New Licence in Gabon

Tullow Oil PLC
12 March 2003


                     TULLOW OIL SIGNS NEW LICENCE IN GABON


Tullow Oil plc ('Tullow'), the independent oil and gas exploration, development
and production company, announces that its wholly owned subsidiary, Tullow Gabon
(Operations) Limited has signed a Production Sharing Contract with the Gabonese
Government for the Kiarsseny Marin Area in the highly prospective Northern Gabon
offshore basin.  Tullow will operate the concession with a 100% interest.  This
award expands Tullow's exploration portfolio in an area of significant
hydrocarbon potential and complements Tullow's existing West African assets in
Cote d'Ivoire and Cameroon.

Kiarsseny Marin Area

The Kiarsseny Marin concession, which lies mainly in shallow water, contains a
number of existing small oil discoveries - GLK, Iguega and Equata, - in addition
to numerous exploration opportunities.  Tullow plans to assess the commerciality
of these accumulations, and other prospects on the block, with an exploration
and appraisal programme.

The Kiarsseny Marin licence is a 5,442 sq. km area with water depths ranging
from 0 m to 900 m.  Over 18,000 km of 2D seismic data, and over 2,300 sq km of
3D seismic data are available for the block.  Some 24 wells have been drilled on
the licence to date, of which many have encountered oil and gas.  Tullow expects
to move rapidly to evaluate the large body of data that exists for the licence,
and plans to start the first of two commitment exploration wells within a year
of signature.  Tullow expects any successful discoveries to be brought into
production rapidly.

The Kiarsseny Marin area is located in the Northern sector of the Gabonese
offshore, close to the border with Equatorial Guinea.  Both shallow post-salt
Tertiary and Cretaceous targets and deeper pre-salt plays are present on the
acreage.  There are three discoveries located in the block; Equata, which was
drilled by Texaco in 1974; GLK, which was discovered by Gulf in 1976; and
Iguega, which was discovered by Shell in 1997.  These discoveries were
considered marginal by previous operators under earlier, more stringent
Production Sharing Contract terms.  Water depth in the majority of the licence
area is shallow, facilitating cost effective drilling and field development.
The Kiarsseny Marin licence is within 20km of Elf Gabon's production facilities
at Konzi. Shallow offshore fields have been exploited in Gabon since the 1960s.

Commenting, Aidan Heavey, Chief Executive, Tullow, said: 'This entry into Gabon
is an exciting further step in Tullow's growth in West Africa, one of the
world's most vibrant Hydrocarbon Provinces.  We are delighted that our
discussions with the Gabonese Authorities have proceeded so rapidly and
cordially.  We look forward to an exciting exploration and appraisal programme
on this highly prospective licence.'


For further information contact:


Tullow Oil plc                                            Tel: [phone]
Aidan Heavey, Chief Executive
Graham Martin, Legal and Commercial Director
Brian O'Cathain, Managing Director, Tullow Oil International
www.tullowoil.com

Binns & Co PR Ltd
Emma McCaffrey                                            Tel: [phone]
Judith Parry                                              Tel: [phone]
www.binnspr.co.uk


NOTES TO EDITORS

Tullow Oil plc is a UK registered company, quoted on the London and Irish stock
exchanges, and is one of the largest Independent Exploration and Production
companies in Europe. Tullow Oil is a dynamic player in the international oil and
gas industry. Its primary offices are in London (UK & Corporate) and Dublin
(International Business).

Tullow Oil has interests in 54 exploration and production licences spread over
three main areas - South Asia, Africa, and Europe - and has regional offices in
each area.


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