New Acquisition for Tullow in Gabon

Tullow Oil 12-26-2006

Tullow Oil, through a 50/50 joint venture with AIC-Petrofi has confirmed its acquisition of interests in three producing fields in Gabon, and back-in rights to a further nine exploration licenses. Two additional fields, presently under exploration license are expected to be onstream over the next 18 months www.tullowoil.com .

The acquisition adds approximately 350 boepd of current production net to Tullow from the Obangue 3.75%, Tsengui 3.75%, and Oba 5% fields. And, when combined with Tullow's existing Gabonese interests gives the Group exposure to almost 40% of Gabon's currently licensed acreage.