Holding in Company

Tullow Oil PLC 24 January 2007 Tullow Oil Plc 24 January 2007 Re: Holding in Company A letter from M&G Investment Management Limited to Tullow Oil Plc dated 22 January 2007, received by the Irish Stock Exchange on the 24 January 2007. TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached (ii): TULLOW OIL PLC 2. Reason for the notification (please tick the appropriate box or boxes) An acquisition or disposal of voting rights: ( ) An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: ( ) An event changing the breakdown of voting rights: ( ) Other (please specify): (X ) INITIAL NOTIFICATION DUE TO CHANGE OF THRESHOLDS FOR NOTIFICATION OF NON-MATERIAL INTERESTS FROM 10% TO 5% 3. Full name of person(s) subject to the notification obligation (iii): PRUDENTIAL PLC GROUP OF COMPANIES 4. Full name of shareholder(s) (if different from 3.) (iv): SEE ATTACHED SCHEDULE 5. Date of the transaction (and date on which the threshold is crossed or reached if different) (v): 20 JANUARY 2007 6. Date on which issuer notified: 23 JANUARY 2007 7. Threshold(s) that is/are crossed or reached: 5% 8. Notified details: A: Voting rights attached to shares Class/type of shares if possible Situation previous to the Triggering transaction (vi) using the ISIN CODE Number of shares Number of voting Rights (viii) Ord 10p 67,116,866 67,116,866 Resulting situation after the triggering transaction (vii) Class/type of shares if Number of shares Number of voting rights (ix) % of voting rights possible using the ISIN CODE Direct Direct (x) Indirect (xi) Direct Indirect Ord 10p 67,116,866 67,116,866 9.36% B: Financial Instruments Resulting situation after the triggering transaction (xii) Type of Expiration Date Exercise/Conversion Number of voting rights % of voting rights financial (xiii) Period/ Date (xiv) that may be acquired if the instrument instrument is exercised/ converted. N/A Total (A+B) Number of voting rights % of voting rights 67,116,866 9.36% 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable (xv): SEE ATTACHED SCHEDULE Proxy Voting: 10. Name of the proxy holder: N/A 11. Number of voting rights proxy holder will cease to hold: N/A 12. Date on which proxy holder will cease to hold voting rights: N/A 13. Additional information: NONE 14. Contact name: RICHARD TAYLOR 15. Contact telephone number: 0208 996 1000 Notifiable Position Report for Tullow Oil ORD GBP0.10 As at 19 January 2007 Percentage holdings are calculated using an issued share capital of 717,005,115 ORD GBP0.10 shares Registered Holder Holdings % PRUDENTIAL PLC 67,116,866 9.36 Total Notifiable Interest BK OF NEW YORK(NOMS)LTD 261,986 636924 MAGIM HSBC GISNOM(UK) 164,389 SALI NORTRUST NOMINEE LTD A/ 1,000,000 CMHE01 NORTRUST NOMINEE LTD A/ 151,000 CMHF01 NORTRUST NOMINEE LTD A/ 1,469,184 CMHJ01 NORTRUST