Tullow Oil Takes 6 Blocks in 24th Round

Tullow Oil has been awarded six exploration blocks in the 24th offshore Licensing Round. The license awards, announced yesterday by Alistair Darling, the Secretary of State of Trade & Industry, all lie in Tullow's core areas of the Southern North Sea. A breakdown of the awards to Tullow is given in the table below.

Tullow plans to acquire seismic data as a part of a full evaluation of the potential of this acreage and anticipates that exploration wells on this acreage will form part of the 2008 drilling program in the UK.

Block           Operator           Equity    Core Area
48/28b (Split)  Tullow              100%   Thames-Hewett
52/3 (Part)     Tullow              100%   Thames-Hewett
52/4b (Part)    Tullow              100%   Thames-Hewett
52/5b           Tullow              100%   Thames-Hewett
44/13 (Split)   Gaz de France        25%        CMS
44/21e          Tullow              100%        CMS
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