DISCLAIMER
This presentation contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil and gas exploration andproduction business.
Whilst Tullow believes the expectations reflected herein to be reasonable in light of the information available to them at this time, the actual outcome may be materiallydifferent owing to factors beyond the Group's control or within the Group's controlwhere, for example, the Group decides on a change of plan or strategy.
The Group undertakes no obligation to revise any such forward-looking statements toreflect any changes in the Group's expectations or any change in circumstances, events or the Group's plans and strategy. Accordingly no reliance may be placed on the figurescontained in such forward looking statements.
OUR PORTFOLIO OF ASSETS
Totals include Jubilee Field Insurance Production-Equivalent Barrels of 8,700 bopd in 2018
NEW VENTURES - exploration
•Extensive acreage in Africa and South America, in well-known plays
•Multiple high-impact frontier campaigns plannedover next three years
•Significant new licencesin Côte d'Ivoire and Peru
WEST AFRICA - production
Ghana
•Flagship low-cost producing assets
- Jubilee & TEN fields
•Investment focused on multi-yearincremental drilling programme to maximise and extend production profile
•Combined gross FPSO design capacity of 200 kbopd
Non-operated portfolio
•Incremental investments to sustain production and arrest decline
EAST AFRICA - development
Kenya
•Significant discoveries in South Lokichar basin
•Phased development plan to reach 100+ kbopd at plateau
•Driving towards first oil in 2022
Uganda
•Estimated 1.7bn bbls of discoveredresources in Uganda, developmentprogressing
•c.230kbopd gross production at plateau; expected capex covered to first oil and beyond
West Africa oil production12018 guidance: 86,000 - 92,000 bopd
WELL-POSITIONED IN AN IMPROVING OPERATING ENVIRONMENT
EXTERNAL ENVIRONMENT
•Stronger oil price outlook
•Sustained industry cost deflation
•Long-term demand for low cost oil
INTERNAL ACTIONS
•Reset business and cost base
•Significantly improved balance sheet
•Leveraging opportunity rich portfolio
VALUE CREATION
•Sustainable free cash flow generation
•60% production growthfrom current assets
•High impact exploration campaigns
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Disclaimer
Tullow Oil plc published this content on 03 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 October 2018 16:02:02 UTC