2013 Irish Shareholder Meeting Substantially strengthened the business in 2012 Basin-opening exploration success in Kenya Five new country entries (4 x Atlantic Margin, 1 x East Africa) Successful and cost-effective remediation of…
2013 Irish Shareholder Meeting Tullows exploration-led strategy Additional cash flow from new production 4bn debt facilities Exploration and High Margin Monetisation Production Appraisal Options & Selective Cash flow 1bn +…
2013 Irish Shareholder Meeting Increased scale 2009 2012 Change Sales revenue 916m 2,344m +156% Net profit 31m 666m +2050% Cash generated from operations1 588m 1,778m +202% Capital investment 1,189m 1,870m +57% Net Debt2…
2013 Irish Shareholder Meeting Capital expenditure for 2013 2,000m for full year 2013 800m 270m 580m 350 2,000m Ghana: Jubilee phase 1A & TEN development Uganda: Continuing appraisal and development Other Africa: Maintaining mature…
2013 Irish Shareholder Meeting Reserves and Resources Group Reserves and Resources Reserves and Resources 1,203 mmboe 2,000 1,800 Commercial Reserves - 388 mmboe 1,600 - TEN transferred to Reserves - 112 mmbo 1,400 1,200…
2013 Irish Shareholder Meeting High quality African focused oil production Group Working Interest Production Ghana Jubilee operated Current production production Future production 100 Other licence areas Europe 40 90 Asia 35 80…
2013 Irish Shareholder Meeting Jubilee field production stable; Phase 1A on track Jubilee field well potential Jubilee production stable 160 Well recovery plan delivered below capex guidance Well Potential 140 Excess Capacity Well…
2013 Irish Shareholder Meeting Jubilee area future potential being confirmed Jubilee full field development plan Supports P50 Reserves of 700 mmboe, with upside 20 infill well locations already identified 4D seismic planned to…
2013 Irish Shareholder Meeting TEN development progressing to sanction PoD submitted November 2012 mmboe P90 P50 P10 Discussions with GoG progressing towards approval TEN Reserves & Resources * 200 360 600 Negotiations on gas ongoing…
2013 Irish Shareholder Meeting Exploration strategy is focused on Africa & Atlantic Margins Norwegian North Atlantic Continental Shelf Exploration & Business Development Central Atlantic Central Atlantic Major Exploration…
2013 Irish Shareholder Meeting Industry-leading exploration acreage position Exploration wells Appraisal wells Key trigger wells South American Atlantic Margins 1 0 Cebus-1 Central Atlantic Margins 3 0 Frgate-1, Tapendar-1 West…
2013 Irish Shareholder Meeting Campaign approach to exploration: East Africa example UGANDA 21 PROSPECTS DRILLED Follow-on Prospect 1.2 Follow-on Prospect 1.2bn Kasamene-1 Jobi-East Follow-on Prospect 1.0 10,000 sq km*…
2013 Irish Shareholder Meeting Exploring over 10 related basins in Kenya & Ethiopia Three scales of exploration ongoing simultaneously in multiple basins 1. Appraisal & testing of Ngamia-1 & Twiga South-1 (25 sq km scale) 2. South…
2013 Irish Shareholder Meeting Kenya: South Lokichar Rift Basin drill-out towards commerciality Etom Agete North Basin Bounding Fault Play: Agete South Twiga-1 String of pearls Ekales like Kingfisher in Amosing Lake Albert…
2013 Irish Shareholder Meeting Guyanas: extensive Jubilee play potential plus upside plays Jubilee play campaign continues across the Atlantic; Multiple Ghana-scaled prospective fan systems New 3D seismic surveys reveal exciting…
2013 Irish Shareholder Meeting North Atlantic margins campaign in Greenland & Norway Greenland - highly prospective acreage 1,800 sq km 3D seismic acquired Evaluation of licence to continue to 2015 Norway - relatively unexplored vs…
2013 Irish Shareholder Meeting How we do business We manage our business in a responsible Creating Shared Prosperity way to maximise sustainable development opportunities for host nations We are committed to ensuring long-term…
2013 Irish Shareholder Meeting Open, transparent disclosure We are committed to transparent disclosure of payments to governments and other stakeholders in the countries in which we operate Revenue transparency and disclosure enables…
2013 Irish Shareholder Meeting Conclusions Strong production base to fund industry- leading exploration Major developments making good progress securing revenue over the medium-term Strong and well-balanced financial position…
2013 Irish Shareholder Meeting Tullow Oil Ltd Number 1, Central Park Leopardstown Dublin 18 Ireland Tel: +353 (0) 1 213 7300 Follow Tullow on: Fax: +353 (0)1 293 0400
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