DEVON ENERGY DONATES $17,500 TO PANOLA COLLEGE’S
PETROLEUM TECHNOLOGY PROGRAM

CARTHAGE, TX – October 2, 2007 – On September 26, Devon Energy Corporation presented a donation of $17,500 to the Panola College Petroleum Technology Program. Designed in collaboration with local energy industry representatives, the Petroleum Technology Program prepares students for careers in the oil and gas business. The program is in its inaugural year and Devon’s gift will help fund books and other student supplies.

“The oil and gas industry is thriving in the Carthage area and this program gives students the opportunity to learn the technical skills necessary to build successful careers in the business,” said Harold Hawkins, Devon’s production superintendent for the Carthage District. “Devon is thrilled to support the program, the college and, most importantly, these hard-working students.”

The Panola College Petroleum Technology Program is a four semester program of study offered on two campuses - the Panola College campus in Carthage and the Shelby Regional Training Center (SRTC) in Center, Texas. The program combines class work with hands-on technical training and includes an internship working alongside professionals in the energy industry. Upon completion of the two-year program, students receive either a Certificate of Completion or an Associate of Applied Science Degree.

“We created the Petroleum Technology Program to address the energy industry’s need for trained employees in and around east Texas,” said Dr. Joe F. Shannon, Dean of Instruction for Panola College.  “Devon Energy has been incredibly supportive throughout all phases of our growth – from participating in curriculum development to providing internship opportunities to students. This generous donation underscores Devon’s commitment not only to our program, but also to our community.”

Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration, production and property acquisitions. Devon is one of the world’s leading independent oil and gas producers and is included in the S&P 500 Index. Devon is the largest independent producer of oil and natural gas in Texas, and has operated in east Texas for the past 20 years.  Devon has 50 full-time employees in the Carthage area. The company currently produces an average of 249 million cubic feet of gas per day from the region and operates 435 miles of pipelines to transport the gas.