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Memorandum - July 24, 2008

East of the Rockies - Bulletin 08-E145
Chevron has changed its posted prices as shown below:

Effective 7:00 a.m. on the date(s) indicated, and subject to change without notice and subject to the terms and conditions of its division orders or other contracts, Chevron will pay the following prices ($/bbl) for oil at 40.0° API and above, except as noted below, delivered into pipelines for its account into the custody of its authorized carrier or receiving agent. The posted prices for crude oil transported by truck or barge will be the following prices less appropriate trucking or barge cost. The posted prices for crude oil received off shore will be the following prices less appropriate transportation and quality costs to get the crude on shore. For information on Chevron's most recent posted prices, call Linda Johnson +1 832 854 4428.
For fax receipt problems call +1 832-854-2929.
For a voice recorded message of the posted prices each day, please call 832 854 3033.

Note: Effective January 1, 2008 Chevron will begin posting for Rocky Mountain Condensate.

* Prices are subject to a Gravity Adjustment Scale
East of the RockiesPriceChangeGvty
Adj*
Altamont Yellow Wax112.491.05B
Bonito Sour (Onshore)124.751.00A
Deepwater Sour (Onshore) (30°)118.751.00F,G
East Texas122.001.25none
Eugene Island Sour (Onshore)125.251.00A
Heavy Louisiana Sweet (Onshore)128.251.00A
Light Louisiana Sweet (Onshore)128.751.00A
New Mexico Intermediate122.251.25none
New Mexico Sour (34°)117.501.25none
North Texas Sweet122.251.25none
Oklahoma Sour117.501.25none
Oklahoma Sweet122.251.25none
Rocky Mountain Condensate104.491.05H
South Texas Light Sweet120.251.25none
Southwest Wyoming Sweet115.491.05E
Uinta Basin Black Wax111.491.05B
West Texas Intermediate122.251.25none
West Texas Sour (34°)117.501.25none
Western Colorado113.991.05B
Note: Prices in $/bbl

Measurement
The prices are based upon computation of quantities by mutually acceptable automatic measuring equipment in accordance with provisions of API Standard 1101 or from 100% tank tables with corrections of volume and gravity for temperature to 60°F in accordance with ASTM D-1250 and supplements thereto, if any, and with deductions for full sediment, water and other impurities. Only merchantable oil acceptable to the receiving agency designated by Chevron and containing not more than 1% sediment and water will be accepted.