Equatorial Guinea Operations and Licences

Operations

Tullow holds interests in two production licences offshore Equatorial Guinea, covering the Ceiba field and the Okume Complex.

Production from the Hess operated Okume Complex development commenced, ahead of schedule, in December 2006 and reached plateau levels of approximately 70,000 bopd (gross) in March 2008. The project involves the integrated development of the Okume, Oveng, Ebano and Elon oil fields, collectively known as the Okume Complex and includes two tension leg platforms (TLP’s), four fixed platforms, and the drilling of over 40 wells. Production performance, particularly from the Elon field, has exceeded expectations.

Since first oil, 18 production wells and 7 water injectors have been drilled. A first phase of development drilling on the Elon field completed in April 2008. Drilling on the Okume field will continue for the rest of 2008 and into 2009 when the rig will move to the Oveng field.

Production levels from the Ceiba field have also exceeded expectations with average gross production in excess of 40,000 bopd during the first half of 2008. An infill drilling campaign was completed in May 2008 and flowline gas lift is being installed to assure production levels going forward.

Oil from the Okume Complex is blended with Ceiba Field production and exported via the Sendje Ceiba FPSO. Combined flow rates continue to exceed 100,000 bopd (gross), providing Tullow with net (working interest) production of more than 15,000 bopd.

Licences

Licence	Fields	Area Sq Km	Tullow Interest	Operator	Other Partners
Ceiba Field	Ceiba	70	14.25%	Hess	GEPetrol
Okume Complex	Okume, Oveng, Ebano & Elon	192	14.25%	Hess	GEPetrol