General Exploration Partners Sells 53.2% Interest in Atrush

General Exploration Partners Sells 53.2% Interest in Atrush Block 
DENVER, CO -- (Marketwire) -- 12/03/12 --   General Exploration
Partners Inc. ("GEP" or the "Company") has signed a purchase and sale
agreement to sell 53.2% of its participating interest in the Atrush
Block to Abu Dhabi National Energy Company PJSC ("TAQA"). In
conjunction with the sale, Aspect Energy International, LLC will
divest itself of any interest in GEP, leaving ShaMaran Ventures B.V.
as the sole interest holder of GEP's remaining participating
interest. The agreement is subject to final approval by the Kurdistan
Regional Government and obtaining necessary partner consents.  
Following the closing of the transaction and subject to the Kurdistan
Regional Government's 25% carried option, the Atrush Block will be
held 53.2% by TAQA, 26.8% by GEP, and 20% by Marathon Oil KDV B.V., a
wholly owned subsidiary of Marathon Oil Corporation (NYSE: MRO).  
Alex Cranberg, Chairman of Aspect Holdings, LLC, commented, "With
GEP's recent notification of Commercial Discovery, TAQA brings
strengths and synergies which will assist with development and
production. Most importantly however, the people of Kurdistan and all
of Iraq continue to benefit from investment in and production of the
natural resources in the region." 
This press release contains statements about expected or anticipated
future events and financial results that are forward-looking in
nature and, as a result, are subject to certain risks and
uncertainties, such as legal and political risk, civil unrest,
general economic, market and business conditions, the regulatory
process and actions, technical issues, new legislation, competitive
and general economic factors and conditions, the uncertainties
resulting from potential delays or changes in plans, the occurrence
of unexpected events and management's capacity to execute and
implement its future plans. Actual results may differ materially from
those projected by management. Further, any forward-looking
information is made only as of a certain date and neither the Company
nor its partner's undertakes any obligation to update any
forward-looking information or statements to reflect events or
circumstances after the date on which such statement is made or
reflect the occurrence of unanticipated 
events, except as may be
required by applicable securities laws. New factors emerge from time
to time, and it is not possible for management of the Company to
predict all of these factors and to assess in advance the impact of
each such factor on the Company's nor its partner's business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking information. 
Rob Foster
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