NOMINEE LTD A/ 1,188,361 CMKB01 NORTRUST NOMINEE LTD A/ 27,357,925 CMKK01 NORTRUST NOMS LTD 103,632 NORTRUST NOMS LTD A/C 1,900,000 MED01 NORTRUST NOMS LTD A/C 14,780,378 MEJ01 NORTRUST NOMS LTD A/C 237,164 PUF01 NORTRUST NOMS LTD A/C 2,962,384 PUR01 PRUCLT HSBC GIS NOM(UK) 12,416,059 PAC AC PRUCLT HSBC GIS NOM(UK) 2,510,084 PPL AC PRUCLT HSBC GIS NOM(UK) 73,290 EQBF AC PRUCLT HSBC GIS NOM(UK) 109,635 MNBF AC PRUCLT HSBC GIS NOM(UK) 431,395 PENE AC M&G Group Limited 66,854,880 9.32 MAGIM HSBC GIS NOM(UK) 164,389 SALI NORTRUST NOMINEE LTD A/ 1,000,000 CMHE01 NORTRUST NOMINEE LTD A/ 151,000 CMHF01 NORTRUST NOMINEE LTD A/ 1,469,184 CMHJ01 NORTRUST NOMINEE LTD A/ 1,188,361 CMKB01 NORTRUST NOMINEE LTD A/ 27,357,925 CMKK01 NORTRUST NOMS LTD 103,632 NORTRUST NOMS LTD A/C 1,900,000 MED01 NORTRUST NOMS LTD A/C 14,780,378 MEJ01 NORTRUST NOMS LTD A/C 237,164 PUF01 NORTRUST NOMS LTD A/C 2,962,384 PUR01 PRUCLT HSBC GIS NOM(UK) 12,416,059 PAC AC PRUCLT HSBC GIS NOM(UK) 2,510,084 PPL AC PRUCLT HSBC GIS NOM(UK) 73,290 EQBF AC PRUCLT HSBC GIS NOM(UK) 109,635 MNBF AC PRUCLT HSBC GIS NOM(UK) 431,395 PENE AC M&G Investment 66,703,880 9.30 Management Limited MAGIM HSBC GISNOM(UK) 164,389 SALI NORTRUST NOMINEE LTD A/ 1,000,000 CMHE01 NORTRUST NOMINEE LTD A/ 1,469,184 CMHJ01 NORTRUST NOMINEE LTD A/ 1,188,361 CMKB01 NORTRUST NOMINEE LTD A/ 27,357,925 CMKK01 NORTRUST NOMS LTD 103,632 NORTRUST NOMS LTD A/C 1,900,000 MED01 NORTRUST NOMS LTD A/C 14,780,378 MEJ01 NORTRUST NOMS LTD A/C 237,164 PUF01 NORTRUST NOMS LTD A/C 2,962,384 PUR01 PRUCLT HSBC GIS NOM(UK) 12,416,059 PAC AC PRUCLT HSBC GIS NOM(UK) 2,510,084 PPL AC PRUCLT HSBC GIS NOM(UK) 73,290 EQBF AC PRUCLT HSBC GIS NOM(UK) 109,635 MNBF AC PRUCLT HSBC GIS NOM(UK) 431,395 PENE AC M & G LIMITED 66,854,880 9.32 MAGIM HSBC GISNOM(UK) 164,389 SALI NORTRUST NOMINEE LTD A/ 1,000,000 CMHE01 NORTRUST NOMINEE LTD A/ 151,000 CMHF01 NORTRUST NOMINEE LTD A/ 1,469,184 CMHJ01 NORTRUST NOMINEE LTD A/ 1,188,361 CMKB01 NORTRUST NOMINEE LTD A/ 27,357,925 CMKK01 NORTRUST NOMS LTD 103,632 NORTRUST NOMS LTD A/C 1,900,000 MED01 NORTRUST NOMS LTD A/C 14,780,378 MEJ01 NORTRUST NOMS LTD A/C 237,164 PUF01 NORTRUST NOMS LTD A/C 2,962,384 PUR01 PRUCLT HSBC GIS NOM(UK) 12,416,059 PAC AC PRUCLT HSBC GIS NOM(UK) 2,510,084 PPL AC PRUCLT HSBC GIS NOM(UK) 73,290 EQBF AC PRUCLT HSBC GIS NOM(UK) 109,635 MNBF AC PRUCLT HSBC GIS NOM(UK) 431,395 PENE AC M & G SECURITIES 47,846,848 6.67 LIMITED NORTRUST NOMINEE LTD A/ 1,000,000 CMHE01 NORTRUST NOMINEE LTD A/ 151,000 CMHF01 NORTRUST NOMINEE LTD A/ 1,469,184 CMHJ01 NORTRUST NOMINEE LTD A/ 1,188,361 CMKB01 NORTRUST NOMINEE LTD A/ 27,357,925 CMKK01 NORTRUST NOMS LTD A/C 1,900,000 MED01 NORTRUST NOMS LTD A/C 14,780,378 MEJ01 This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange. 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