tullow oil plc company profile 2017 february

Tullow Oil is a leading independent oil and gas exploration and production company. Our focus is on finding and monetising oil in Africa and South America. Our key activities include targeted exploration and appraisal, selective development projects and growing our low-cost West Africa oil production. We maintain access to diverse sources of funding for our activities and adopt a prudent hedging strategy to mitigate the oil price risk.

18COUNTRIES

100+LICENCES

253,034ACREAGE (SQ KM)

68PRODUCING FIELDS

Our portfolio of over 100 licences spans 18 countries and is organised into three Business Delivery Teams. We are headquartered in London and have corporate offices in Ireland, Ghana, Kenya, Uganda and South Africa. Our shares are listed on the London, Irish and Ghana Stock Exchanges. The Group is a constituent of the FTSE 250 index.

In West Africa, Tullow has significant low-cost oil production from Ghana as well as a portfolio of non-operated assets in five other countries. Tullow’s major producing fields in Ghana are the Jubilee and TEN fields which came on stream in 2010 and 2016 respectively. Tullow’s portfolio of non-operated production assets are held in Gabon, Equatorial Guinea, Côte d’Ivoire, Congo (Brazzavile) and Mauritania.

Read more on page 3

In East Africa, Tullow is focused on commercialising the significant resource base the Group has discovered in Uganda and Kenya. In Uganda, Tullow has held licence interests in the Lake Albert Rift Basin since 2004. Around 1.7 billion barrels of gross recoverable oil resources have been discovered following a successful drilling programme across the basin. Tullow then took its knowledge and understanding of the geology in Uganda across into neighbouring Kenya.

Since 2012, Tullow’s successful exploration and appraisal drilling campaigns have resulted in the opening of a second new East Africa tertiary rift play in Kenya’s South Lokichar Basin. Exploration and appraisal in the basin to date underpins a mean gross resource estimate of 750 mmbo.

Read more on page 4

Our long-term strategy is to find oil through exploration which we then seek to monetise through production or the sale or farm down of assets. The New Ventures team is responsible for Tullow’s frontier exploration and appraisal activity across Africa and South America.

Tullow has a high impact portfolio of exploration assets in Suriname, French Guiana, Namibia, Mauritania, Jamaica, Uruguay and Zambia. Tullow continues to replenish and high-grade its exploration portfolio, and believes that this should give the Group significant low-cost opportunities for the future.

Read more on page 5

COMPANY PROFILEFEBRUARY 2017

Learn more about us online at www.tullowoil.com

2016 Full Year Results Summary FY 2016 FY 2015 Change

Sales revenue ($m) 1,270 1,607 -21%

Gross profit ($m) 547 591 - 8%

Operating loss ($m) (755) (1,094) 31%

Loss before tax ($m) (908) (1,297) 30%

Loss after tax ($m) (597) (1,037) 42%

Operating cash flow before working capital ($m) 774 967 -20%

Interim dividend per share (p) - - -

2016 Full Year Results Highlights

• Revenue of $1.3 billion; post tax loss of $0.6 billion after write-offs and impairments. Operating cash flow of $0.8 billion.

• Year-end 2016 net debt of $4.8 billion with significant facility headroom and free cash of $1.0 billion. During the year, $300 million of convertible bonds issued; Corporate Facility extended to April 2018; $345 million RBL accordion secured.

• On 7 February 2017 the Corporate Facility was extended by a further year to April 2019.

• 2016 capex of $0.9 billion; 2017 capex forecast of $0.5 billion including $125 million to be offset by Uganda farm-down deal.

• West Africa net working interest oil production, including production-equivalent insurance payments, averaged 65,500 bopd in 2016 and in 2017 is expected to average between 78,000 and 85,000 bopd.

• TEN development delivered on time and on budget in August 2016; 2017 gross forecast of 50,000 bopd. Drilling is expected to resume in 2018 after the ITLOS ruling which is expected in late 2017.

