Tullow Oil has issued a Trading Statement in respect of the first half of the 2009 financial year ended June 30, 2009. This is in advance of the Group's Half-Yearly Results, which are scheduled for release on Wednesday, August 26, 2009. 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.
Ghana and Equatorial Atlantic Activities
Group Operations and Financials
Commenting today, Aidan Heavey, Chief Executive, said, "In the first half of 2009, Tullow has focused on the exploration, appraisal and development of the Group's two major growth projects in Ghana and Uganda. This has resulted in significant resource additions in Uganda and the discovery of the potentially transformational Tweneboa field in Ghana. In addition, we have made excellent progress with the Phase 1 development of the Jubilee field and I am delighted to report that this has culminated in the finalization of the Development Plan with the Ghanaian Government.
"It promises to be an exciting second half of the year with high-impact exploration and appraisal wells in Ghana and Cote d'Ivoire, the result of the significant Ngassa-2 well in Uganda and the development of commercialization options for the substantial Ugandan resource base. The outlook for Tullow remains very positive."
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