New Debt Funding Secured

RNS Number : 1585E

Tullow Oil PLC

15 December 2009

 



News Release 

US$250 million new debt funding secured

15 December 2009 - Tullow Oil plc (Tullow) announces that it has finalised arrangements for a US$250 million 

new revolving credit facility. 

On Monday 14 December, documentation for a US$250 million secured debt facility was executed by Bank of Scotland Plc, BNP Paribas, Calyon, ING Bank N.V., Société Générale, Standard Bank Plc, Standard Chartered Bank, and The Royal Bank of Scotland plc. 

The new debt facility will supplement Tullow's existing reserve based lend debt arrangements, providing additional 

funding capacity and flexibility for the Group's future capital programmes.

FOR FURTHER INFORMATION CONTACT:

Tullow Oil plc  ([phone]) Ian Springett Chris Perry

Citigate Dewe Rogerson  ([phone])  Martin Jackson George Cazenove

Murray Consultants  ([phone])  Joe Murray  Ed Micheau

Notes to Editors

Tullow is a leading independent oil & gas, exploration and production group, quoted on the London and Irish Stock Exchanges (symbol: TLW) and is a constituent of the FTSE 100 Index. The Group has interests in over 85 exploration and production licences across 23 countries and focuses on four core areas: Africa, Europe, South Asia and South America.

In Africa, Tullow has production in Gabon, Côte d'Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea and two large appraisal and development programmes in Ghana and Uganda. Tullow also has exploration interests in 

Gabon, Côte d'Ivoire, Liberia, Sierra Leone, Mauritania, Senegal, Congo (DRC), Tanzania, Madagascar, Namibia 

and Angola.

Tullow's European interests are primarily focused on gas in the UK Southern North Sea where it has significant interests in the Caister-Murdoch System and the Thames area. The company also has interests offshore the Netherlands and Portugal. 

In South Asia, Tullow has exploration and production in Pakistan and Bangladesh. In South America, Tullow has exploration interests in Guyana, French Guiana and Suriname. 

For further information please refer to our website at www.tullowoil.com.

 

END

 

 

MSCGUGUAPUPBGCA