• Jubilee field 2017 net production forecast of 36,300 bopd, including insured barrels; Turret Remediation Project making good progress with costs being offset by insurance payments.

• Uganda deal provides upfront cash and deferred payments to cover upstream and pipeline capex to first oil and beyond.

• Kenya exploration and appraisal programmes continue to support resource growth; Erut-1 oil discovery de-risks additional prospects in the north of the South Lokichar Basin.

• New Ventures activity delivers acreage in Zambia and Guyana; 2017 activity includes high impact Araku-1 well in Suriname and seismic campaigns in Mauritania, Kenya, Ghana, Jamaica, Uruguay and Guyana to identify future drilling candidates.

“The clear highlight of 2016 was delivering Ghana’s second major oil and gas development, the TEN fields, on time and on budget. Production from TEN, alongside our other West African oil production, has provided Tullow with positive free cash flow and enabled us to begin the important process of deleveraging our balance sheet. As we focus our free cash flow primarily on reducing our debt, capital discipline remains critical. We have made excellent progress with our East African developments and are building a high quality exploration portfolio to grow our business. As I move to become Chairman of the Group and hand over to Paul McDade, Tullow has the right assets and expertise to take full advantage of the opportunities ahead.”

Aidan Heavey, Chief Executive Officer

2017FINANCIAL CALENDAR

26 APRILAGM & Trading Update

28 JUNETrading Statement and

Operational Update

26 JULY2017 Half Year Results

2016 PRODUCTION

71,700 boepdRESERVES & RESOURCES

1,194 mmboe2016 REVENUE

$1,270m2016 CAPITAL EXPENDITURE

$857m

2016 FULL YEAR RESULTS OVERVIEW

West Africa (incl. Europe)

$1,270M54%

46%

$86M

$77M

$694MWA

65,500

EUR6,200

New Ventures East Africa

02 Tullow Oil plc - Company Profile - February 2017 www.tullowoil.com

FINANCIAL AND OPERATIONAL HIGHLIGHTS

The West Africa Business Delivery Team focuses on Tullow’s production and development projects in West Africa. This includes Tullow’s two flagship operated assets, the Jubilee and TEN fields in Ghana, and a portfolio of non-operated production assets in five further countries across the region. The West Africa Business Delivery Team also manages the Group’s UK and Netherlands gas production, which is part of an ongoing divestment plan.

Tullow’s history began in North-West Africa when it acquired its first African licence in Senegal in 1986. Since then the region has grown to become a core area of Tullow’s operations. The transformational acquisition of Energy Africa in 2004, added a further five producing countries to the portfolio.

The Jubilee field, in Ghana, is Tullow’s largest producing asset and along with TEN, which came on stream in August 2016 and the Group’s portfolio of non-operated assets, the West Africa business unit generates significant low-cost production and increased cash flows for the business.

GhanaTullow has interests in two licences offshore Ghana. In 2007, two successful exploration wells discovered the substantial Jubilee field, which straddles the Deepwater Tano and West Cape Three Points blocks. In November 2010, the Jubilee field was brought on stream having been successfully developed in 40 months by Tullow (the operator) and its Partners.

In February 2016, an issue with the turret bearing of the Jubilee FPSO Kwame Nkrumah was identified and Tullow and its JV Partners established that the preferred long-term solution is to convert the FPSO to a permanently spread-moored vessel, with offtake through a new deep-water offloading buoy. The first phase of this work, involving the installation of a stern anchoring system, is expected to be completed in February 2017. The next phase of the project will involve modifications to the turret systems for long-term spread-moored operations. The capital costs associated with the remediation works, the lost revenue resulting from the shutdown period, and the increased operating costs are expected to be covered by the Joint Venture Hull and Machinery insurance policy and Tullow’s corporate Business Interruption insurance policy.

