CORRECTING and REPLACING Amerada Hess Reports Estimated Results for the Fourth Quarter of 2005

The corrected release reads:

AMERADA HESS REPORTS ESTIMATED RESULTS FOR THE FOURTH QUARTER OF2005

Amerada Hess Corporation (NYSE: AHC) reported net income of $452million for the fourth quarter of 2005 compared with net income of$229 million for the fourth quarter of 2004. For the full year, netincome was $1,242 million compared with $977 million in 2004. See thefollowing page for a table of items affecting the comparability ofearnings between periods. The after-tax results by major operatingactivity in 2005 and 2004 were as follows:
Three months ended Year ended
December 31 December 31
------------------- -------------------
2005* 2004* 2005* 2004
---------- -------- ---------- --------
(In millions, except per share amounts)
Exploration and Production $298 $211 $1,058 $755
Marketing and Refining 229 93 515 451
Corporate (41) (36) (191) (85)
Interest expense (34) (39) (140) (151)
---------- -------- ---------- --------

Net income from continuing
operations $452 $229 $1,242 $970

Discontinued operations - - - 7
---------- -------- ---------- --------

Net income $452 $229 $1,242 $977
========== ======== ========== ========

Net income per share (diluted) $4.31 $2.22 $11.94 $9.57
========== ======== ========== ========

Weighted average number of
shares (diluted) 104.8 103.0 104.0 102.1
========== ======== ========== ========

* Unaudited

Exploration and Production earnings were $298 million in thefourth quarter of 2005 compared with $211 million in the fourthquarter of 2004. The Corporation's oil and gas production, on abarrel-of-oil equivalent basis, was 316,000 barrels per day in thefourth quarter of 2005 compared with 346,000 barrels per day in thefourth quarter of 2004. Hurricane activity in the Gulf of Mexicoreduced fourth quarter 2005 production by approximately 19,000 barrelsof oil equivalent per day. The remainder of the production decrease isprimarily due to increased maintenance activity in the North Sea.

In the fourth quarter of 2005, the Corporation's average worldwidecrude oil selling price, including the effect of hedging, was $34.09per barrel, an increase of $6.78 per barrel from the fourth quarter of2004. The Corporation's average United States natural gas sellingprice was $11.75 per Mcf in the fourth quarter of 2005, an increase of$5.92 per Mcf from the fourth quarter of 2004.

Marketing and Refining earnings were $229 million in the fourthquarter of 2005 compared with $93 million in the fourth quarter of2004. Refining earnings were $83 million in the fourth quarter of 2005compared with $36 million in the fourth quarter of 2004. The increasedRefining earnings reflect higher refined product margins. Marketingoperations generated earnings of $131 million in the fourth quarter of2005, compared with $64 million in the same period of 2004,principally reflecting higher margins on refined product sales,increased sales volumes and income of $25 million ($40 million beforeincome taxes) from the partial liquidation of prior year LIFOinventories.

The following items, on an after-tax basis, are included in netincome in the fourth quarter and full year of 2005 and 2004 (inmillions):
Three months ended Year ended
December 31 December 31
------------------ ------------------
2005 2004 2005 2004
-------- -------- -------- --------
Exploration and Production
--------------------------
Hurricane related costs $(12) $- $(26) $-
Gains from asset sales 30 21 41 54
Income tax adjustments - 19 11 19
Legal settlement - - 11 -
Accrued severance and office
costs - - - (9)
Marketing and Refining
----------------------
LIFO inventory liquidation 25 12 32 12
Charge related to customer
bankruptcy (8) - (8) -
Corporate
---------
Premiums on bond repurchases (19) - (26) -
Tax on repatriated earnings - - (72) -
Income tax adjustments - - - 13
Insurance accrual - (13) - (13)
-------- -------- -------- --------

$16 $39 $(37) $76
======== ======== ======== ========

The fourth quarter 2005 asset sales represent the disposal ofseveral non-producing properties in the United Kingdom. Marketing andRefining results in the fourth quarter of 2005 include income from thepartial liquidation of prior year LIFO inventories and a chargeresulting from the bankruptcy of a customer in the utility industry.In the fourth quarter of 2005, the Corporation repurchased $497million of bonds with maturities from 2006 to 2009 at a premium of $29million, before income taxes.

