Interim Management Statement

16 May 2012 - Tullow Oil plc (Tullow) issues the following Interim Management Statement, for the period 1 January to 16 May 2012, in accordance with reporting requirements of the EU Transparency Directive. This statement is issued in advance of the Group's Annual General Meeting which is being held at Haberdashers' Hall in London, at 12pm today. The Group will announce its half yearly Trading Statement and Operational Update on 4 July 2012. Half year results will be announced on 25 July 2012.

Tullow's performance to date in the first half has been excellent. In Uganda, the Group completed the $2.9 billion farm down to CNOOC and Total, and is now progressing with exploration, appraisal and development activities. The Ngamia-1 well onshore Kenya has opened a new basin and de-risked significant prospectivity in the region. In Ghana, remedial work on the Jubilee production wells is progressing well, Jubilee Phase 1A development has commenced and the Plan of Development for the Tweneboa-Enyenra-Ntomme (TEN) project is expected to be submitted later this year. Further potential basin-opening exploration campaigns have also recently commenced in Guyana and Côte d'Ivoire. In addition, the Group remains on track to deliver total net production of 78,000 to 86,000 boepd for the full year.