In 2016, Jubilee production averaged 73,700 bopd (26,000 bopd net). In addition, the Group received insurance payments which equates to 4,600 bopd of net equivalent production under Tullow’s corporate Business Interruption insurance to cover downtime associated with the turret issue. Tullow expects 2017 production from the Jubilee field to average 68,500 bopd (net: 24,300 bopd), assuming 12 weeks of shutdown associated with the next phase of remediation works. Tullow’s corporate Business Interruption insurance policy is expected to

reimburse Tullow for the equivalent of 12,000 bopd of annualised net production for this shutdown period, increasing Tullow’s effective net production to around 36,300 bopd in 2017.

In December 2015, the Partners submitted the Greater Jubilee Full Field Development Plan, relating to a long-term investment programme across the Jubilee field and the Mahogany and Teak areas. Tullow has sought to address comments made by the Government of Ghana on the plan and in light of the current Turret Remediation Project, approval of the plan by the Government is now expected in mid-2017.

Tullow’s second development in Ghana, the TEN Project, came on stream in August 2016 and gross annualised working interest production in 2016 averaged 14,600 bopd (net: 6,900 bopd).

Eleven production wells have been drilled which are connected through subsea infrastructure to an FPSO vessel with a capacity of 80,000 bopd, moored in approximately 1,500 metres of water. At present, no additional wells can be drilled due to a maritime border dispute between Ghana and Côte d’Ivoire, and therefore Tullow is managing the existing wells in a prudent and sustainable manner. As a result, Tullow expects production from TEN to be around 50,000 bopd (net: 23,600 bopd) in 2017, although work continues to evaluate ways to increase production. A final ruling on the maritime border dispute is anticipated in the fourth quarter of 2017 and drilling is expected to resume in 2018.

Non-operated & Europe productionTullow has oil development and production activities in Congo Brazzaville, Côte d’Ivoire, Equatorial Guinea, Gabon and Mauritania. Average daily net production in 2016 from these fields was 27,800 bopd. Due to low oil prices, capital expenditure was reduced substantially across a number of these fields in 2016. While this reduced investment helps maximise near-term cashflow it does impact the rate of production decline, and as a result 2017 forecast production across the West African non-operated portfolio is expected to be around 22,000 bopd net. There is flexibility to increase capital investment in the medium term to offset production decline in these mature assets, as market conditions improve. Tullow also has gas production in the UK and the Netherlands which averaged 6,200 boepd in 2016.

WEST AFRICA (INCL EUROPE PRODUCTION)

7COUNTRIES

54LICENCES

TeNFIRST OIL SUCCESFULLY DELIVERED AUGUST 2016

67,100 BOEPDPRODUCTION IN FY 2016

Learn more about us online at www.tullowoil.com/operations


TULLOW AT A GLANCE

The East Africa Business Delivery Team is responsible for realising value from the significant oil discoveries made in Uganda and Kenya to date. The team is focused on progressing the development of these discoveries and continued exploration activity across the Group’s extensive acreage position.

KenyaTullow’s onshore acreage in Kenya includes Blocks 10BA, 10BB, 12A, 12B & 13T. Tullow operates all five of these blocks, with a 50% interest in four of them and a 40% interest in Block 12A.

The acreage covers the Kenya Rift Basins where a significant number of leads and prospects have been identified. Exploration drilling commenced in January 2012 with the Ngamia-1 wildcat well in Block 10BB which made a significant oil discovery. The result demonstrated that substantial oil generation has occurred in the South Lokichar Basin, which is one of many basins identified on the acreage.

This basin opener has since been followed by further exploration success with a total of 10 discoveries being made with a mean gross resource estimate of 750 mmbo in the basin. Significant remaining exploration prospectivity supports an upside potential of 1 billion barrels of oil and further exploration drilling to test this upside commenced in December 2016. The first well in a planned four-well programme was Erut-1, located at the northern limit of the basin. The well discovered a gross oil interval of 55 metres with 25 metres of net oil pay, proving that oil has migrated to the northern limit of the South Lokichar basin and de-risking multiple prospects in this area. The drilling programme could be extended by up to four additional wells, depending upon the results from the initial wells.

