2000 - 2004

2000

2000 saw the beginning of a period of an accelerated pace of activity for Tullow, starting with the announcement of a £200 million acquisition of the producing gas fields and related infrastructure in the UK Southern North Sea from BP. This proved to be a catalyst for the Group's UK strategic positioning as a leading player in the CMS and Thames/Hewett areas.

2004

Tullow oil had a remarkable year in 2004 beginning in May with the acquisition of Energy Africa for $570 million. This acquisition transformed the Group into a more balanced oil and gas exploration and production company with critical mass in the Africa core area, together with strong cash flow and upside potential through exploration opportunities and global resource pricing.

Overall in 2004 the Group had a steady stream of positive news flow, culminating in December with the announcement of the £200 million acquisition of the UK Schooner and Ketch producing assets and surrounding acreage. In just four short years to 2004, Tullow has followed a coherent strategy with a logical progression that has enabled the Group to build a leading production and acreage position in the CMS area.