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.