REG - Tullow Oil PLC - Tullow receives judgment in its favour <Origin Href="QuoteRef">TLW.L</Origin>

Tullow OilAnnouncement

06/09/2014 20:25

For best results when printing this announcement, please click on the link
below:

http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20140723:nRSW0978Na


RNS Number : 0978N
Tullow Oil PLC
23 July 2014 
 
News Release 
 
Tullow receives judgment in its favour following appeal by Heritage 
 
23 July 2014- Tullow Oil plc ('Tullow') is pleased to announce that Tullow
Uganda Limited, its Ugandan subsidiary, has received judgment in its favour in
the proceedings against Heritage Oil and Gas Ltd and Heritage Oil Plc
(together 'Heritage') in the Court of Appeal in London (Case No: 2013/2175). 
 
In June 2013, Tullow succeeded in the High Court in London with its indemnity
claims against Heritage with regard to Capital Gains Tax payments that Tullow
had made on Heritage's behalf to the Uganda Revenue Authority. In August 2013,
Tullow received $345.8 million from Heritage in satisfaction of this High
Court judgment. 
 
In September 2013, Heritage was granted permission by the Court of Appeal to
appeal certain aspects of the High Court judgment and the appeal was heard in
May 2014. In its judgment, the Court of Appeal ruled in Tullow's favour on all
but one of the points appealed by Heritage. This point relates to part of one
of Tullow's indemnity claims and will require Tullow to repay to Heritage
approximately $2.5 million plus some interest. In all other respects the Court
of Appeal has upheld the High Court's judgment. 
 
Tullow has already accounted for the receipt of $345.8 million in its 2013
Annual Report and Accounts. 
 
FOR FURTHER INFORMATION CONTACT: 
 
 Tullow Oil plc (London)(+44 20 3249 9000)Chris Perry (Investor Relations)James Arnold (Investor Relations)George Cazenove (Media Relations)  Citigate Dewe Rogerson(London) (+44 207 638 9571) Martin JacksonShabnam Bashir  Murray Consultants (Dublin)(+353 1 498 0300) Pat WalshJoe Heron  
 
 
Notes to Editors 
 
Tullow Oil plc 
 
Tullow is a leading independent oil & gas, exploration and production group,
quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW) and is
a constituent of the FTSE 100 Index. The Group has interests in over 140
exploration and production licences across 23 countries which are managed as
three regional business units: West & North Africa, South & East Africa and
Europe, South America and Asia. 
 
Follow Tullow on: 
 
Twitter: www.twitter.com/TullowOilplc                                        
YouTube: www.youtube.com/TullowOilplc 
 
Facebook: www.facebook.com/TullowOilplc                                       
        LinkedIn: www.linkedin.com/company/Tullow-Oil 
 
IR App: bit.ly/TullowApp                                                      
             Website: www.tullowoil.com 
 
This information is provided by RNS
The company news service from the London Stock Exchange