Tullow Completes Drilling Phase at East Espoir

Tullow Oil reports that the drilling phase of the East Espoir Development offshore Côte d'Ivoire has now finished with the completion of the fifth Espoir production well, which went into full production on September 6, 2003.

Gross production from Espoir (Tullow – 21.33%) averaged 26,000 boepd for the first week of production following completion of this well, and is currently producing at approximately 26,700 boepd gross.

The West Espoir Development Project is due to be sanctioned by the field co-venturers in October, 2003, with first oil expected during the second quarter of 2005.

Partners in the Espoir Development are CNR International as operator, Tullow Oil and Petroci.