Tullow Oil plc is one of the leading independent oil and gas exploration and production company in Africa and currently a major partner in Ghana’s Jubilee field. The company is seeking to raise GH¢124 million through the issue of 4 million shares at GH¢31 per share. With 90 licenses spanning 22 countries, 1,383 mmboe
reserves as at the end of 2010, Tullow is an excellent investment opportunity for long-term growth investors.
Start June 16 2011
Ends July 4th 2011
EXPLORATION AND PRODUCTION PORTFOLIO
The oil sector in Congo (1) accounts for a large portion of
the country’s GDP and exports. With development and
production operations in Brazzaville, Tullow averaged 4,000
bopd in 2010, which represented 7% of the Group’s
Côte d’Ivoire (2) is a major gas producer, producing
sufficient gas for the country, in addition to being a major
supplier to the West African region. With exploration,
development, and production across four offshore blocks,
Tullow produced 3850 bopd, approximately 7% of the
Group’s production, in 2010.
With two offshore interests for hydrocarbon industry,
Tullow’s development and production operations in
Equatorial Guinea (3) yielded 15,700 bopd, representing
more than a quarter of the Group’s total production.
Currently, hydrocarbon reserves in Ethiopia (4) are limited,
but Tullow Oil has shown an interest in exploration by
acquiring licenses in 2010.