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Tullow Oil Provides Updates on its Operations in Africa

10-16-2007

Tullow Oil is hosting a three-day event in Uganda for a group of sell-side analysts. Prior to the visit, Tullow is providing the following update on its operations in Gabon, Ghana, and Uganda. No new trading information will be released during the visit.

The event will include a series of presentations on activities in Uganda.

Activity Update:

Gabon - the Mpano-1 well (Tullow 40%) spudded on 2 October 2007. The well is located in the Nziembou license and lies on trend with the Niungo field. A second well, the Oba-5 appraisal well (Tullow 5%) spudded on 7 October 2007. This well is located in the Oba Production License and will test the Ombena prospect below the Oba field.

Ghana - A 900 sq km high-resolution 3D seismic survey is currently in progress as part of the program to fast track the appraisal of the Mahogany and Hyedua discoveries. The survey will cover the entire Mahogany / Hyedua accumulation. Discussions are also well advanced to secure rigs for a two well drilling program planned for the first quarter 2008, and for a further two to four well program scheduled for the second quarter 2008.