PAGE 1
- - -----------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549-1004
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):February 14, 1996
MOBIL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-7555 13-2850309
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
3225 Gallows Road
Fairfax, Virginia 22037-0001
Telephone: (703) 846-3000
(Address of principal executive offices)
- - -----------------------------------------------------------------
<PAGE>
PAGE 2
Item 5. Other Events
The Registrant hereby incorporates by reference herein the
information set forth in its News Release dated February 14, 1996,
a copy of which is annexed hereto as exhibit 99.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits.
99. Mobil Corporation News Release dated February 14,
1996 which announced that its Australian
subsidiary, Mobil Exploration & Producing
Australia Pty Ltd has acquired a substantial
position in Ampolex Limited through the purchase
of its listed securities and has made a proposal
to acquire the Australian oil and gas exploration
and producing company.
<PAGE>
PAGE 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
REGISTRANT MOBIL CORPORATION
By /S/GORDON G. GARNEY
NAME AND TITLE Gordon G. Garney, Senior Assistant Secretary
DATE February 14, 1996
<PAGE>
PAGE 4
EXHIBIT INDEX
EXHIBIT SUBMISSION MEDIA
------- ----------------
99. Mobil Corporation, Electronic
News Release dated
February 14, 1996
MOBIL PROPOSES TO ACQUIRE AMPOLEX, AUSTRALIAN E&P FIRM
SYDNEY, AUSTRALIA -- February 14, 1996 -- Mobil Corporation today announced
that its Australian subsidiary, Mobil Exploration & Producing Australia Pty
Ltd (MEPA) has acquired a substantial position in Ampolex Limited through the
purchase of its listed securities and has made a proposal to acquire the
Australian oil and gas exploration and producing company.
Under the Mobil proposal, Ampolex would be acquired by MEPA through a cash
offer for all Ampolex listed securities. Mobil indicated that it would expect
to pay A$4.25 per share (US$3.20 at current exchange rates) for Ampolex's
ordinary shares, a 34% premium over last night's closing price. The total
price is A$1.24 billion (US$936 million at current exchange rates) plus
additional amounts for preference shares and convertible notes. Mobil also
indicated that it expects to offer continued employment to all Ampolex
employees.
"We believe the potential benefits of a union between Ampolex and Mobil
represent a winning proposition for the shareholders of Ampolex and Mobil,
for Ampolex employees and for the overall business of both companies," said
Paul J. Hoenmans, Mobil director and president of its Exploration and Producing
division. "Our strategies and interests are complementary. Ampolex's resource
base and current production will contribute to Mobil's upstream goal of
profitably growing production and reserves. In turn, Mobil will bring world-
class capabilities in development, technology, project finance and operations."
- more -
<PAGE>
- 2 -
The Mobil offer will be conditional upon regulatory approvals in Australia
and the United States, minimum acceptance conditions, no material change in
Ampolex's circumstances or in the financial markets, and standard Australian
conditions.
"Mobil looks forward to the opportunity to extend its commitment to the
Australian market and economy," said Mr. Hoenmans. "We have a rich history in
Australia in marketing and refining, and our union with Ampolex will further
strengthen Mobil's commitment."
Mobil was the first oil company in Australia, with investment dating back
to 1895. Today, Mobil Oil Australia (MOA) is one of Australia's major
industrial companies with assets of about A$2 billion and over 2,000 employees.
MOA operates two petroleum refineries, one in Melbourne and the other in
Adelaide, a number of distribution terminals, coastal bulk plants in all
states and over 550 owned or leased service stations.
On the upstream side of the business, Mobil's exploration activities in
Australia began in the 1950s. In 1989, MEPA was formed to oversee Mobil's oil
and gas exploration and producing activities. MEPA holds a 35% interest in the
Griffin, Chinook and Scindian oil fields. Oil production from the Griffin field
complex began in January 1994 at up to 80,000 barrels per day, and gas
production started in June of the same year.
# # # 02/14/96