Good progress continues to be made on the upstream development in Kenya and water injection trials continue, Environmental and Social Impact Assessments (ESIA) baseline surveys are nearing completion and Front End Engineering Design (FEED) is expected to commence in the second half of 2017.

A Joint Development Agreement between the Government and Tullow and its Partners is being finalised, setting the framework for the pipeline development from the South Lokichar Basin to the port of Lamu.

An Early Oil Pilot Scheme (EOPS), which involves the transportation of early South Lokichar oil production to Mombasa by road, has been sanctioned by the Joint Venture Partners. The EOPS will use existing upstream wells and oil storage tanks to initially produce approximately 2,000 bopd gross in 2017. This early pilot scheme will provide important information to assist in full field development planning.

UgandaSince entering the Lake Albert Rift Basin in 2004 through the acquisition of Energy Africa, Tullow has drilled over 80 wells and discovered 1.7 billion barrels of gross recoverable resources. In January 2017, Tullow announced that it had agreed a farm-down of its assets in Uganda to Total. Under the Sale and Purchase Agreement, Tullow has agreed to transfer 21.57% of its 33.33% Uganda interests to Total for a total consideration of $900 million. The consideration is split into $200 million in cash, payable at various milestones, and the remaining $700 million is in deferred consideration. The deferred consideration is payable to Tullow as the upstream and pipeline projects progress and Tullow expects it to cover its share of upstream and pipeline development capex to first oil and beyond.

Upon completion, which is expected in 2017, the farm-down will leave Tullow with an 11.76% interest in the upstream and pipeline projects. This is expected to reduce to a 10% interest in the upstream project when the Government of Uganda formally exercises its right to back-in.

The development in Uganda continues to progress following the Government of Uganda’s decision to route an oil export pipeline through Tanzania to the port of Tanga. Production Licences have been awarded and the Government of Uganda has also made significant progress on the constitution of both the Petroleum Authority to regulate the oil industry and the Uganda National Oil Company which will be the Government representative in the Uganda Joint Venture.

The first phase of the upstream ESIA has been completed with the second phase in progress. FEED for both the upstream and pipeline are expected to commence in February 2017. Overall, the Government and JV Partners continue to aspire to achieve FID by the end of 2017, with first oil expected to occur around three years after.

EAST AFRICA

2COUNTRIES

17LICENCES

2.45 BN BARRELS OF OIL

DISCOVERED IN KENYA AND UGANDA

deVeLopmeNTPLANS PROGRESSING

50,344 sq kmACREAGE



TULLOW AT A GLANCE

The New Ventures Business Delivery Team is responsible for Tullow’s frontier exploration and appraisal activity across Africa and South America. The team is tasked with managing and replenishing Tullow’s exploration portfolio with high-potential prospects and finding high value oil at low-costs, in areas with commercially attractive licence terms.

Tullow continues to actively manage its New Ventures portfolio through both licence acquisitions and farm downs of existing acreage to optimise the allocation of exploration expenditure. Notwithstanding a lower exploration budget, Tullow continues to successfully replenish and high-grade its exploration portfolio, and believes that the portfolio should give the Group significant low-cost opportunities for the future.

AfricaTullow has New Ventures exploration interests in Mauritania, Namibia, and most recently Zambia. In June 2016, the Group extended its East African rift play acreage through the award of Petroleum Licence 28, onshore Zambia, giving the Group access to three further unexplored basins. Tullow initially plans to acquire an FTG survey in Zambia in 2017 and if results are positive, the Group will then acquire a 2D seismic survey over the block.

Tullow is focused on exploring in low-cost, shallow water acreage and in both Mauritania and Namibia. The team has shifted its attention to shelf-edge plays and continues to asses a number of leads and prospects. The Group is planning to acquire 3D seismic offshore Mauritania in June 2017.

