Tullow Plans Secondary Listing of Shares on Ghana Stock Exchange


Tullow Oil plc (Tullow) today announces its plans for a secondary listing of its shares on the Ghana Stock Exchange (GSE) and an offering of 4,000,000 Tullow shares in Ghana.

The offer of Tullow shares on the GSE will give everyone in Ghana the opportunity to apply for shares in Tullow and to share in the future performance of Tullow’s operations across its global portfolio of assets. This listing and share offer further demonstrates Tullow’s long-term commitment to Ghana.

The share price for the offer will be announced on Monday 13 June 2011. Shares can be applied for between 13 June 2011 and 4 July 2011 through Tullow’s sponsoring broker, IC Securities (Ghana) Limited or visiting any branch of Standard Chartered or Agricultural Development Bank in Ghana or the office of any of the authorised receiving agents, see www.tullowoil.com/ghana for more information.

Tullow expects to publish a prospectus which further describes the secondary listing and share offer under Ghanaian law on 13 June 2011. Any decision to invest in shares which form part of the offer should only be made on the basis of information set out in that prospectus.

Commenting today, Aidan Heavey, Chief Executive, said:

“Tullow is fortunate to have played a pivotal role in delivering First Oil from the word-class Jubilee field, offshore Ghana. We would like everyone in Ghana to have the opportunity to invest in the future performance of Tullow, especially as we embark upon further exciting exploration and development activities in Ghana and across our global portfolio. With the support of the Ghana Stock Exchange, the Securities and Exchange Commission and Ghanaian advisers and banks, we are making our shares accessible to anyone in Ghana who wishes to take part in the share offer.”

Source:Tullow , May 31, 2011; Image:cipe