Sale of interest in M'Boundi

Tullow Oil PLC
31 January 2008

News release

Sale of interest in M'Boundi to the Korea National Oil Company


31 January 2008 - Tullow Oil plc (Tullow) announces the sale of its 11% interest
in the onshore M'Boundi field in Congo (Brazzaville) to the Korea National Oil
Company (KNOC) for a total cash consideration of $435 million.

The deal, which will involve the sale of Tullow's subsidiary company - Tullow
Congo Limited, is subject to partner pre-emption and approval from the
government of Congo (Brazzaville) and has an effective date of 1 December 2007.

The M'Boundi field was discovered in May 2001 by Maurel and Prom and is one of
the largest oil fields to be found onshore Africa in recent years. Through an
active programme of water injection and production optimisation initiated by the
operator, ENI, current production of approximately 37,000 bopd is expected to
increase through 2008.

The M'Boundi field has been an important asset in Tullow's portfolio since the
acquisition of Energy Africa in 2004. In the intervening period, the field has
made a significant contribution to the Group's organic production and reserves
growth. M'Boundi is now entering a new phase in its development at a time when
Tullow is also looking to reallocate capital resources to projects where it has
more material participation and influence. This transaction provides Tullow with
the financial flexibility to advance its appraisal and development programmes in
Ghana and Uganda and to continue the development of its business.

Commenting today, Aidan Heavey, Chief Executive of Tullow said:

'This is a very exciting time in Tullow's evolution with major work programmes
in progress to appraise and commercialise our assets in both Uganda and Ghana.
The sale of M'Boundi, as part of our portfolio management strategy, provides
Tullow with an opportunity to focus resources in core growth areas through
monetising a valuable non-core asset. M'Boundi is a quality asset and this is an
excellent transaction for both Tullow and KNOC'.

For further information contact:
Tullow Oil plc                     Citigate Dewe Rogerson              Murray Consultants
([phone])                 ([phone])                  ([phone])
Aidan Heavey                       Martin Jackson                      Joe Murray
Tom Hickey                         George Cazenove
Chris Perry

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 110
exploration and production licences across 23 countries and focuses on four core
areas: Europe, Africa, South Asia and South America.

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-Hewett areas and operates over 70% of its production.

In Africa, Tullow has exploration and production in Gabon, Cote d'Ivoire,
Mauritania and Equatorial Guinea and two large appraisal and development
programmes in Ghana and Uganda. Tullow also has exploration interests in
Mauritania, Senegal, Congo (DRC), Tanzania, Madagascar, Namibia and Angola.

In South Asia, Tullow has exploration and production in Pakistan and Bangladesh
and high impact exploration activities in India.

In South America Tullow has high impact exploration interests in Trinidad and
Tobago, French Guiana and Suriname.

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



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