Net cash provided by operating activities was $1,840 million in2005 compared with $1,903 million in 2004. Capital and exploratoryexpenditures for the year 2005 amounted to $2,490 million of which$2,384 million related to exploration and production activities.Capital and exploratory expenditures for the year 2004 amounted to$1,650 million, including $1,563 million for exploration andproduction.

At December 31, 2005, cash and short-term investments totaled $325million compared with $877 million at December 31, 2004. TheCorporation's debt to capitalization ratio at December 31, 2005 was37.6% compared with 40.7% at the end of 2004. Total debt was $3,785million at December 31, 2005 and $3,835 million at December 31, 2004.
AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS)

Fourth Fourth Third
Quarter Quarter Quarter
2005 2004 2005
-------- -------- --------

Income Statement
----------------
Revenues and Non-operating Income
Sales and other operating revenues $ 7,059 $ 4,612 $ 5,769
Non-operating income
Equity in income of HOVENSA L.L.C. 67 21 151
Gains on asset sales 30 32 --
Other (10) 32 36
-------- -------- --------

Total revenues and non-operating
income 7,146 4,697 5,956
-------- -------- --------

Costs and Expenses
Cost of products sold 5,367 3,321 4,424
Production expenses 284 239 256
Marketing expenses 238 200 202
Exploration expenses, including dry holes
and lease impairment 86 83 91
Other operating expenses 37 48 31
General and administrative expenses 103 90 83
Interest expense 55 62 54
Depreciation, depletion and
amortization 258 275 251
-------- -------- --------

Total costs and expenses 6,428 4,318 5,392
-------- -------- --------

Income before income taxes 718 379 564
Provision for income taxes 266 150 292
-------- -------- --------

Net income $ 452 $ 229 $ 272
======== ======== ========

Preferred stock dividends 12 12 12
-------- -------- --------

Net income applicable to common
stockholders $ 440 $ 217 $ 260
======== ======== ========

Supplemental Income Statement Information
-----------------------------------------
Foreign currency gains, after-tax $ 2 $ (1) $ 2
Capitalized interest 23 13 22

Cash Flow Information
---------------------
Net cash provided by operating
activities (*) $ 289 $ 254 $ 484

Capital and Exploratory Expenditures
------------------------------------
Exploration and Production
United States $ 95 $ 124 $ 74
International 654 312 600
-------- -------- --------

Total Exploration and Production 749 436 674
Marketing and Refining 32 42 25
-------- -------- --------

Total Capital and Exploratory
Expenditures $ 781 $ 478 $ 699
======== ======== ========

Exploration expenses charged to income
included above
United States $ 28 $ 32 $ 30
International 29 17 12
-------- -------- --------

$ 57 $ 49 $ 42
======== ======== ========

(*) Includes changes in working capital

AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS)

Year
-----------------

2005 2004
-------- --------
Income Statement
----------------
Revenues and Non-operating Income
Sales and other operating revenues $22,747 $16,733
Non-operating income
Equity in income of HOVENSA L.L.C. 376 244
Gains on asset sales 48 55
Other 84 94
-------- --------

Total revenues and non-operating income 23,255 17,126
-------- --------

Costs and Expenses
Cost of products sold 17,041 11,971
Production expenses 1,007 825
Marketing expenses 842 737
Exploration expenses, including dry holes and
lease impairment 397 287
Other operating expenses 136 195
General and administrative expenses 357 342
Interest expense 224 241
Depreciation, depletion and amortization 1,025 970
-------- --------

Total costs and expenses 21,029 15,568
-------- --------

Income from continuing operations before income
taxes 2,226 1,558
Provision for income taxes 984 588
-------- --------

Income from continuing operations 1,242 970

Discontinued operations -- 7
-------- --------

Net income $ 1,242 $ 977
======== ========

Preferred stock dividends 48 48
-------- --------

Net income applicable to common stockholders $ 1,194 $ 929
======== ========

Supplemental Income Statement Information
-----------------------------------------
Foreign currency gains, after-tax $ 18 $ 6
Capitalized interest 80 54

Cash Flow Information
---------------------
Net cash provided by operating activities (*) $ 1,840 $ 1,903

Capital and Exploratory Expenditures
------------------------------------
Exploration and Production
United States $ 353 $ 446
International 2,031 1,117
-------- --------

