Director Shareholding

Tullow Oil PLC
21 September 2004



Tullow Oil PLC

21 September 2004



                   Tullow Oil plc ('Tullow' or 'the Company')



                             Grant of Share Options



The Company announces that on 20 September 2004, the following options ('Share
Options') over ordinary shares of 10p each ('Ordinary Shares') were granted to
the following executive directors under the terms of the Tullow Oil 2000
Executive Share Option Scheme at an exercise price of 130.75p per share:





Director                           Number of Share Options granted     Total number of Ordinary Shares
                                                                       over which Share Options held
                                                                       following this notification
Aidan Heavey                       450,000                             2,830,280
Graham Martin                      190,000                             2,874,426
Tom Hickey                         350,000                             1,310,000





The options are exercisable during the period commencing 20 September 2007 until
19 September 2014.



Inquiries

Tom Hickey

Tullow Oil plc

+ 44 207 333 6800








                      This information is provided by RNS
            The company news service from the London Stock Exchange