Gas Discovery

Tullow Oil PLC 16 April 2004 Tullow Oil Announces Monroe Gas Discovery Tullow Oil plc ('Tullow') announces a gas discovery with the 'Monroe' exploration well, 44/17b-7. The 44/17b-7 discovery, located within Tullow's Caister Murdoch System ('CMS') core area, was spudded on 16 February and reached a depth of 12,611ft. The well encountered gas-bearing Carboniferous reservoir sands and has been suspended as a potential future producer. Subject to the outcome of pre-development studies, it is the co-venturers' plan to re-enter this well and tie it back to the ConcocoPhillips operated CMS III production network. First production is expected by mid-2005. Co-venturers in the discovery are Tullow Oil UK (15% interest), GDF Britain Ltd (39% interest and Operator) and ConocoPhillips (UK) Limited (46% interest). Aidan Heavey, Tullow's Chief Executive commented: 'The success of the Monroe well demonstrates the continued prospectivity of this core area and paves the way for the next phase of development of CMS. We look forward to further active exploration and development activities on this exciting trend' For Further Information Contact: Tullow Oil plc (+44 20 7333 6800) Aidan Heavey Tom Hickey Citigate Dewe Rogerson (+44 207 638 9571) Alexandra Scrimgeour Murray Consultants (+353 1 498 0300) 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 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 Cameroon and Gabon. In South Asia, Tullow has production and exploration interests in Pakistan and exploration activities in India. In Bangladesh, a three well drilling programme is under way in Block 9. For further information see www.tullowoil.com This information is provided by RNS The company news service from the London Stock Exchange

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