Re New Venture

Tullow Oil PLC
19 March 2001

For Immediate Release

                   Monday 19th March 2001


New Venture in Block 222b, Algeria



Tullow Oil Plc, the independent oil and gas exploration, development and
production company, announces that it has executed an Agreement with AGIP
Algeria Exploration B.V.  to acquire a 30% participating interest in Block
222b, onshore Algeria. It is the first time that Tullow has undertaken a
project in Algeria.  The agreement remains subject to an official approval by
Sonatrach and the competent Algerian Authorities.



Block 222b is located in the eastern part of Algeria. The original petroleum
contract was executed between AGIP Algeria Exploration B.V. and Sonatrach in
May, 1999. The partners to the Block are now AGIP Algeria Exploration B.V.
(Operator, 50%), Tullow Algeria Limited (30%) and Teikoku Oil (Algeria) Co.,
Ltd (20%).



The first exploration period will run for three years from May, 2000 until May
2003, during which a minimum of one exploration well will be drilled. The
total amount of minimum investment during the three year period corresponds to
US$8 million (Tullow share $2.4 million).



END OF RELEASE



COMMENT FOR EDITORS FOLLOWS


Commenting Aidan Heavey, Chief Executive of Tullow said:



'Algeria is a significant new addition to Tullow's international exploration
portfolio  - Block 222b is in a world class petroliferous basin and adjacent
to a number of very significant producing fields, including the giant Tin
Fouye complex. Agip Exploration B.V. have planned a comprehensive evaluation
programme for the next two years and we look forward to participating in this.
'



END OF COMMENT

For Further Information:

Tullow Oil plc - 020 7389 0300         Binns & Co PR Ltd - 020 7786 9600
Aidan Heavey                           Peter Binns
Graham Martin                          Simon Ellis
Tom Hickey                             Emma McCaffrey