Total Exploration and Production 2,384 1,563
Marketing and Refining 106 87
-------- --------

Total Capital and Exploratory Expenditures $ 2,490 $ 1,650
======== ========

Exploration expenses charged to income included
above
United States $ 89 $ 89
International 60 40
-------- --------

$ 149 $ 129
======== ========

(*) Includes changes in working capital

AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS)

December 31 December 31
2005 2004
----------- -----------
Balance Sheet Information
-------------------------

Cash and short-term investments $ 325 $ 877
Other current assets 4,965 3,458
Investments 1,389 1,254
Property, plant and equipment - net 9,512 8,505
Other assets 2,924 2,218
----------- -----------

Total assets $ 19,115 $ 16,312
=========== ===========

Current portion of long-term debt $ 26 $ 50
Other current liabilities 6,421 4,647
Long-term debt 3,759 3,785
Deferred liabilities and credits 2,623 2,233
Stockholders' equity excluding other
comprehensive income (loss) 7,813 6,621
Accumulated other comprehensive income (loss) (1,527) (1,024)
----------- -----------

Total liabilities and stockholders' equity $ 19,115 $ 16,312
=========== ===========

AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
EXPLORATION AND PRODUCTION EARNINGS (UNAUDITED)
(IN MILLIONS)

Fourth Quarter 2005
------------------------------
United
States International Total
------- -------------- -------


Sales and other operating revenues $274 $826 $1,100
Non-operating income (expenses) 3 28 31
------- -------------- -------
Total revenues 277 854 1,131
------- -------------- -------
Costs and expenses
Production expenses, including related
taxes 70 214 284
Exploration expenses, including dry
holes and lease impairment 34 52 86
General, administrative and other
expenses 21 22 43
Depreciation, depletion and
amortization 24 216 240
------- -------------- -------
Total costs and expenses 149 504 653
------- -------------- -------

Results of operations before income
taxes 128 350 478
Provision for income taxes 43 137 180
------- -------------- -------
Results of operations $85 $213 $298
======= ============== =======

Fourth Quarter 2004
------------------------------
United
States International Total
------- -------------- -------


Sales and other operating revenues $278 $651 $929
Non-operating income (expenses) 28 19 47
------- -------------- -------
Total revenues 306 670 976
------- -------------- -------
Costs and expenses
Production expenses, including related
taxes 55 184 239
Exploration expenses, including dry
holes and lease impairment 35 48 83
General, administrative and other
expenses 8 28 36
Depreciation, depletion and
amortization 52 210 262
------- -------------- -------
Total costs and expenses 150 470 620
------- -------------- -------

Results of operations before income
taxes 156 200 356
Provision for income taxes 50 95 145
------- -------------- -------
Results of operations $106 $105 $211
======= ============== =======

Third Quarter 2005
------------------------------
United
States International Total
------- -------------- -------


Sales and other operating revenues $275 $767 $1,042
Non-operating income (expenses) -- 16 16
------- -------------- -------
Total revenues 275 783 1,058
------- -------------- -------
Costs and expenses
Production expenses, including related
taxes 76 180 256
Exploration expenses, including dry
holes and lease impairment 40 51 91
General, administrative and other
expenses 13 19 32
Depreciation, depletion and
amortization 36 200 236
------- -------------- -------
Total costs and expenses 165 450 615
------- -------------- -------

Results of operations before income
taxes 110 333 443
Provision for income taxes 41 167 208
------- -------------- -------
Results of operations $69 $166 $235
======= ============== =======

AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
EXPLORATION AND PRODUCTION EARNINGS (UNAUDITED)
(IN MILLIONS)

Year 2005
------------------------------
United
States International Total
------- -------------- -------


Sales and other operating revenues $1,097 $3,113 $4,210
Non-operating income (expenses) (1) 95 94
------- -------------- -------
Total revenues 1,096 3,208 4,304
------- -------------- -------
Costs and expenses
Production expenses, including related
taxes 253 754 1,007
Exploration expenses, including dry
holes and lease impairment 233 164 397
General, administrative and other
expenses 74 66 140
Depreciation, depletion and
amortization 145 820 965
------- -------------- -------
Total costs and expenses 705 1,804 2,509
------- -------------- -------

