Tullow Oil plc (Tullow) issues this Trading Statement in respect of its financial year to 31 December 2010.
This is in advance of the Group’s Full Year Results, which are scheduled for release on 9 March 2011. 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.
HIGHLIGHTS
Production and Development activities
Exploration and Appraisal activities
Group operations and financials
COMMENTING TODAY, AIDAN HEAVEY, CHIEF EXECUTIVE SAID:
“In 2010, our business performed better than ever. We achieved exceptional exploration success and together with our partners delivered ‘First Oil’ on schedule in Ghana by year-end. In Uganda, while negotiations with the Government have taken longer than expected, they are progressing well. The new partnership of Tullow, CNOOC and Total remains fully committed and looks forward to commencing the basin-wide development this year. In 2010, we also expanded our portfolio and restructured our finances to position the Group to deliver further growth and continue as Africa’s leading independent oil company.”
[mappress]
Source:Tullow Oil , January 27, 2011;