South AmericaTullow has significant exploration acreage in South America, with offshore exploration licences in Guyana, Suriname, Uruguay and Jamaica. The region continues to be an area of strong interest for Tullow and other industry parties. Tullow is particularly focused on offshore low-cost, light oil plays which can be targeted with simple wells.

Plans are ongoing to drill the high impact Araku prospect (Tullow: 30%), offshore Suriname, in the second half of 2017. This prospect is a large structural trap which has a resource potential estimated at over 500 mmbo. It has been significantly de-risked by a 3D seismic survey carried out in 2015, which identified geophysical characteristics that are consistent with potential oil or gas effects in the target reservoirs. The well is expected to cost $14 million net to drill.

In Guyana, Tullow and its Partners continue to evaluate and map prospectivity in the offshore Kanuku and Orinduik licences. The Orinduik licence is immediately up-dip of the significant Liza-1 discovery made by Exxon in 2015. A 6,000 sq km 3D seismic survey is

planned on both the Kanuku and Orinduik licences in 2017.

Offshore Uruguay, a 2,500 sq km 3D seismic programme commenced in January 2017 to capture data over high-quality leads identified in Block 15 in the Pelotas Basin.

In Jamaica, a 2D seismic survey has been completed over the 32,056 sq km Walton Morant licence and results will delineate potential plays in shallow water. Tullow will acquire a further 680 km of 2D seismic data in 2017, before considering the acquisition of a 3D seismic survey.

NEW VENTURES

9COUNTRIES

31LICENCES

186,505 sq kmACREAGE

ARAkUWELL TO BE DRILLED IN

SURINAME IN 2H 2017



TULLOW AT A GLANCE

OUR BUSINESS MODEL & STRATEGYThe components of our business model show the different parts of the Group that create value and are necessary to run our business.

How we create valueWe create value over the business cycle by finding oil and selling oil. To achieve this we must execute exploration campaigns, deliver selective development projects, maintain our production and ensure we are suitably financed through a mix of diverse funding options and portfolio management. These elements are the basis of our strategy, which is summarised below.

EXPLORATION & APPRAISALExecute high-impact E&A programmes.

DEVELOPMENT & PRODUCTIONSafely deliver selective development projects. All major projects and production operations focus on increasing cash flow and commercial reserves.

FINANCE & PORTFOLIO MANAGEMENTContinually manage financial and business assets to enhance our portfolio, replenish upside and support funding needs.

RESPONSIBLE OPERATIONSAchieve safe and sustainable operations, minimise our adverse environmental and social impacts, and achieve the highest standards of health and safety.

GOVERNANCE & RISK MANAGEMENTAchieve strong governance across all Tullow activities and maintain an appropriate balance between risk and reward.

ORGANISATION & CULTUREBuild a strong unified team with excellent commercial, technical and financial skills and entrepreneurial flair.

SHARED PROSPERITYCreate sustainable, transparent and tangible benefits from the development of oil in host countries.

How we run our businessOur business model addresses the fundamentals that we must have in place to manage our risks and help us deliver our strategy. These include: sustainable operations; protecting our people, communities and environment; high standards of governance coupled with strong and effective risk management; an engaged multi-disciplined, diverse and entrepreneurial team; and making a positive and lasting contribution where we operate.

Our strategyOur long-term strategy is to find oil through exploration which we then seek to monetise through production or the sale of assets. Exploration success gives us options to monetise assets and maximise value at various points in the cycle. We selectively develop the oil we find, focusing on world-class development projects that are economically viable and will return sustainable future cash flows. As and when surplus cash is generated, a decision is made to either reinvest this cash into additional operational activities, pay down debt or return cash to shareholders.

8 Tullow Oil plc 2014 Annual Report and Accounts

Strategic Report

OUR BUSINESS MODEL

Tullow is a leading global independent exploration and production company. Our business model shows the parts of the Group that work together

to run our business and create value.

