Tullow Wins 9 Blocks in Latest UK Licensing Round

Tullow Oil was awarded nine operated exploration blocks in the UK 22nd offshore licensing round. The license awards, announced by the Energy Minister, Mr. Mike O'Brien, on September 14th, comprise seven blocks in Tullow's core CMS area of the Southern North Sea (SNS) and two blocks in the North Viking Graben.

The seven SNS blocks comprise two traditional awards located to the south of Tullow's Boulton field, and five Promote awards in under-explored acreage to the west of Boulton. A further two Promote awards are located in the North Viking Graben to the east of the Tern Field. These awards build upon an exploration position established in the 21st Round.

Tullow, as Operator of these awards, plans to reprocess existing 2D and 3D seismic data as part of a full evaluation of the potential of this acreage. Tullow intends to commence this work in early 2005.

Aidan Heavey, Chief Executive of Tullow commented:

"Tullow is committed to developing and expanding its business in the North Sea and the award of these operated blocks is further evidence of our progress. We look forward to working with our partners to determine the prospectivity of these areas.

In the Southern North Sea Tullow was awarded a Traditional License for blocks 44/21c and 44/26b. Tullow will be operator with a 25% stake. Partners are GDFB with 25%; Premier Oil with 25% and Endeavour Energy with 25%.

Tullow was also awarded a Promote license for blocks 43/22b, 43/23b, 43/27b, 43/28b and 43/29 in the Southern North Sea. Tullow is operator with a 25% stake and partners are GDFB with 25%; Premier Oil with 25% and Endeavour Energy with 25%.

In the North Viking Graben area Tullow was awarded a 1005 operatorship of blocks 210/25e and 11/21b.