Oil Insurance Limited Welcomes Four New Members

               Oil Insurance Limited Welcomes Four New Members

PR Newswire

HAMILTON, Bermuda, July 30, 2013

HAMILTON, Bermuda, July 30, 2013 /PRNewswire/ --

Oil Insurance Limited (OIL) today, July 30th 2013, announced the signing of
four new energy companies as members through the first seven months of 2013.
They are Alon USA Energy, Inc, Anadarko Petroleum Corporation, Arena Energy,
LP and Cenovus Energy Inc.

Alon USA Energy, Inc, headquartered in Dallas, Texas, is an independent
refiner and marketer of petroleum products. Its operations include refining,
asphalt and retail/branded marketing across the western and south-central
regions of the United States.

Anadarko Petroleum Corporation is among the world's largest independent oil
and natural gas exploration and production companies, with assets in the Rocky
Mountains region, the southern United States and the Appalachian Basin. The
company also is a deepwater producer in the Gulf of Mexico, and has production
in Alaska, Algeria and Ghana with additional exploration opportunities in West
Africa, Mozambique, Kenya, South Africa, Colombia, Guyana, New Zealand and
China.

Arena Energy, LP is a privately-held company located in The Woodlands, Texas,
formed in 1999 to pursue oil and gas development and lower-risk exploration
drilling opportunities on the Gulf of Mexico shelf.

Cenovus Energy Inc. is a Canadian oil company based in Calgary, Alberta.
Theiroperations include oil sands projects in northern Alberta which use
specialized methods to drill and pump the oil to the surface, natural gas and
oil production in Alberta and Saskatchewan as well as ownership interests in
two U.S. refineries.

COO George Hutchings commented: "Interest in OIL by energy companies from
around the globe continues to grow. Recent actions to increase OIL's property
limit to $300 million, implement changes to minimize potential pricing
volatility, rewrite the Shareholders Agreement, Policy and Rating & Premium
Plan, and improve our marketing efforts have had favorable effects on the OIL
value proposition. OIL continues to evolve and respond to our members' diverse
needs and their global exposures."

CEO Robert Stauffer stated: "There are now 56 energy company members
participating in the OIL mutual with growing interest from international
prospects. Our members seek the security and predictability of OIL's
significant $300 million cornerstone capacity, which offers 'for interest
limits' for property damage, well control, re-drilling, pollution clean-up
costs and terrorism among others."

For more information about OIL's property coverages and related value go to
http://www.oil.bm.

Oil Insurance Limited (OIL) insures over two trillion dollars of global energy
assets for more than fifty members with property limits up to $300 million
totaling more than11billion dollars in total A- rated property capacity.
Members are medium to large sized public and private energy companies with at
least $1 billion in physical property assets and an investment grade rating or
equivalent. Products offered include Property (Physical Damage), Windstorm,
Non Gradual Pollution, Control of Well, Terrorism, Construction and Cargo. The
industry sectors that OIL protects include Offshore and Onshore Exploration &
Production, Refining and Marketing, Petrochemicals, Mining, Pipelines,
Electric Utilities and other related energy business sectors.

SOURCE Oil Insurance Limited (OIL)

Contact: Further inquiries regarding this press release should be directed to
Barry Brewer, VP Marketing at barry.brewer@oil.bm or +1(441)295-0905.
 
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