HOW WE RUN OURBUSINESS

How we create value We create value in two ways: we find oil and we sell oil. To achieve this we execute successful exploration campaigns, deliver selective development projects, maintain our production and ensure we are suitably financed through a mix of diverse funding options and portfolio management. These elements are the basis of our strategy which is explained in detail on page 14.

How we run our businessOur business model addresses the fundamentals that we must have in place to manage our risks and help us deliver our strategy. These include strong and effective risk management, high standards of governance, transparency and anti-corruption, developing a multi- disciplined and diverse entrepreneurial team and making a positive and lasting contribution where we operate.

WHAT DIFFERENTIATES TULLOW?The skills, experience and reputation we call upon across the seven elements of our business model are what we believe sets Tullow apart from its peers.

SUSTAINABLE LONG-TERM

VALUE GROWTH

EXPLORATION & APPRAISAL

FINANCE & PORTFOLIO

MANAGEMENT

RESPONSIBLE OPERATIONS

SHARED PROSPERITY

GOVERNANCE & RISK

MANAGEMENT

ORGANISATION & CULTURE

DEVELOPMENT & PRODUCTION

HOW WE CREATE VALUE

HOW WE RUN OUR BUSINESS

Area of operations What differentiates us How we measure success

Exploration & Appraisal Execute high-impact E&A programmes.

> page 32

• An industry leading acreage position• Discoveries to date provide 4 billion boe risked upside potential• Strong track record with five new basins opened in the last nine years• Centre of excellence provides advanced geophysical capability

• Finding costs per boe• New basin openings• Resource growth and portfolio

replenishment

Development & ProductionDeliver selective development projects. Ensure all major projects and production operations focus on increasing cash flow and commercial reserves.

> page 34

• A portfolio of world-class assets and best team of people• A focus on developing high-margin oil from our own discoveries• A track record of delivering major developments on time and on budget• Our expertise in sustaining mature, low-cost production

• Operational targets• Safe delivery of all projects

on time and within budget

Finance & Portfolio ManagementContinually manage financial and business assets to enhance our portfolio, replenish upside and support funding needs.

> page 36

• We are well funded with sufficient facility headroom• Financial discipline is key to our decision making• We do not have any near-term maturities in our debt profile• Significant hedging programme in place• Strong, long-term relationships with our banks

• Operating cash flow; cash operating costs per boe

• Funding; debt profile; gearing • Capital expenditure and cost

management targets• Realised commodity prices

Responsible OperationsAchieve safe and sustainable operations, minimise our environmental and social impacts, and achieve the highest standards of health and safety.

> page 38

• We have an integrated management approach to technical, social, safety, health and environmental risk across all operations

• We have zero tolerance of any unsafe or illicit activities• We manage the EHS risks of our suppliers through out contracts and

supply chain process

• Continued operations with minimal disruption

• Safety, Sustainability & External Affairs scorecard

Governance & Risk ManagementAchieve strong governance across all Tullow activities and maintain an appropriate balance between risk and reward.

> page 40

• A named Executive is responsible for designated strategic risks• The recently formed Executive Committee supports the Executive team• We have over 25 years of experience in Africa• We have zero tolerance of bribery and corruption and a transparent contracting process• Our reputation that host governments value when awarding licence awards

• Aligned Group-wide risk management and assurance

• Code of conduct training and certification

• Compliance issues, whistle blowing calls and investigations

Organisation & CultureBuild a strong unified team with excellent commercial, technical and financial skills and entrepreneurial flair.

> page 46

• Aidan Heavey, our founding CEO, leads the Company and instils an entrepreneurial culture

• 72% engagement in staff and low staff turnover• All employees are given the opportunity to participate in employee share plans

• Recruitment and retention of key roles

• Results of annual engagement survey

Shared Prosperity Create sustainable, transparent and tangible benefits from the presence of oil in host countries.

