REG - Tullow Oil PLC - Tullow publishes reserves report

Tullow OilAnnouncement

26/09/2025 13:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250926:nRSZ0534Ba&default-theme=true

RNS Number : 0534B  Tullow Oil PLC  26 September 2025

Tullow Oil plc

Tullow publishes reserves report as of 30 June 2025

26 September 2025 Ð Tullow Oil plc (Tullow) has published its mid-year 2025
reserves report. Reserves estimates for Ghana have been extracted from a
reserves report (dated 26 September 2025) prepared by the appointed external
auditor, TRACS International Limited, based on data available to the end of
June 2025. Reserves estimates for C™te d'Ivoire are based on the Reserves
Report prepared by TRACS as of 31 December 2024, adjusted for 1H 2025
production.

Total reserves of 113.8 mmboe as of 30 June 2025 compare with total reserves
of 128.5 mmboe as of 31 December 2024, both excluding Gabon. The reduction
reflects 7.4 mmboe of production and revisions associated with production
performance during 1H 2025 of 7.3 mmboe (Jubilee 6.3 mmboe and TEN 1.0 mmboe).

Following the Memorandum of Understanding with the Government of Ghana to
extend the production licences to 2040, TRACS has estimated that 14.7 mmboe of
Jubilee Contingent Resources and 3.5 mmboe of TEN Contingent Resources would
move to 2P Reserves once the extensions are executed.

With the new 4D seismic data acquired in 1Q 2025 and an Ocean Bottom Node
(OBN) survey planned for 4Q 2025, Tullow expects to mature new projects and
increase 2P reserves in Ghana. This is further supported by ongoing work with
the Government of Ghana in relation to a Plan of Further Development for
Jubilee, which covers the licence extensions and further drilling
opportunities.

The report is available on the website here:
https://www.tullowoil.com/investors/results-reports-and-presentations/
(https://www.tullowoil.com/investors/results-reports-and-presentations/)

 

 CONTACTS
 Tullow Investor Relations                    Camarco (Media)

                                            (+44 20 3757 4980)
 ir@tullowoil.com (mailto:ir@tullowoil.com)

                                            Billy Clegg
 Matthew Evans

                                              Georgia Edmonds

                                              Rebecca Waterworth

 

Notes to editors

Tullow is an independent energy company that is building a better future
through responsible oil and gas development in Africa. Tullow's operations are
focused on its core producing assets in Ghana. Tullow is committed to becoming
Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity
strategy that delivers lasting socio-economic benefits for its host nations.
The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).
For further information, please refer to: www.tullowoil.com
(http://www.tullowoil.com/) .

 

Follow Tullow on:

LinkedIn: www.linkedin.com/company/Tullow-Oil
(http://www.linkedin.com/company/Tullow-Oil)

X: www.X.com/TullowOilplc (http://www.X.com/TullowOilplc)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No 596/2014 (as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 as amended by virtue
of the Market Abuse (Amendment) (EU Exit) Regulations 2019). Upon publication
of this announcement, this inside information will be considered to be in the
public domain. The person responsible for arranging the release of this
announcement on behalf of Tullow is Adam Holland, Company Secretary.

 

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or the solicitation of an offer to purchase, subscribe
for or otherwise acquire, or to sell, transfer or otherwise dispose of, any
securities or the solicitation of any vote or approval in any jurisdiction,
whether pursuant to this announcement or otherwise.

 

The release, publication or distribution of this announcement in, into or from
jurisdictions outside the United Kingdom may be restricted by law and
therefore persons into whose possession this announcement comes should inform
themselves about, and observe, such restrictions. Any failure to comply with
the restrictions may constitute a violation of the securities law of any such
jurisdiction.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBBGDCBUDDGUL