Result of Equity Issue

Tullow Oil PLC
25 August 2000


                      Approval of Placing and Open Offer

The  Board  of Tullow 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  p.m.  on  22
August 2000, at which time valid applications had been received for 29,189,024
of  the  Open Offer Shares (representing approximately 74 per cent of the  New
Ordinary  Shares  offered pursuant to the Open Offer). The  placing  and  open
offer  was  fully underwritten by Investec Bank (UK) Ltd. The  number  of  New
Ordinary Shares to be issued pursuant to the Placing and Open Offer, amounting
in  total  to 77,000,000 are expected to be admitted to dealing on  29  August
2000.  As  a  result,  the issued share capital of the Company  has  risen  to
352,254,187 ordinary shares of Euro 0.13 each.



For Reference:

Tullow Oil  plc                                Tel: [phone]
Aidan Heavey, Chief Executive
Graham Martin, Legal & Commercial Director
Tom Hickey, Finance Director

Binns & Company                                Tel: [phone]
Peter Binns, Mike Tate

Millham Communications                         Tel: [phone]
Judith Parry/Simon Rothschild

Murray Consultants                             Tel: [phone]
Joe Murray/ Maura Haslam

Investec Henderson Crosthwaite                 Tel: [phone]
Nigel Tose