Overview presentation A LEADING GLOBAL INDEPENDENT EXPLORATION & PRODUCTION COMPANY Established record of delivering successes The business has developed organically and through acquisitions since 1985 Diversified world-class…
Overview presentation PRODUCTION & DEVELOPMENT ASSET BASE TEN field East Africa Development First oil achieved in August 2016 Estimated 750mmbo mean FPSO gross capacity of 80,000 bopd resource (net WI 35,000 bopd) Gross…
Overview presentation A BALANCED E&P BUSINESS FOCUSED ON RETURNS Business foundations Disciplined approach Future value generation Highly experienced Monetisation team Maximising revenue Proven operating from production…
Overview presentation WELL POSITIONED FOR THE FUTURE Strong business foundations Delivering shareholder returns Experienced, broader Disciplined investment focused management team on returns High-quality, low-cost asset…
Overview presentation FINANCIAL STRATEGY BUILT ON FIRM FOUNDATIONS Financial foundations Disciplined approach Future value generation Strong team with key relationships Minimum 0.5bn Strong balance sheet Re-set business with…
Overview presentation A STEP CHANGE IN NET DEBT AND GEARING IN 2017 Gearing reduced…
Overview presentation BALANCE SHEET, DEBT PROFILE AND LIQUIDITY bn 5 Committed Debt Drawings Liquidity 1bn facility headroom and free cash at Facilities YE18 0.6 3 No material near term debt maturities Headroom and free cash:…
Overview presentation HEDGING STRATEGY Prudent approach provides significant benefits to the business Tullow has proactively hedged production to protect revenues over the last 10 years Significant liquidity benefit through…
Overview presentation CONSIDERABLE CAPEX FLEXIBILITY Disciplined capital allocation Capital allocated to strike the right balance between deleveraging and growth All investment screened against strict commercial and technical…
Overview presentation CAPITAL ALLOCATION 1000 Ghana 2017 Capex of c.0.25 billion1 West Africa non-op (incl Europe) 800 Exploration 2018 Capex guidance of c.0.5 billion1 Kenya Uganda (to be offset by Ghana: c.250m…
Overview presentation FOUNDATIONS FOR GROWTH Actual and forecast future oil production Good progress made in 2017 Ghana On a pathway…
Overview presentation Tullow Oil plc Overview presentation WEST AFRICA
Overview presentation WEST AFRICA CASH GENERATING PRODUCTION BUSINESS Business fundamentals Material production base from Ghana Low operating costs, targeting c.8/bbl Significant resource base underpins future production…
Overview presentation Tullow Oil plc Overview presentation EAST AFRICA
Overview presentation EAST AFRICA DISCOVERIES LEADING TO MATERIAL PRODUCTION Business fundamentals Over 2 billion bbls of resources discovered Low-cost material resource developments Track record of monetisation Progressing…
Overview presentation Tullow Oil plc Overview presentation NEW VENTURES
Overview presentation NEW VENTURES VALUE GENERATING EXPLORATION PORTFOLIO Business fundamentals Approach focused on building value Oil-focused acreage in known geology & geographies Strict commercial and technical screening of…
Overview presentation
Overview presentation EXPLORATION & APPRAISAL ACTIVITY IN 2017 JAMAICA MAURITANIA KENYA Walton Morant (100%) C3 (90%), C-10 (76.5%) Block 12A (50%) 2D Seismic 3D Seismic 2D Seismic Block 10BB/13T (50%) 3D Seismic CTE DIVOIRE…
Overview presentation NEW VENTURES: CAMPAIGNS FOCUSED ON LONG-TERM VALUE Commercial screening Off-limits Exploration Tested at 50/bbl Ultra-deepwater Low cost of supply Value accretive Deepwater gas High margin oil Shale…
Overview presentation SOUTH AMERICA: HIGH-IMPACT PROSPECTS Jamaica: Interpreting new 2D seismic data; 3D seismic survey planned for 2018 Guyana: attractive acreage up-dip of Liza-1 oil discovery; acquired 3D seismic in 2017…
Overview presentation GUYANA-SURINAME: EXCELLENT POSITION IN NEW OIL PROVINCE Suriname: Araku-1 in Suriname drilled in Q4 2017 (11m net to Tullow, Operator 30%) No commercial discovery made but presence of gas condensate de-risks…
Overview presentation AFRICA: HIGH-IMPACT LEADS AND PROSPECTS Mauritania: exploration focus shifted to low-cost shelf-edge oil plays, 3D seismic acquired in 2017 Zambia: extension of East African Rift Basin Play; High Gravity…
Overview presentation Tullow Oil plc 9 Chiswick Park 566 Chiswick High Road London, W4 5XT Follow Tullow on: United Kingdom Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Email: irtullowoil.com Web: www.tullowoil.com…
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