> page 48

• We have a long-term view• 83% of our permanent staff in Africa are nationals• We recognise the strategic benefits of maximising local suppliers;

and have a requirement for local content in our international contracts• Significant investment in capacity building, technology and skills transfer

for local people and companies

• Total economic contribution to countries where we operate

• Direct and indirect employment • Local content


BUSINESS MODEL & STRATEGY

The Board currently comprises a non-executive Chairman, four Executive Directors and seven independent non-executive Directors. Each of the Executive Directors has extensive knowledge of the oil and gas industry.

AIDAN HEAVEY CHIEF EXECUTIVE OFFICERA founding Director and shareholder of the Company, Aidan Heavey has played a key role in the development of Tullow from its foundation in 1985 to its current international status as a leading independent oil and gas exploration and production group.

ANGUS McCOSS EXPLORATION DIRECTORAngus McCoss was appointed to the Board in December 2006. Prior to joining Tullow in April 2006 as General Manager Exploration, Angus had 21 years of wide-ranging exploration experience, working primarily with Shell in Africa and Europe.

PAUL MCDADE CHIEF OPERATING OFFICERPaul McDade was appointed to the Board in March 2006 after joining Tullow in 2001. An engineer with over 25 years experience, Paul has worked in various operational, commercial and management roles in Conoco, Lasmo and ERC.

IAN SPRINGETT CHIEF FINANCIAL OFFICERA chartered accountant, Ian Springett was appointed both Chief Financial Officer and a member of the Board in September 2008. Prior to joining Tullow, Ian worked at BP for 23 years where he gained a wealth of international oil and gas experience. Ian is currently taking an extended leave of absence from Tullow in order to undergo treatment for a medical condition. Les Wood, Vice President Finance and Commercial, has been appointed Interim CFO during this time.

EXECUTIVE DIRECTORSGLOSSARY

AGM Annual General Meeting

bn billion

boepd barrels of oil equivalent per day

bopd barrels of oil per day

CNOOC Chinese National Offshore Oil Corporation

€ Euro

FPSO Floating Production Storage and Offtake vessel

FTSE 250 Financial Time Share Index of 101st-350th firms by market capitalisation listed on the London Stock Exchange

km kilometres

mm millions

mmbo million barrels of oil

mmboe million barrels of oil equivalent

MoU Memorandum of Understanding

PoD Plan of Development

Rift Basin This is a regional accumulation of sediment deposited where the earth’s crust has been extended and rifted by plate tectonics. Rift basins are typically bounded by long and parallel basin-bounding faults. A thick wedge of sediments, including reservoirs, is deposited between these faults. Other faults within the rift basin establish structural traps for petroleum, which is liberated from deeply buried shale rich in organic material.

sq km square kilometres

TEN Tweneboa, Enyenra, Ntomme cluster of fields discovered in Ghana

$ US dollars


COMPANY MANAGEMENT

ONLINE COMMUNICATIONS

Financial results, events, corporate reports, webcasts and fact books are all stored in Investors section of our website: www.tullowoil.com/investors

E-COMMUNICATIONS• All documents on the website are available to view without any

particular software requirement other than the software which is available on the Group’s website.

• For every shareholder who signs up for electronic communications, a donation is made to the eTree initiative run by Woodland Trust. You can register for email communication at: : http://www.investorcentre.co.uk/etreeuk/tullowoilplc

The Tullow Oil corporate website includes up-to-date information on the Company. The site includes sections on About Us, Operations, Investors, Media, Sustainability, Careers, Suppliers and Contacts.

Annual Report and Accounts www.tullowoil.com/reports

THE BEST WAY TO KEEP UP TO DATE

Head office

Tullow Oil plc 9 Chiswick Park 566 Chiswick High Road London W4 5XT United Kingdom

Tel: +44 (0) 20 3249 9000 Fax: +44 (0) 20 3249 8801 Email: [email protected]

Other contacts

Company Secretary Email: [email protected]

Investor Relations Email: [email protected]

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