Company Profile For Tullow Oil PLC

Tullow Oil plc is an independent oil and gas exploration and production companies based in Europe. The Company has a portfolio of exploration and production assets with a focus on balanced growth, with interests in 86 licences across 22 countries. The Company is concentrating on executing projects in Ghana and Uganda. During the year ended December 31, 2008, Tullow’s working interest production averaged 66,600 barrels of oil equivalent per day with Company’s reserves and resources at 825 million barrels of oil equivalent at the year end. During 2008, a number of sizeable discoveries were made, including the discoveries in Sub-Saharan Africa. In total, sufficient resources have been discovered to justify development of the Lake Albert Rift Basin. During 2008, the Company sold its 51.69% interest in the offshore Hewett Unit fields and related infrastructure, including onshore Bacton terminal.

BRIEF: For the six months ended 30 June 2009, Tullow Oil plc's revenue decreased 23% to £291.3M. Net income decreased 83% to £21.6M. Revenues reflect a decrease in income from Africa and Europe regions. Net income also reflects an increase in cost of sales, decreased gross margin, an increase in administrative expenses, a decrease in profit on sale of oil & gas assets and a decrease in finance income.