Tullow Oil Provides Operational Update

Source: www.gulfoilandgas.com 7/11/2007, Location: Africa

Tullow Oil plc Provided Operational Update in respect of recent Production, Development and Exploration activities.

Exploration:Ghana - Mahogany discovery – recent technical work indicates that there is significant further upside potential above current market estimates and a material proportion of the trap is within the Deepwater Tano block. Accelerated Ghana programme – the Belford Dolphin drill ship has been secured to drill a further well in the Deepwater Tano block in August this year.

Uganda - Nzizi-2 – this appraisal well confirms the lateral extent of oil bearing reservoir sands and tests an additional accumulation of gas at 14mmscfd. Uganda – rig contracted to drill the Ngassa and Kingfisher-2 wells later this year.

Namibia - Kudu East appraisal campaign – the Kudu-8 well has commenced and is currently drilling at 2,652m. The well is intended to test the multi-tcf upside potential and is expected to reach the reservoir target at the end of July and start testing in August.

Production and Development:Working interest production averaged 69,700 boepd for the first half of 2007, 11% higher than the same period in 2006. Production across the portfolio has been close to expectation with the exception of the UK where delays to drilling programmes and the reallocation of capital, principally to Ghana and Uganda, have resulted in a reduction to 2007 production forecasts.

The recent West Espoir (Cote d’Ivoire) and Okume Complex (Equatorial Guinea) developments continue to deliver above expectation. The Thurne and Kelvin development projects in the UK are on schedule for first production in Q4 2007. Working interest production for the Group is currently 75,000 boepd and is now expected to average 72-75,000 boepd for 2007.


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