Schooner & Ketch Completion

Tullow Oil PLC
01 April 2005

Tullow Oil plc

1st April 2005


Tullow Completes Schooner and Ketch Transaction

Tullow Oil, the independent international oil and gas exploration and production
company, is pleased to announce the completion of the acquisition, from Shell
U.K. Limited and Esso Exploration and Production UK Limited, of their entire
producing interests in the Schooner and Ketch gas fields and associated acreage.
Tullow has also now assumed operatorship of both fields. This transaction was
first announced on 20 December 2004.

The total consideration for the transaction is £200 million, inclusive of
capital allowances, which has been financed through a combination of bank debt
and internal resources. The revenues and activities of Schooner and Ketch will
be recognised in Tullow's accounts with effect from 1 April 2005.

The producing interests acquired comprise a 90.35% interest in the Schooner
field and a 100% interest in the Ketch field.   The fields have been in
production since 1996 and 1999 respectively, with gas transported to the
Theddlethorpe terminal via the Caister-Murdoch System ('CMS') infrastructure in
which Tullow has a 17% interest. In addition to the producing assets, Tullow has
also acquired minority interests in the Topaz, Marjan, and 44/27-1 discoveries.

An update outlining Tullow's anticipated work programme for these assets will be
provided as part of the Group's annual results presentation on 12 April 2005.

Aidan Heavey, Tullow's Chief Executive commented:

'We are delighted to have completed the Schooner and Ketch acquisition,
enhancing our already significant acreage position in this part of the Southern
North Sea. We look forward to taking control of the assets and commencing a work
programme designed to materially increase production and reserve recovery over
the coming years.'

For further information contact:

Tullow Oil plc           Citigate Dewe Rogerson          Murray Consultants
([phone])       ([phone])              ([phone])
Paul Mc Dade             Martin Jackson                  Joe Murray
Tom Hickey

Notes for Editors

'Tullow' where referred to in this release means Tullow Oil plc and/or its
subsidiaries, as appropriate.

Tullow Oil plc is one of the leading Independent International Oil & Gas
Exploration and Production companies in Europe.  Tullow is quoted on the London
and Irish stock exchanges (symbol TLW) and is a member of the FTSE 250 Index.

Production and Development Assets

Tullow has interests in over ninety exploration and production licences spread
over three core areas:  NW Europe, West Africa and South Asia.  In 2004 Tullow
completed the acquisition of Energy Africa, bringing the number of countries in
which Tullow is active to sixteen.

In the UK North Sea, Tullow's principal interests are in the CMS and the Thames/
Hewett group of licences and the Bacton onshore gas-processing terminal on the
Norfolk coast.

Tullow's CMS interests currently include Murdoch (34%), Boulton (9.5%) and

CMS III (14.1%), all of which produce via the CMS infrastructure to the Conoco
operated Theddlethorpe terminal.  Tullow currently receives a tariff from
Schooner and Ketch via its 17% CMS interest for transportation and processing.

In Africa, Tullow has production in Gabon, Cote d'Ivoire, Congo (Brazzaville)
and Equatorial Guinea. Tullow also has exploration programmes in Morocco,
Mauritania, Senegal, Cameroon, Uganda and Egypt.

In South Asia, Tullow has production and exploration interests in Pakistan and
exploration activities in India and Bangladesh, where a three well drilling
programme was completed in Block 9 in 2004.


For further information see www.tullowoil.com


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