Results of operations before income
taxes 391 1,404 1,795
Provision for income taxes 141 596 737
------- -------------- -------
Results of operations $250 $808 $1,058
======= ============== =======

Year 2004
------------------------------
United
States International Total
------- -------------- -------

Sales and other operating revenues $909 $2,507 $3,416
Non-operating income (expenses) 26 64 90
------- -------------- -------
Total revenues 935 2,571 3,506
------- -------------- -------
Costs and expenses
Production expenses, including related
taxes 198 627 825
Exploration expenses, including dry
holes and lease impairment 135 152 287
General, administrative and other
expenses 57 93 150
Depreciation, depletion and
amortization 147 771 918
------- -------------- -------
Total costs and expenses 537 1,643 2,180
------- -------------- -------

Results of operations before income
taxes 398 928 1,326
Provision for income taxes 141 430 571
------- -------------- -------
Results of operations $257 $498 $755
======= ============== =======

AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL OPERATING DATA
(IN THOUSANDS, EXCEPT FOR AVERAGE SELLING PRICES)

Fourth Fourth Third
Quarter Quarter Quarter
2005 2004 2005
------- ------- -------

Operating Data
--------------
Net Production Per Day
----------------------
Crude oil - barrels
United States 37 50 42
Europe 105 114 102
Africa, Asia and other 76 66 74
------- ------- -------

Total 218 230 218
======= ======= =======

Natural gas liquids - barrels
United States 9 14 11
Europe 4 6 2
------- ------- -------

Total 13 20 13
======= ======= =======

Natural gas - mcf
United States 112 178 125
Europe 254 316 218
Africa, Asia and other 147 82 141
------- ------- -------

Total 513 576 484
======= ======= =======

Barrels of oil equivalent 316 346 312
======= ======= =======

Average Selling Price (including hedging)
-----------------------------------------
Crude oil - per barrel
United States $30.95 $29.92 $34.86
Europe 33.50 25.98 34.59
Africa, Asia and other 36.21 27.65 37.75

Natural gas liquids - per barrel
United States $48.67 $33.31 $40.90
Europe 44.60 37.15 36.77

Natural gas - per mcf
United States $11.75 $5.83 $8.53
Europe 6.91 4.42 4.12
Africa, Asia and other 4.04 4.19 4.12

Average Selling Price (excluding hedging)
-----------------------------------------
Crude oil - per barrel
United States $54.85 $43.20 $58.32
Europe 53.10 42.55 59.47
Africa, Asia and other 54.77 41.33 59.56

Natural gas liquids - per barrel
United States $48.67 $33.31 $40.90
Europe 44.60 37.15 36.77

Natural gas - per mcf
United States $11.75 $6.08 $8.53
Europe 6.91 4.42 4.12
Africa, Asia and other 4.04 4.19 4.12

AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL OPERATING DATA
(IN THOUSANDS, EXCEPT FOR AVERAGE SELLING PRICES)

Year
---------------
2005 2004
------- -------

Operating Data
--------------
Net Production Per Day
----------------------
Crude oil - barrels
United States 44 44
Europe 110 119
Africa, Asia and other 74 65
------- -------

Total 228 228
======= =======

Natural gas liquids - barrels
United States 12 12
Europe 4 6
------- -------

Total 16 18
======= =======

Natural gas - mcf
United States 137 171
Europe 274 319
Africa, Asia and other 133 85
------- -------

Total 544 575
======= =======

Barrels of oil equivalent 335 342
======= =======


Average Selling Price (including hedging)
-----------------------------------------
Crude oil - per barrel
United States $32.64 $27.42
Europe 33.13 26.18
Africa, Asia and other 34.16 27.19

Natural gas liquids - per barrel
United States $38.50 $29.50
Europe 37.13 27.44

Natural gas - per mcf
United States $7.93 $5.18
Europe 5.29 3.96
Africa, Asia and other 4.02 3.90

Average Selling Price (excluding hedging)
-----------------------------------------
Crude oil - per barrel
United States $51.16 $38.56
Europe 52.22 37.57
Africa, Asia and other 51.97 37.16

Natural gas liquids - per barrel
United States $38.50 $29.50
Europe 37.13 27.44

Natural gas - per mcf
United States $7.93 $5.53
Europe 5.29 3.96
Africa, Asia and other 4.02 3.90

AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
HEDGED PRICES AND VOLUMES

Brent Crude Oil
------------------------------
Maturity Average Thousands of
Selling Price barrels per day
-------- -------------- ---------------
2006 $28.10 30
2007 25.85 24
2008 25.56 24
2009 25.54 24
2010 25.78 24
2011 26.37 24
2012 26.90 24

Note: There were no WTI crude oil or natural gas hedges outstanding at
December 31, 2005.


AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
MARKETING AND REFINING SUPPLEMENTAL FINANCIAL AND OPERATING DATA


Fourth Fourth Third
Quarter Quarter Quarter
2005 2004 2005
-------- -------- --------

Financial Information (in millions)
----------------------------------

Marketing and Refining Earnings
-------------------------------
Income before income taxes $ 358 $ 139 $ 202
Provision for income taxes 129 46 77
-------- -------- --------

Marketing and Refining Earnings $ 229 $ 93 $ 125
======== ======== ========

Summary of Marketing and Refining
Earnings
---------------------------------
Refining $ 83 $ 36 $ 144
Marketing 131 64 (22)
Trading 15 (7) 3
-------- -------- --------

Total Marketing and Refining
Earnings $ 229 $ 93 $ 125
======== ======== ========

----------------------------------------------------------------------

Operating Data (in thousands unless noted)
-----------------------------------------

Refined Product Sales (barrels per day)
---------------------------------------
Gasoline 218 181 226
Distillates 170 152 104
Residuals 78 56 43
Other 53 41 37
-------- -------- --------

Total 519 430 410
======== ======== ========

Refinery Throughput (barrels per day)
-------------------------------------
HOVENSA - Crude runs 482 472 413
HOVENSA - AHC 50% share 241 236 206
Port Reading 64 55 62

--------------------
Refinery Utilization Refinery Capacity
-------------------- -----------------
HOVENSA (thousands of barrels
per day)
Crude 500 96.3% 94.4% 82.5%*
FCC 150 87.1% 86.2% 89.7%
Coker 58 85.3% 84.1% 92.4%
Port Reading 65 98.5% 89.0% 95.5%
---------------------

* Reflects reduced utilization from scheduled maintenance.

Retail Marketing
----------------
Number of retail stations (a) 1,354 1,254 1,358
Convenience store revenue (in
millions) (b) $ 241 $ 228 $ 260
Average gasoline volume per
station (gallons per month) (b) 199 194 211


(a) Includes company operated, branded/dealer and Wilco-Hess.
(b) Company operated only.


AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
MARKETING AND REFINING SUPPLEMENTAL FINANCIAL AND OPERATING DATA


Year
-----------------------

2005 2004
----------- -----------

Financial Information (in millions)
-----------------------------------

Marketing and Refining Earnings
-------------------------------
Income before income taxes $ 813 $ 610
Provision for income taxes 298 159
----------- -----------

Marketing and Refining Earnings $ 515 $ 451
=========== ===========

Summary of Marketing and Refining Earnings
------------------------------------------
Refining $ 346 $ 302
Marketing 136 112
Trading 33 37
----------- -----------

Total Marketing and Refining Earnings $ 515 $ 451
=========== ===========

----------------------------------------------------------------------

Operating Data (in thousands unless noted)
------------------------------------------

Refined Product Sales (barrels per day)
---------------------------------------
Gasoline 213 193
Distillates 136 140
Residuals 64 58
Other 43 37
----------- -----------

Total 456 428
=========== ===========

Refinery Throughput (barrels per day)
-------------------------------------
HOVENSA - Crude runs 461 484
HOVENSA - AHC 50% share 231 242
Port Reading 55 52

-------------------
Refinery Utilization Refinery Capacity
-------------------- ----------------
HOVENSA (thousands of barrels
per day)
Crude 500 92.2%* 96.7%
FCC 150 81.9%* 92.9%
Coker 58 92.8% 94.5%
Port Reading 65 85.3%* 83.4%**
--------------

* Reflects reduced utilization from scheduled maintenance.
** Includes a storm- related interruption.

Retail Marketing
----------------
Number of retail stations (a) 1,354 1,254
Convenience store revenue (in millions) (b) $ 973 $ 932
Average gasoline volume per station
(gallons per month) (b) 204 191


(a) Includes company operated, branded/dealer and Wilco-Hess.
(b) Company operated only.