Statement re. Suspension

Tullow Oil PLC
26 March 2004



(Not for release, publication or distribution in or into the United States,
Canada Australia or Japan)



                                 TULLOW OIL PLC

                  DISCUSSIONS REGARDING ENERGY AFRICA LIMITED

                           AND SUSPENSION OF LISTING

The Board of Tullow Oil plc ('Tullow') notes the recent press speculation about
a substantial transaction and confirms that it is considering making an offer
for 100 per cent. of the share capital of Energy Africa Limited ('Energy 
Africa') for US$500 million (approximately GBP276 million).  To this end, Tullow
has signed agreements with shareholders holding in aggregate over 90 per cent.
of Energy Africa's issued share capital that allow Tullow an exclusive period of
negotiations which may or may not lead to an offer being made by Tullow for
Energy Africa. Tullow has requested that Energy Africa grant Tullow access to
such information as may be necessary to allow Tullow to complete its final due
diligence.


It is currently envisaged that if an offer is made it will be in cash with a
share alternative.  Shareholders who hold over 25 per cent. of Energy Africa and
who are non-residents of South Africa have indicated that they would accept new
Tullow shares in exchange for their Energy Africa shares. A substantial part of
the cash element of the offer consideration would be financed by a new debt
facility with the balance through new equity.


The Board of Tullow currently considers the possible acquisition to be
classified as a reverse takeover pursuant to The Listing Rules of the UK Listing
Authority and Irish Stock Exchange and therefore, in accordance with The Listing
Rules, the Company has requested that the listing of its ordinary shares be
suspended temporarily.



A further announcement will be made as soon as practicable.


Enquiries:

Tullow Oil plc                   Aidan Heavey                      020 7333 6800
                                 Tom Hickey

ABN AMRO Corporate Finance       Richard Kent                      020 7678 8000

Hoare Govett Limited             Andrew Osborne                    020 7678 8000
                                 Andrew Foster

Davy Corporate Finance Ltd       Hugh McCutcheon                 [phone]

Citigate Dewe Rogerson           Martin Jackson                    020 7638 9571

Murray Consultants Limited       Joe Murray                      [phone]



ABN AMRO Corporate Finance Limited, Hoare Govett Limited and Davy Corporate
Finance Ltd are acting for Tullow Oil plc and no one else in connection with the
matters referred to above and will not be responsible to anyone other than
Tullow Oil plc for providing the protections afforded to clients of ABN AMRO
Corporate Finance Limited, Hoare Govett Limited and Davy Corporate Finance Ltd
or for providing advice in relation to the matters referred to above.



This announcement does not constitute an offer or an invitation to purchase any
securities.


                      This information is provided by RNS
            The company news service from the London Stock Exchange