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7 October 2020 – Tullow Oil plc (Tullow) is pleased to announce that it has completed the bi-annual redetermination of its RBL credit facility with $1.8 billion of debt capacity approved by the lending syndicate. As a result, the Group retains c.$500 million liquidity headroom of undrawn facilities and free cash at the start of the fourth quarter of the year, which the Board deems appropriate given Tullow’s capital commitments.

At Tullow’s request, the next redetermination will commence following Tullow’s Capital Markets Day, which is scheduled for 25 November 2020, and is expected to be completed in January 2021.

For further information contact:

Tullow Oil plc
Murray Consultants
IR: Chris Perry, Nicola Rogers, Matt Evans
Media: George Cazenove
(+353 1 498 0300)
Pat Walsh
Joe Heron

Notes to Editors

Tullow Oil plc

Tullow is an independent oil & gas, exploration and production group which is quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW) and is a constituent of the FTSE250 index. The Group has interests in over 50 exploration and production licences across 11 countries including Ghana where it operates the Jubilee and TEN fields. In March 2021, Tullow committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030.

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