Tullow Oil plc - Trading Statement and Operational Update

08/07/2009

8 July 2009 – Tullow Oil plc (Tullow) issues this Trading Statement in respect of the first half of the 2009 financial year ended 30 June 2009. This is in advance of the Group’s Half-Yearly Results, which are scheduled for release on Wednesday 26 August 2009.

Here's the Tullow NR with the Georgetown 3D comment highlighted.

The Operational Update is in respect of recent Production, Development and Exploration activities. The information contained herein has not been audited and is subject to further review.

HIGHLIGHTS

Ghana and Equatorial Atlantic Activities

• Jubilee Phase 1 Plan of Development finalised with the Government of Ghana for formal approval. Development drilling, FPSO conversion and subsea facilities fabrication all on track for 2010 first oil.
• Tweneboa-1 makes a significant discovery, extending the Jubilee play westwards.
• Five potentially transformational exploration and appraisal wells scheduled for 2H 2009; Mahogany-4, Mahogany-Deep-2, Tweneboa-2 and Teak-1 in Ghana and South Grand Lahou in Côte d’Ivoire.
• Farm-in offers received for French Guiana acreage. New 3D seismic surveys reveal large leads offshore Guyana and Liberia. A further two licences are being acquired elsewhere in Liberian Basin.