Directors' Share Dealings

RNS Number : 0640F

Tullow Oil PLC

05 January 2010

 

Tullow Oil plc 
5 January 2010

            Directors' share dealings

Tullow Oil plc announces that the conditional share awards granted in January 2007 under the Tullow Oil 2005 Deferred Share Bonus Plan ('DSBP") vested on 4 January 2010. 

Furthermore, in accordance with the DSBP rules, sufficient of the shares acquired by the
executive directors named below were automatically sold (on their behalf by the trustees of the Company's employee benefit trust) on 4 January 2010 to discharge tax withholding
obligations arising on vesting. Details of the awards that vested and the share sales are set out in the table below:

Name of Director	Holding of ordinary shares prior to DSBP vesting date	DSBP shares vested	Shares sold	Holding of ordinary shares following this notification*
Aidan Heavey (CEO)	6,240,500	42,714	17,548	6,265,666
Graham Martin(General Counsel)	1,435,687	25,126	10,323	1,450,490
Paul McDade (Chief Operating Officer)	203,181	7,260	2,983	207,458

* Excludes shares purchased and awarded under the terms of the Tullow Oil UK Share Incentive Plan. 

Under this Plan, the Plan trustee holds a total of 6,778 shares for each of Messrs Martin and McDade.      

The total number of shares sold resulting from the above transactions amounted to 30,854 shares, the shares being sold at a price of £13.1777.

This announcement is made in accordance with DR 3.1.4R (1) (a).

The Company was informed by the Directors listed above of the above transactions on 5 January 2010. 

For further information contact:

Graham Martin

Tullow Oil plc

[phone]

 

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