Approval of Placing and Open Offer

Tullow Oil PLC
1 December 1999

                        TULLOW OIL PLC

             Approval of Placing and Open Offer

The Board of Tullow Oil Plc ('Tullow' or 'the Company') is pleased to announce
that all resolutions required to give effect  to its recent  Placing and Open
Offer were today approved by shareholders in general meeting .The Open Offer
closed at 3.00 pm on 30 November 1999, at which time valid applications had
been received for 7,366,522 of the Open Offer Shares (representing
approximately 69  per cent. of the New Ordinary Shares offered pursuant to the
Open Offer and 78 per cent of those Open Offer shares which were placed
subject to clawback). The Placing and Open Offer was fully underwritten by ABN
AMRO Rothschild.

The number of New Ordinary Shares to be issued pursuant to the Placing and
Open Offer, amounting in total to 38,461,538,   are expected to be admitted to
dealing on 3 December, 1999. As a result, the issued share capital of the
Company has risen to 274,728,853 ordinary shares of Euro 0.13 each.

Inquiries

Tullow Oil Plc

Aidan Heavey        Chief Executive                     [phone]

Graham Martin       Legal and Commercial Director       [phone]