Gabon Farm-out

Tullow Oil PLC
04 February 2004


Tullow Oil plc

4th February 2004



TULLOW OIL FARMS OUT INTEREST IN KIARSSENY LICENCE, GABON
FIRST WELL IMMINENT

Tullow Oil plc (Tullow) is to drill an exploration well on the Kiarsseny Marin
Licence, offshore northern Gabon, following the farm-out of a 42.5 per cent
interest in the block to Addax Petroleum (Addax).  Drilling of the Kiarsseny
Topaze South well (KTS-1) will commence later this month and will test a
southern extension of the proven Topaze field oil accumulation.  The well will
also investigate a deeper exploration objective in the Cap Lopez Formation.

Tullow has agreed to assign a 42.5 per cent interest in the licence to Addax
Petroleum Gabon Limited, a wholly owned subsidiary of Addax, through its wholly
owned subsidiary, Tullow Gabon Operations Limited.  Tullow will continue as
operator of the licence and will hold the remaining 57.5 per cent interest.  The
transaction is subject to the approval of the Government of Gabon.  As part of
this transaction, Addax will bear the drilling costs of the KTS-1 well.  In the
event of success on this well, the farm-out agreement further provides for Addax
to bear the drilling costs of up to two additional exploration and appraisal
wells on the licence.

The Kiarsseny Marin concession contains a number of existing oil discoveries -
Topaze, Iguega and Equata - as well as numerous exploration opportunities.  Some
24 wells have been drilled in the licence to date, many of which have
encountered oil and gas.

Commenting on the announcement today, Aidan Heavey, Chief Executive of Tullow
said:  'Tullow's West African assets are at the core of our international growth
strategy and we will continue to seek opportunities in this region. The Topaze
well is part of an active exploration programme for the first half of 2004
covering all of Tullow's core areas, with other wells also drilling or imminent
in Bangladesh and the UK.'


For Further Information Contact:


Tullow Oil plc ([phone])
Aidan Heavey
Tom Hickey
Brian O'Cathain


Citigate Dewe Rogerson ([phone])
Martin Jackson


Murray Consultants ([phone])
Joe Murray


Notes for Editors

Tullow Oil plc is one of the leading Independent International Oil & Gas
Exploration and Production companies in Europe. Tullow is quoted on the London
and Irish stock exchanges (symbol TLW) and is a member of the FTSE 250 Index.


Strategy

Tullow's strategy is to build strong and secure cash flow from low risk
production acreage while applying discretionary funds to exploration territories
with high potential. These activities will be undertaken in a manner that
reflects a genuine concern for the environment and the health and safety of all
personnel.


Production and Development Assets

Tullow has interests in over 50 exploration and production licences spread over
three core areas:  UK North Sea, West Africa and South Asia.

In the North Sea, Tullow's principal interests are in the CMS (where Monroe
exploration well is expected to commence in February) and the Thames/Hewett
group of licences in addition to the operatorship of the Bacton onshore
gas-processing terminal.

The Espoir field in Cote d'Ivoire, West Africa, is Tullow's principal source of
international production.  Tullow is also active in exploration and development
programmes in Gabon and Cameroon.

In South Asia, Tullow has production and exploration interests in Pakistan and
exploration activities in India.  In Bangladesh, a three well drilling programme
in Block 9 is under way; the Rasulpur exploration well is currently in progress,
and will be followed by further wells at Lalmai and Bangora.

For further information see www.tullowoil.com


Addax

Addax Petroleum was founded in 1994 to develop and exploit oil and gas fields in
West Africa. Addax currently holds licences in Nigeria and in Cameroon, and
currently produces over 40,000 bopd from a number of fields in Nigeria. Its
technical service offices are located in Geneva, Switzerland. Tullow and Addax
already have a successful partnership in the Ngosso concession, in Cameroon.


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