HOUSTON, TX, Dec 03, 2008 (MARKET WIRE via COMTEX News Network) -- El Paso Corporation (NYSE: EP) announced today that the Tot exploration well, 1-ESS-185D, located in the ES-5 block offshore Brazil, is a discovery. Through its Brazilian E&P subsidiary, El Paso has a 35 percent working interest in the Petrobras-operated well. The well is located 30 kilometers offshore in 61 meters of water, and was drilled to a total vertical depth of 4,521 meters. Preliminary evaluation of logs and core analysis suggests a reservoir thickness similar to the main objective in the Camarupim development on the south end of the block. Continuing formation evaluation, including possible drill stem tests, will be forthcoming.

"We are delighted to report a new discovery in the ES-5 block along with excellent progress on the Camarupim development project," said Brent Smolik, president of El Paso Exploration and Production. "In 2009, we will begin to realize the benefits of our successful exploration efforts in Brazil, and our production there will become an increasingly important part of our future production and reserve growth."

El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. El Paso owns North America's largest interstate natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, visit www.elpaso.com.

Cautionary Statement Regarding Forward-Looking Statements

This release includes certain forward-looking statements and projections. The company has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including, without limitation changes in reserve estimates based upon internal and third party reserve analyses; our ability to meet production volume targets in our Exploration and Production segment; changes in commodity prices and basis differentials for oil, natural gas, and power; general economic and weather conditions in geographic regions or markets served by the company and its affiliates, or where operations of the company and its affiliates are located, including the risk of a global recession and negative impact on natural gas demand; the uncertainties associated with governmental regulation; political and currency risks associated with international operations of the company and its affiliates; competition; and other factors described in the company's (and its affiliates') Securities and Exchange Commission filings. While the company makes these statements and projections in good faith, neither the company nor its management can guarantee that anticipated future results will be achieved. Reference must be made to those filings for additional important factors that may affect actual results. The company assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the company, whether as a result of new information, future events, or otherwise.

Contacts:
Investor and Public Relations
Bruce L. Connery
Vice President
Office: (713) 420-5855

Media Relations
Richard Wheatley
Office: (713) 420-6828

SOURCE: El Paso Corporation