Cote d'Ivoire Oil Discovery

Tullow Oil PLC
08 May 2003

Press Release

Tullow Oil plc

8 May 2003

COTE D'IVOIRE OIL DISCOVERY CONFIRMS POTENTIAL OF OFFSHORE ACAJOU AREA


Tullow Oil plc ('Tullow') has announced an oil discovery on the Acajou prospect
in Cote d'Ivoire, confirming the hydrocarbon potential of the area, southeast of
the Espoir field.


The well on licence CI-26 was drilled on the Acajou South prospect approximately
24 km off the coast of Cote d'Ivoire in a water depth of 3,050ft. The well is
located some 9km from the Espoir facilities.


Well Acajou-1x was operated by Canadian Natural Resources ('CNR') using the
Sovereign Explorer rig. It reached a total depth of 8,027ft and encountered a
gross oil column of over 250ft. A 45ft interval of sands at the top of the oil
column was tested at an average rate of 3,500 bopd oil. The oil was of good
quality 33degrees API, similar to that found in the Espoir field.


Brian O'Cathain, Managing Director of Tullow Oil International Ltd., commented,
'We are pleased with the success of this exploration well, as it underlines the
potential of the Acajou area. The test rate is encouraging for the economic
development of the discovery. The well also encountered a significant sand
section below the oil water contact, which holds potential in the northern part
of the structure. The Acajou co-venturers will now evaluate the most effective
method to bring this potentially commercial discovery into development'.


Tullow has a 24.0% interest in the Acajou discovery, with co-venturers CNR and
Petroci holding 66.0% and 10.0% respectively.


Espoir Developments


Elsewhere on licence CI-26, Tullow has announced that the build up of production
in the Espoir field is progressing according to plan. Well EP-4 has been
completed, and the perforation of the upper reservoir in wells EP-1, 2 and 3 is
well underway. Brian O'Cathain added 'We are confident of meeting our target of
25,000 bopd gross oil production by end Q2, 2003. The Espoir Field and CI-26
Licence constitute a key value creation area for Tullow and we look forward to
further active exploration, appraisal and development in this exciting region'.

ENDS


For Further Information:

Tullow Oil plc
Aidan Heavey, Chief Executive                               [phone]
Tom Hickey, Finance Director                                [phone]
Brian O'Cathain, Managing Director, Tullow Oil International Ltd          
                                                            [phone]
www.tullowoil.com


Binns & Co PR Ltd
Emma McCaffrey, Peter Binns, Ben Willey                     [phone]
www.binnspr.co.uk


Editor's note


Tullow Oil plc ('Tullow') is a UK registered company, quoted on the London and
Irish stock exchanges, and is one of the largest Independent Exploration and
Production companies in Europe. Tullow Oil is a dynamic player in the
international oil and gas industry. Its primary offices are in London (UK &
Corporate) and Dublin (International Business).


Tullow Oil has interests in 54 exploration and production licences spread over
three main areas - South Asia, Africa, and Europe - and has regional offices in
each area. Tullow has had long-term involvement in Africa. The Company has
interests in Cote d'Ivoire, Gabon, and Cameroon.


Tullow has a 21.33% equity in the Espoir Field with partners, CNR and Petroci ,
holding 58.67% and 20% respectively. The Espoir Field has estimated recoverable
reserves of 93 million barrels of oil and 180 billion cubic feet of natural gas.


The Espoir production facilities currently comprise an unmanned wellhead
platform with oil and gas processed on an FPSO. The East Espoir oil accumulation
is being developed initially followed by development of the West Espoir within
two years. The Espoir field has a life expectancy of 20 years.







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