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Exxon Mobil Profit Jumps 58% and Declares Dividend.

Europe Intelligence Wire

| August 01, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Hugin)

City of Industry, CA - August 1, 2003 - Exxon Mobil Corp. (NYSE:XOM), the world's biggest publicly traded oil company, on Thursday said second-quarter profit surged 58 percent on higher oil and gas prices, improved refining and marketing results and the highest earnings on chemicals in five years. Exxon Mobil Corp. Also, on Wednesday Exxon declared a cash dividend of 25 cents per share payable Sept. 10 to shareholders of record at the close of business Aug. 13. Investors also cheered Exxon Mobil's plan to accelerate stock buy-back activity by 20 percent. The giant oil and gas company said the third-quarter dividend is unchanged from the second quarter. Based on its current stock price, the shares yield 2.7 percent, according to S&P MarketScope. Other Oil and Gas companies declaring dividends recently include Sonoran Energy, Inc. (OTCBB: SNRN). Based on the results of a 3rd party geologic review new oil reserves discovered on the Company's holdings in the Mount Poso Field and Deer Creek Oil Field have a future potential value of up to $17.8 million. The proved undeveloped reserves (PUD) found on the 160-acre Emjayco Glide #33 property and the 113-acre Deer Creek Oil Company properties ...

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